Core Scientific: A Must Own Bitcoin Miner And Crypto Stock Ahead Of SPAC Merger

BOOX Research
20.33K Followers

Summary

  • Bitcoin miner Core Scientific will go public through a SPAC merger deal with "Power & Digital Infrastructure Acquisition Corp".
  • The company is currently the largest miner in North America while also offering hosting services and blockchain technologies powered by dedicated clean-energy infrastructure.
  • Transaction details imply current valuation at a significant discount to peers highlighting the deep value and upside potential.

computer engineer working with laptop at cryptocurrency mining farm
LightFieldStudios/iStock via Getty Images

Core Scientific is going public through a SPAC merger with Power & Digital Infrastructure Acquisition Corp. (XPDI) in a deal valuing the group at $4.5 billion. If you're not familiar with the name, the company has quietly

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This article was written by

20.33K Followers
BOOX Research run by Dan Victor, CFA specializes in covering small-caps and under-the-radar ideas. Dan brings more than 15 years of experience in financial services across multiple roles in research, investment management, and trading. Dan is also the winner of Seeking Alpha's 2023 stock market prediction contest-- beating out a field of 40 analysts by correctly forecasting the S&P 500's 24% gain that year. https://seekingalpha.com/article/4660791-2023-market-prediction-contest-winners

Analyst’s Disclosure:I/we have a beneficial long position in the shares of XPDI, MARA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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