Core scientific mining company will go public on Nasdaq through a merger with Power and Digital Infrastructure Acquisition Corp-SPAC as we can see more today in our latest cryptocurrency news.
Core Scientific is another crypto-focused company that showed aspirations to go public via a merger with SPAC. The company is a digital asset mining firm that aims to become the next company in the crypto space to be publicly traded at a $4.3 billion evaluation and instead of an IPO, the company will merge with a SPAC called Power and digital Infrastructure Acquisition corp.
The company is a crypto miner that has operations in several US states and plans to go public on Nasdaq with a merger with Power and digital Infrastructure Acquieisotn Corp. After the deal, both of the parties’ estimated valuations should rise to over $4 billion. However, the company failed to give more details about when it is to become public or what will be the ticker. As per Darin Feinstein, the co-founder and co-chairman of the company, the blockchain infrastructure business of Core is unparalleled, backed by more than 70 blockchain and infrastructure-related patents and applications.
Core’s CEO Mike Levitt, indicated that his company has mined more than 3000 Bitcoins so far this year and he outlined major demand for his products as his capacity is already sold out through 2022. If Core Indeed becomes a publicly-traded company, it will join a growing number of digital asset representatives available for trading on major exchanges. Maybe the biggest name to do so earlier this year was Coinbase as the US exchange went public on Nasdaq with a valuation of $100 billion. As Coinbase was preparing for this move, Toro and Kraken showed similar intentions.
— Core Scientific (@Core_Scientific) July 21, 2021
As recently reported, Argo Blockchain that concentrates on crypto mining desired a secondary listing on Nasdaq so while announcing the first listing, it revealed an intention to get a secondary listing on Nasdaq. According to the statement, this new desire is a part of the new strategy and operational upgrade in June 2021 as the Argo Blockchain mining firm mentioned that it has not yet arrived at any decision for the timing of the listing. It said that it’s not yet clear when the listing will be implemented. Furthermore, it disclosed that the market and other conditions influence proposals on listings so there’s no clear assurance if the listing is ready. In a move for its upgrade, Argo Blockchain revealed the company undertook the mining of 167 BTC.