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Core Scientific Downgraded to Neutral: CoreWeave Deal Sparks Complexity Concerns (H.C. Wainwright)
Core Scientific Downgraded to Neutral: CoreWeave Deal Sparks Complexity Concerns (H.C. Wainwright)
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Mining giant Core Scientific just got a reality check from analysts—and it's not pretty.
Why the sudden cold feet? H.C. Wainwright pulled its bullish rating after CoreWeave's labyrinthine partnership terms surfaced. Turns out, marrying AI compute demands with Bitcoin mining ops isn't as simple as swapping rigs.
The devil's in the dilution: While the deal promises to diversify revenue streams, analysts smell equity erosion and operational headaches. 'Synergy' sounds great in boardrooms—until it tanks your hash rate.
Another day, another crypto firm learning that Wall Street's love comes with strings attached. And spreadsheets. So many spreadsheets.
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