Blockchain firm Core Scientific to go public via $4.3 billion SPAC deal By Reuters

Blockchain firm Core Scientific to go public via .3 billion SPAC deal By Reuters
Blockchain firm Core Scientific to go public via .3 billion SPAC deal By Reuters

© Reuters.

(Reuters) – Core Scientific will go public through a merger with a special purpose acquisition company (SPAC) in a deal that values the blockchain infrastructure and software firm at $4.3 billion, the companies said on Wednesday.

The deal with Power & Digital Infrastructure Acquisition Corp will fetch $300 million in cash proceeds, Core Scientific said.

Some cryptocurrency firms like Peter Thiel-backed Bullish and FTX Trading Ltd have either raised funds or have gone public at high valuations, unfazed by the waning of investor enthusiasm in cryptocurrencies and the regulatory crackdown globally.

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