Quick Take
Cincinnati-based GRIID, an environmentally responsible bitcoin mining company, starts trading on Nasdaq under “GRDI” ticker, following a successful merger with Adit EdTech. The move coincides with the recent approval of a bitcoin ETF, highlighting the company’s strategic growth in the booming bitcoin mining sector.
GRIID’s Nasdaq Debut Marks Milestone in Bitcoin Mining Industry
Cincinnati-based bitcoin mining company GRIID is set to make its debut on the Nasdaq today under the ticker symbol “GRDI,” marking a significant milestone for the company. This move comes at a pivotal time in the bitcoin industry, coinciding with the recent approval of spot bitcoin ETFs earlier this month.
Founded in 2018, GRIID has been operating bitcoin mining facilities since 2019, focusing on environmentally responsible practices. The company’s four mining facilities, strategically located in Watertown, New York, as well as Limestone, Maynardville, and Lenoir City, Tennessee, have played a crucial role in its mission to harness low-cost, low-carbon energy for bitcoin mining operations.
Today’s listing on Nasdaq follows the successful business combination between GRIID and Adit EdTech Acquisition Corp. (NYSE: ADEX), which is aimed at accelerating GRIID’s core growth and expansion efforts across the United States. GRIID’s common stock will also continue to trade on Cboe Canada under the same ticker symbol, “GRDI.”
Trey Kelly, CEO of GRIID, expressed his enthusiasm for the company’s Nasdaq debut, stating, “Today marks a significant milestone for GRIID as we begin to trade in the U.S. market. We believe that our listing on Nasdaq will enhance our visibility, liquidity, and broaden our investor base as we continue to strengthen our market position and reinforce our commitment to delivering shareholder value.”
GRIID’s listing on Nasdaq, known for its stringent listing criteria and ability to attract visionary companies, provides the company with a substantial platform to showcase its leadership and innovation to a wider audience. This move is especially noteworthy in the backdrop of the fast-growing bitcoin mining sector.
GRIID: A Purpose-Built Bitcoin Miner
GRIID is a purpose-built bitcoin mining company that has secured long-term power relationships, ensuring access to affordable, reliable, and environmentally responsible energy. This strategic advantage enables GRIID to pursue a vertically integrated self-mining business model with significant growth potential.
Kelly reiterated the company’s mission, saying, “Since launching in 2018, it has been our mission to leverage low-cost, low-carbon energy to better integrate power markets with bitcoin mining. Our leadership team has demonstrated discipline in operating and managing a growing portfolio of vertically integrated bitcoin mining facilities that are operated in an environmentally responsible manner.”
The Nasdaq listing positions GRIID to capitalize on the surging interest in the bitcoin mining sector while also offering a unique opportunity to explore maximum electricity utilization. The company has the potential to become a leading long-term energy asset partner, owner, and operator, solidifying its position as a key player at the intersection of energy and cryptocurrency.
As GRIID embarks on this new chapter as a U.S. listed public company, the company is poised to seize the multitude of opportunities that lie ahead in the ever-evolving world of bitcoin mining and blockchain technology. Today’s Nasdaq listing is just the beginning of what promises to be an exciting journey for GRIID Infrastructure Inc.
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