Core Scientific, one of the largest Bitcoin (BTC) mining operations in North America is set for a public listing on Nasdaq.
According to CNBC on Wednesday, Core has inked a $4.3 billion merger with Power & Digital Infrastructure Acquisition Corp — a special purpose acquisition company (SPAC). Apart from the planned valuation, other listing details like trading ticker and the start of actual public trading are yet to be revealed as of the time of writing.
The SPAC merger and subsequent Nasdaq listing will see Core join the ranks of fellow publicly-traded Bitcoin mining companies in the United States like Riot Blockchain and Marathon Digital.
Core CEO Mike Levitt revealed in an interview that the company had mined over 3,000 BTC since the start of 2021 with the firm holding 1,683 Bitcoin, currently valued at $53 million as of the time of writing.
The company reportedly earned $60 million in revenue for 2020 and is projecting an eight-fold increase in 2021. Indeed, North