The board of directors of crypto mining company Core Scientific called on shareholders on Wednesday to vote in favor of its proposed acquisition by CoreWeave, believing that the transaction would bring multiple strategic and financial benefits to the company. CoreWeave announced in July this year that it would acquire Core Scientific in an all-stock transaction with a transaction valuation of approximately US$9 billion, corresponding to a price of US$20.4 per share. Although the proposal was opposed by its largest shareholder, Two Seas Capital, the board of directors of Core Scientific still emphasized in the investor presentation that it had "unanimously determined" that the transaction was the best option for all shareholders. The company said that the combined entity would achieve significant cost savings and business synergies, and would help reduce growth risks and unlock shareholder upside potential. (Reuters)