Crypto-SPAC plays generally fall below its $10 floor after merger, however, Core Scientific-XPDI merger could be different given SDIG's price spike on Bitcoin's recovery.Bitcoin mining companies remain an attractive investment given the void created by China's ban on cryptocurrency.As a mining company, Core Scientific is only marginally larger than MARA, where both have very similar mining capacity and valuation.In contrast to revenue-based and adjusted EBITDA-based valuations in Core Scientific's presentation, we carried out earnings-based valuation for comps in this article.Our findings suggest Core Scientific has at least -16% to 10% upside whereas BITF has 66% upside based on underlying assumption.