CoreWeave announced its anticipated acquisition of Core Scientific on Monday. The deal has several benefits for CoreWeave and very little risk. On Monday, July 7, AI infrastructure darling CoreWeave (NASDAQ: CRWV) announced it would be acquiring Bitcoin miner Core Scientific (NASDAQ: CORZ) in an all-stock deal.

Now, CoreWeave has helped another crypto mining operation fully pivot. On Monday, the company announced its plans to acquire Core Scientific, a publicly traded Bitcoin miner. The acquisition, which CoreWeave said is expected to close in the fourth quarter, was an all-stock deal for about $9 billion.

CoreWeave will buy crypto miner Core Scientific in an all-stock deal valued at about $9 billion, it said on Monday, as AI infrastructure firms race to secure the energy and data center capacity needed to power surging demand.