Core Scientific, a cryptocurrency mining company, is planning to list its shares on Nasdaq through a merger with a special purpose acquisition company.
- The company will be valued at 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 tally in the first half of the year to 1,683 BTC.
- It forecast fiscal 2021 revenue of $493 million and fiscal 2022 revenue of $1.1 billion. Its fiscal year ends in January.
- The news was first reported by CNBC.
UPDATE (July 21, 13:46 UTC): Adds details on management, revenue forecasts.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.