CoreWeave is in talks to buy Core Scientific, after the bitcoin miner rejected an earlier deal from the cloud provider last year, a source familiar with the matter told Reuters. Shares of Core Scientific closed 33% higher on Thursday after the Wall Street Journal first reported the news.

CoreWeave, Inc. targets Core Scientific, Inc. with renewed ambitions amid mounting $11.9B debt. Click for why I see different outcomes for CORZ and CRWV investors.

Key Takeaways Core Scientific shares rallied this week after reports Nvidia-backed CoreWeave is in discussions to buy the Bitcoin mining and hosting provider.The stock has formed a classic cup and handle pattern over the past six months before staging a decisive breakout above the formation’s top trendline in Thursday’s trading session.