PANews reported on October 16 that according to Reuters, the board of directors of the crypto mining company Core Scientific urged shareholders on Wednesday to vote in favor of the proposal to sell it to CoreWeave, as the company expects the transaction to bring multiple benefits. In July of this year, CoreWeave announced its intention to acquire Core Scientific in an all-stock transaction with a transaction value of approximately US$9 billion, corresponding to a valuation of US$20.4 per share. However, the proposed transaction was opposed by Two Seas Capital, the largest shareholder of the crypto mining company. The board of directors of Core Scientific said in an investor presentation on Wednesday that it had "unanimously determined" that the transaction was the best option for all shareholders. The presentation pointed out that the merged company will benefit from a number of potential cost savings and synergies, while reducing Core Scientific's growth risks and bringing upside potential to its shareholders.