Bitcoin miner Core Scientific is going public through SPAC Power & Digital Infrastructure

eclipse_images/E+ via Getty Images Bitcoin miner Core Scientific said it will go public through a deal with SPAC Power & Digital Infrastructure Acquisition Corp. (XPDI) that will value the company at about $4.3B. XPDI rose almost 1%. The transaction is expected to generate $300M of net proceeds, according to a statement. Core Scientific holders will own 89% of the company, XPDI public holders will own about 8% and XPDI's sponsor will own about 2%. The deal is expected to close in Q4 and Core Scientific is expected to trade on the Nasdaq. BlackRock (BLK) is the anchor investor in XPDI. Core Scientific describes itself as the largest blockchain infrastructure, hosting provider and digital asset miner in North America with an estimated year-end power capacity of 150 megawatts through four facilities in the U.S. Core Scientific mined 929 BTC (BTC-USD) in Q2 and 1,683 BTC in the first half of the year.