Power & Digital Infrastructure Acquisition (OTCMKTS:XPDIU) Shares Climb 1.8% – Time to Buy?

Shares of Power & Digital Infrastructure Acquisition Corp. (OTCMKTS:XPDIU) shot up 1.8% during mid-day trading on Thursday. The company traded as high as $10.62 and last traded at $10.57. Approximately 29,700 shares changed hands during mid-day trading, an increase of 43% from the average daily volume of 20,825 shares. The stock had previously closed at $10.38.

Power & Digital Infrastructure Acquisition Price Performance

The firm has a 50-day moving average price of $10.57 and a 200-day moving average price of $10.57.

Power & Digital Infrastructure Acquisition Company Profile

Power & Digital Infrastructure Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with a business involved in power and digital infrastructure. The company did not conduct substantial independent operating activities or offer products and services of its own before completing a business combination.

The company focused on potential targets in areas such as data centers, digital infrastructure, power generation, and related technology. Its principal transaction was an agreement to combine with Core Scientific, a provider of digital infrastructure and cryptocurrency mining services operating data centers in the United States.

The business combination with Core Scientific was completed in January 2022, after which the combined company operated as Core Scientific, Inc The SPAC was led by Michael Levitt, who subsequently served as Core Scientific’s chief executive officer.