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Digital Asset Mining Firm Core Scientific Via SPAC To List On Nasdaq

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Core Scientific, the major digital asset mining company via a merger deal with Power & Digital Infrastructure Acquisition Corp is going public.

 

The company based out of North America that its plans to list on the US exchange NASDAQ via a special purpose acquisition company (SPAC). The crypto major has entered into a definitive merger agreement with Power & Digital Infrastructure Acquisition Corp. (Nasdaq: XPDI), a publicly traded SPAC with the backing of the world's largest asset manager, Blackrock.

Digital Asset Mining Firm Core Scientific Via SPAC To List On Nasdaq

As per the deal, XPDI shall take over Core Scientific and the combined entity will operate as Core Scientific Inc. and remain a publicly listed company on the Nasdaq stock market.

The announcement by the company stated, The transaction [acquisition] values the combined company at an implied fully diluted pro forma enterprise value of approximately $4.3 billion.

The company takes pride in being a '100% 100% net carbon neutral, vertically integrated blockchain infrastructure and mining company."

Read more about: bitcoin cryptocurrency
Story first published: Thursday, July 22, 2021, 15:15 [IST]
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