American mining giant Core Scientific is preparing to go public on NASDAQ after signing a merger with Power & Digital Infrastructure Acquisition Corp.
According to a CNBC report on Wednesday, Core Scientific’s merger with Special Purpose Acquisition Company (SPAC) is worth a whopping $ 4.3 billion, and will give the firm a public listing on NASDAQ.
Core Scientific, which has operations in North Dakota, North Carolina, Georgia, and Kentucky, is one of the largest providers of blockchain infrastructure, hosting, and mining operations in North America. The SPAC merger and subsequent listing on NASDAQ will see Core join the ranks of other publicly traded Bitcoin mining companies such as Marathon Digital and Riot Blockchain (NASDAQ 🙂 in the US.
Core CEO Mike Levitt revealed in an interview that his company had mined over 3,000 BTC and owns 1,683 BTC since early 2020.
Meanwhile, North American miners are looking to capitalize on China’s continuing witch hunt in crypto mining to increase their crypto profits in 2021. Core is targeting an eight-fold increase this 2021 compared to the $ 60 million it allegedly made in revenue. in 2020..
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