Bitcoin miner Core Scientific rejects buyout offer from CoreWeave

FILE PHOTO: Representations of cryptocurrency Bitcoin are seen in this illustration picture taken in Paris, France, March 9, 2024. REUTERS/Benoit Tessier/Illustration/File Photo

(Reuters) - Bitcoin miner Core Scientific on Thursday rejected an all-cash offer from Nvidia-backed specialized cloud provider CoreWeave, saying that the offer undervalues the company.

"The board determined that the CoreWeave proposal significantly undervalues the company and is not in the best interests of the company and its shareholders," Core Scientific said in a statement.