Pentwater Capital, an event-driven investment firm, has acquired an 8.5% stake in Core Scientific, a prominent Bitcoin miner and data center operator. The firm disclosed its position through a Schedule 13G filing, revealing ownership of 26 million shares valued at approximately $400 million, based on the current stock price of $15. Core Scientific's stock has seen a decline of 35% from its October peak of $22.90. This investment by Pentwater, which manages around $180 billion in assets, follows a similar move by AI-focused hedge fund Situational Awareness, which increased its stake in Core Scientific to 9.5% last month. Recently, Core Scientific shareholders rejected a merger proposal from CoreWeave, as the company continues to prioritize its Bitcoin mining and high-performance computing infrastructure.