Core Scientific, a cryptocurrency mining company, is planning to list its shares on Nasdaq.
- Core Scientific, the largest host of bitcoin mining machines in North America, plans to merge with the special purpose acquisition vehicle (SPAC) Power & Digital Infrastructure Acquisition, the company said in a statement.
- The company will be valued about $4.3 billion.
- The anchor investor in Power & Digital Infrastructure Acquisition is BlackRock, the world's largest asset manager.
- In May, Michael Levitt, the co-founder and chairman of Core Scientific, took over as CEO after Kevin Turner stepped down.
- Levitt will continue as CEO after the combination.
- The company also said it mined 928 BTC in the second quarter, taking its first-half tally to 1,683.
- It forecast fiscal 2021 revenue of $493 million, and fiscal 2022 revenue of $1.1 billion.
UPDATE (JULY 21 13:46 UTC): Adds management, revenue forecasts.
Disclosure
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.