Major Base Crypto Mining Company Goes Public on Nasdaq with $ 4.3 Billion Valuation
Core Scientific, a leading blockchain hosting and operations company digital asset mining company, goes public through merger with Power & Digital Infrastructure Acquisition Corp. The deal values the combined company at around $ 4.3 billion.
Core Scientific for listing on Nasdaq
Core Scientific Holding Co., one of the largest blockchain hosting and digital asset mining companies in North America, announced Wednesday its are planning to go public on the Nasdaq through a Special Purpose Acquisition Company (SPAC).
Crypto firm has entered into "definitive merger agreement" with Power & Digital Infrastructure Acquisition Corp. (Nasdaq: XPDI), a publicly traded SPAC backed by the world's largest asset manager, Blackrock.
As part of the deal, XPDI will acquire Core Scientific. The combined company is expected to operate as Core Scientific Inc. and remain a publicly traded company on the Nasdaq Stock Exchange.
The announcement reads:
Core Scientific has described itself as "a 100% carbon neutral and vertically integrated infrastructure and mining company ". It operates in North Dakota, North Carolina, Georgia and Kentucky.
Darin Feinstein, co-founder of Core Scientific, explained that the infrastructure business of The company's blockchain is "backed by more than 70 blockchains and infrastructure." patents and related applications. He commented: “We are proud to unite our businesses and move forward in the capital markets."
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