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US Bitcoin mining giant Core Scientific set for Nasdaq listing via $4.3B SPAC deal

July 21, 2021. Summarized by summa-bot.

Compression ratio: 39.2%. 1 min read.

Core Scientific is set to become the latest publicly-traded Bitcoin mining company in America as it plans a $4.3 billion SPAC merger and Nasdaq listing.

Core Scientific, one of the largest Bitcoin (BTC) mining operations in North America is set for a public listing on Nasdaq.

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.

Levitt also described the company’s mining infrastructure framework as “unparalleled,” stating that Core holds over 70 patents in blockchain-related patents.

Back in March, Bitfury’s U. S. Bitcoin miner subsidiary Cipher Mining announced a $2 billion SPAC merger with Nasdaq-listed Good Works Acquisition Corp.

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