[Pentwater Capital Holds 8.5% Stake in Core Scientific]
Event-driven investment firm Pentwater Capital has disclosed that it holds an 8.5% stake in Bitcoin mining company and data center operator Core Scientific, becoming one of the company's significant hedge fund shareholders. According to the latest Schedule 13G filing submitted on Friday, Pentwater owns 26 million shares of Core Scientific stock, which, at the current price of approximately $15 per share, is valued at around $400 million. Core Scientific's stock price has dropped 35% since hitting an all-time high of $22.9 last month.
Pentwater currently manages approximately $18 billion in assets and was previously one of the top ten shareholders in Elon Musk's acquisition of Twitter. Notably, another AI-focused hedge fund, Situational Awareness, increased its stake in Core Scientific to 9.5% last month.
Last month, Core Scientific shareholders rejected a merger proposal from CoreWeave, and the company remains focused on Bitcoin mining and high-performance computing infrastructure businesses.