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Core Scientific reported the minting of 1,044 bitcoins in December 2021, contributing to a total of 5,769 bitcoins for the entire year, marking a 350% year-over-year increase. The company operated approximately 67,000 ASICs, achieving 6.6 EH/s at year-end and anticipates an additional 100,000 ASICs in 2022. Core Scientific also provided hosting for over 80,000 ASICs, representing 6.9 EH/s of the Bitcoin Network. As part of its merger with XPDI (Nasdaq: XPDI, XPDW, XPDIU), a special meeting for stockholder approval is set for January 19, 2022.
Power & Digital Infrastructure Acquisition Corp. (XPDI) announced that its registration statement on Form S-4 regarding its business combination with Core Scientific has been declared effective by the SEC. Stockholders as of December 7, 2021, are encouraged to vote for the transaction at the Special Meeting on January 19, 2022. The merger aims to create Core Scientific, Inc., with the expectation of trading on the Nasdaq under ticker symbols CORZ and CORZW. The combined entity will focus on blockchain infrastructure and digital asset mining.
Core Scientific, a leader in blockchain infrastructure, announced a partnership with the City of Denton, Texas, and Tenaska Energy to develop a 300MW blockchain data center. This facility, powered by emissions-free energy, will enhance Core Scientific's total capacity to over 800MW, maintaining 100% net carbon neutrality. The project is expected to create jobs and support the demand for renewable energy, demonstrating Core Scientific's scalability in the digital asset mining sector. CEO Mike Levitt highlighted the company's commitment to sustainable practices and community engagement.
Core Scientific Holding Co. announces a partnership with Atlas Mining to host a substantial number of Bitcoin miners requiring over 100 MW of power. The installation will unfold over 15 months. This collaboration highlights Core Scientific's expertise in customizable infrastructure and commitment to net carbon neutrality. The company operates data centers in North Carolina, Kentucky, and Georgia, with a new facility set to launch in North Dakota. The merger with Power & Digital Infrastructure Acquisition Corp. (XPDI) is in progress and aims for public listing.
Power & Digital Infrastructure Acquisition Corp. (XPDI) has filed a Registration Statement with the SEC regarding its planned business combination with Core Scientific Holding Co., valued at approximately $4.3 billion. This marks a significant step toward making Core Scientific a publicly traded entity, enhancing its role in carbon-neutral digital asset mining in North America. The transaction is anticipated to close in Q4 2021, pending necessary approvals. Both companies aim to boost growth and service delivery post-merger.
Core Scientific has entered a definitive merger agreement with Power & Digital Infrastructure Acquisition Corp (XPDI), valuing the combined company at an enterprise value of approximately $4.3 billion. This merger positions Core Scientific, North America's largest blockchain hosting provider, to expand its capabilities in digital asset mining and blockchain services using renewable energy. The transaction is anticipated to provide over $300 million in net cash proceeds, aiding in infrastructure expansion. The merger is expected to close in Q4 2021, subject to regulatory and shareholder approvals.