Core Scientific, one of the largest Bitcoin (BTC) mining companies in North America, is listed on Nasdaq.

According to CNBC on Wednesday, Core has signed a $4.3 billion merger agreement with Power & Digital Infrastructure Acquisition Corp, a specialist company (SPAC). Apart from the scheduled prices, other listing details such as the trading bar and actual public trading commencement have not been disclosed at the time of writing.

As a result of the merger, SPAC and the subsequent listing of Nasdaq Core will join the ranks of other US-listed bitcoin mining companies, such as Riot Blockchain and Marathon Digital.

CEO Mike Levitt said in an interview that the company has mined more than 3,000 BTC since early 2021 with a company holding 1,683 bitcoins, which is currently valued at $53 million at the time of writing.

The company has reportedly generated $60 million in revenue by 2020 and estimates that it will grow eightfold in 2021. Indeed, North American miners are taking advantage of the cryptocurrency disruptions in China to boost revenue in 2021.

Levitt also described the company’s mining infrastructure structure as “unparalleled,” noting that Core holds more than 70 blockchain-related patents.

The potential base valuation of $4.3 billion will take place outside the midwest and southern US, making the company’s market capitalization double that of other competitors such as Marathon and Riot Blockchain.

Related: Four North American Bitcoin Miners May Benefit from East-West Shift

As Bitcoin mining stocks continue to be a useful way to gain indirect exposure to BTC for some institutional investors, more and more miners are choosing to go public. This trend has also contributed to an increase in the number of SPACs associated with cryptocurrency and real-time listings.

In March, US-based Bitfury subsidiary Cipher Mining announced a $2 billion merger of SPAC with Nasdaq-listed Good Works Acquisition Corp. List. … …

Source: CoinTelegraph