Newly Public Core Scientific Leads Slump in Crypto Mining Stocks

Newly Public Core Scientific Leads Slump in Crypto Mining Stocks
Core Scientific (CORZ) has gone public at a particularly inauspicious time, with bitcoin in a prolonged slump that has seen prices fall below $40,000 for the first time in months.As a result, shares of Core Scientific, one of the largest bitcoin mining companies by production capacity, have fallen about 22% in the last two days since going public via a SPAC merger.The stocks of other publicly traded miners, which are highly leveraged to the price movements of the cryptocurrencies they mine, have also suffered. On Friday, shares of Hut 8 (HUT) fell about 12%, Hive (HIVE) dropped more than 9%,…