Pentwater Discloses $400M Core Scientific Position Following Failed CoreWeave Deal

Event-driven investment firm Pentwater Capital has taken an 8.5% stake in Core Scientific, adding another large hedge fund holder to the bitcoin miner and data center operator’s shareholder base.

Pentwater reported owning 26 million, or 8.5% of Core Scientific shares, according to a new Schedule 13G filing on Friday. Core Scientific’s share prices have corrected by 35% since reaching an all-time high of $22.9 last month.

At the company’s current price of about $15, the position is worth roughly $400 million. Pentwater manages an estimated $18 billion and was previously a top-ten shareholder of Twitter before Elon Musk’s acquisition.

The disclosure follows similar accumulation by AI-themed hedge fund Situational Awareness, which has increased its Core position to 9.5% last month.

Last month, Core Scientific shareholders rejected the merger deal proposed by CoreWeave, and the company maintains its dual focus on Bitcoin mining and high-performance compute infrastructure.