Core Scientific Inc. has announced a proposed merger with CoreWeave, Inc. The transaction, which has drawn criticism for its valuation and structure, is currently under scrutiny by shareholders. Core Scientific's largest active shareholder, Two Seas Capital LP, has expressed concerns that the transaction undervalues the company and exposes shareholders to economic risk. The proposed all-stock structure has been highlighted as leaving Core Scientific shareholders vulnerable to the volatility of CoreWeave's share price. Despite the criticisms, the strategic merits of a merger between the two companies have been acknowledged. Further developments and discussions are expected in the coming weeks as the parties involved continue to evaluate the proposed terms.