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Core Scientific completes $4.3 billion SPAC merger to prepare for NASDAQ listing
The US mining giant Core Scientific is preparing to list on the Nasdaq after merging with Power & Digital Infrastructure Acquisition Corp.
According to CNBC’s report on Wednesday, Core Scientific’s merger with a special purpose acquisition company (SPAC) is worth up to $4.3 billion, which will make the company publicly listed on the Nasdaq.
Core Scientific operates in North Dakota, North Carolina, Georgia and Kentucky and is one of the largest blockchain infrastructure, hosting and mining service providers in North America. The merger of SPAC and subsequent listing on Nasdaq will allow Core to join other publicly traded Bitcoin mining companies such as Marathon Digital and Riot Blockchain (NASDAQ:) in the United States.
Core CEO Mike Levitt revealed in an interview that since the beginning of 2020, his company has mined more than 3,000 BTC and holds 1,683 BTC.
At the same time, North American miners hope to use China’s continued pursuit of cryptocurrency mining to increase their cryptocurrency revenue in 2021. Core plans to achieve 8 times growth in 2021, and it is reported that its revenue in 2020 is 60 million U.S. dollars.
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