Core Viewpoint - Core Scientific shareholders have rejected a proposed $9 billion merger with AI computing company CoreWeave, ending a significant transaction in the high-power computing sector [1][2]. Company Summary - Core Scientific is a leader in digital infrastructure for high-density colocation services and digital asset mining [2]. - The merger was intended to provide CoreWeave with 1.3 gigawatts of gross power across Core Scientific's data center footprint, with potential for an additional 1 gigawatt [3][4]. - Core Scientific's stock rose by 0.3% following the announcement, while CoreWeave's shares fell nearly 4% [3]. Industry Context - The Bitcoin mining industry has faced increasing challenges, including rising operational costs and reduced rewards due to last year's halving, which cut Bitcoin earnings from 6.25 to 3.125 [5]. - Miners are exploring new revenue sources, such as high-performance computing for AI, to cover operational costs [5]. - Transitioning to AI data centers is complex, requiring advanced heating, ventilation, and air conditioning systems compared to traditional Bitcoin mining setups [6].