Pentwater Capital disclosed that it holds an 8.5% stake in Core Scientific.

BTC-2.68%
Golden Finance reported that event-driven investment firm Pentwater Capital has acquired an 8.5% stake in Core Scientific, becoming one of the important hedging fund shareholders in this Bitcoin mining company and data center operator.
According to the latest Schedule 13G filed on Friday, Pentwater reported that it holds 26 million shares of Core Scientific stock, accounting for 8.5%. The stock price of Core Scientific has retreated 35% since reaching a historical high of $22.9 last month. At the current price of about $15, this position is worth approximately $400 million. Pentwater manages about $18 billion in assets and was one of the top ten shareholders of Twitter before Elon Musk's acquisition.
This disclosure follows a similar increase by another AI-themed hedge fund, Situational Awareness, which raised its position in Core to 9.5% last month.
Last month, Core Scientific shareholders rejected the merger proposal put forward by CoreWeave, while the company continues to maintain its business focus: Bitcoin mining and high-performance computing infrastructure running in parallel.
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