An Austin-based firm that’s established itself as one of the top Bitcoin miners in North America is set to go public.
On Thursday, the company, known as Core Scientific Inc., announced it’s now trading on Nasdaq as $CORZ. The stock opened at $9.74 per share then peaked at $10.48. The company was assigned a $414 million market cap.
"As one of the largest publicly-traded blockchain infrastructure providers and digital asset miners in North America, we are focused on growing our capacity, defending and securing the blockchain ecosystem and building long-term shareholder value," CEO Mike Levitt said.
As reported by Yahoo News, investors approved a plan for a public debut through a $4.3 billion merger with special purpose acquisition company Power & Digital Infrastructure Acquisition Corp. The deal arrives as Austin sees its crypto scene soar, with increased activity in the NFT economy and groups pooling their money together through DAOs.
Core Scientific was established in 2017 and relocated its headquarters from Seattle to Austin last year. It has a site in Downtown Austin on 106 E. 6th St. and data centers in Georgia, Kentucky, North Carolina and North Dakota. More than 100 full-time employees are in the U.S., but it's unclear how many are in Austin.
Now, they say they are the biggest Bitcoin miners based on processing power, with claims that the combined mining capacity on the Bitcoin network exceeds that of competitors. And SEC filings from earlier this month show it's in the process of acquiring Blockcap, Inc., which moved to Austin last year.
The company describes itself as a leader in high-performance, carbon-neutral blockchain infrastructure in an industry that catches flak for its energy use.
Aside from mining, the company provides internet hosting services for other large-scale miners. In fact, it derives about half its revenue by helping big customers mine, a quality seen in what’s often referred to as an “institutional-grade” miner.
Looking ahead, Core Scientific seems optimistic about the year ahead even as Bitcoin falls from its all-time high.
“We’ve worked hard to lay the groundwork that will enable us to achieve our 2022 projections,” Levitt told Yahoo News. “Our objective is to be the best. Being the best means doing all that we can for our business, the industry in which we participate and for the Bitcoin network.”
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May's second election is here, in which voters will decide on the candidates to represent their party in the November general election after the winner in some March primary races was unclear.
Just like the March primaries, voters will choose which party they choose to vote in. Then based on location, each ballot will show which races are in a runoff.
In Texas, candidates must win at least 50% of the vote to be elected. In the races where the top candidate only received a plurality of votes, a runoff is being held.
Here's everything you need to know before heading to the polls.
Know before you go
Early voting for the Texas primary runoff election begins Monday and will last through May 20; Election Day is May 24.
The registration period for this election has passed; check if you're registered to vote here.
The polls are open from 7 a.m. to 7 p.m. daily. As long as you're in line by 7 p.m., you can vote.
You'll need a valid photo ID to present once you're at a polling location.
Here are the early voting locations in Travis County.
View wait times at polling locations here.
Races to watch in Travis County:
- Republican: Incumbent Lt. Gov. Dan Patrick won his primary in March.
- Democratic: Mike Collier and Michelle Beckley are vying to be the Democrat candidate on the ballot.
- Republican: Incumbent AG Ken Paxton is fighting for his seat against George P. Bush.
- Democratic: Rochelle Garza and Joe Jaworski will face off to be the Democratic candidate in this race.
View all the statewide races on the ballot here.
U.S. House of Representatives
View the district you live in here.
- Republican: Incumbent Chip Roy won his primary in March.
- Democratic: Claudia Andreana Zapata and Ricardo Villarreal are hoping to secure this vote.
- Republican: Dan McQueen and Michael Rodriguez are going head to head to be the Republican candidate in this race.
- Democratic: Former Austin council member Greg Casar won this race in March.
- Republican: Ellen Troxclair and Justin Berry are vying to be the Republican candidate in this race.
- Democratic: Pam Baggett won her primary in March.
Texas has been home to some of the country’s biggest celebrities of all time—think Amarillo resident Georgia O'Keeffe, Lubbock’s Buddy Holly and Corpus Christi’s famous singer Selena.
The Pudding’s People Map of the U.S., which shows each city’s “most Wikipedia’ed” resident, placed celebrities from all walks of life on the Texas map. As for Central Texas celebrities, there are some interesting (and not so surprising) names on deck.
Proving that Austin is “alright, alright, alright,” Minister of Culture Matthew McConaughey is both Austin’s and Uvalde’s top Wikipedia’ed resident. McConaughey, who was born in San Antonio adjacent Uvalde, has deeply ingrained himself in Austin by studying Radio-Television-Film at UT Austin, starring in the Austin-filmed movie “Dazed and Confused” and investing in Austin FC.
Heading down just a few miles south, San Marcos claimed former president Lyndon Baines Johnson as Texas State University’s most famous alumni, who graduated in 1930, and was also named in Fredericksburg. LBJ wasn’t the only ex-president on the map—George W. Bush was listed as the top resident in Dallas, Midland, Houston and Crawford.
You’ll see some other names with ties to Austin strewn around the state: Janis Joplin in Beaumont and Port Arthur; Stone Cold Steve Austin in Victoria and Edna; Dan Rather in his hometown of Wharton; and Waylon Jennings in Littlefield.
Venturing outside of the central areas, there are big celebrities who call Texas Home. Actress and artist Selena Gomez dominated search traffic in her hometown of Grand Prairie, musical artist Post Malone was most “Wikipedia’ed” in Grapevine, and Shaquille O’Neal was named in the city where he went to high school, San Antonio.
Plus, Thomas Haden Church, Angela Kinsey, Jessica Simpson, Chuck Norris, Roy Orbison, Ron White, Jessica Alba, Colt McCoy, Jimmy Dean and Johnny Manziel all had at least one city covered on the list.
Where’s Texas’ newest resident, Elon Musk? You’ll find him still in Los Angeles, as his foray into Texas living has just begun.Click here to view the full map.