What Happened to Core Scientific, Inc./tx?
Ticker: CORZSPAC Year: 2021Merger: 2025
Return
+65.8%
Current Price
$17
Peak Price
$23.63
Trust Size
$2.3B
Summary
Core Scientific is one of the largest Bitcoin mining and digital infrastructure companies in North America. The company went public via SPAC merger with Power & Digital Infrastructure Acquisition Corp in 2022, but filed for Chapter 11 bankruptcy in December 2022 due to the crypto crash and exposure to Celsius Network. It emerged from bankruptcy in January 2024.
What Happened
Power & Digital Infrastructure Acquisition Corp merged with Core Scientific in January 2022. Just 11 months later, Core Scientific filed for Chapter 11 after Bitcoin's crash and counterparty Celsius's bankruptcy wiped out revenue. The company emerged from bankruptcy in January 2024, relisted on Nasdaq, and pivoted to AI/HPC hosting alongside mining. The stock now trades at ~$17/share with a $5.3B market cap â a remarkable comeback.
Timeline
2021-02-04
S-1 Registration Filed
2025-09-26
Merger Proxy Filed (DEFM14A)