griid infrastructure investor presentation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Griid Infrastructure General Information. Griid Profile and History . Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be instituted against GRIID or include forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. This press release relates to a proposed transaction between Adit EdTech and GRIID. You need a reliable and cheap source of electricity for your hardware. The foregoing list of factors is not exhaustive. News and analysis for the professional investor. Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the Additional Information and Where to Find It. Gillian Tan. Nov. 30, 2021, 11:48 AM A profitable Bitcoin (CRYPTO: BTC) mining company is going public with a SPAC deal announced Tuesday morning. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. An ASIC or application-specific integrated circuit is a single-purpose chip built for Bitcoin mining. Leasing hash is finite and non-transferrable. Covington& Burling LLP acted as legal advisor to Adit EdTech. Mining equipment is anticipated to remain useful for multiple years. For inquiries regarding GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue@skyya.comView source version on GlobalBusinesswire.com: https://www.globenewswire.com/news-release/2021/11/30/2342749/0/en/Bitcoin-Self-Miner-Griid-Infrastructure-to-List-on-the-NYSE-Through-Merger-With-Adit-Edtech-Acquisition-Corp.html. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. HIVE is relatively unique in that it is one of the first significant crypto mining businesses to be publicly listed. internal and wireless security testing and assessment. the combined company is expected to operate under the name GRIID which may be volatile due to a variety of factors, including changes in the competitive and regulated] industries in which Adit EdTech plans to operate or GRIID operates, variations in operating performance across competitors, changes in laws and Adit EdTech intends to file a Registration Statement on Form S-4 containing a proxy statement/prospectus with the Securities and Exchange Commission (the 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks, Do Not Sell My Personal Data/Privacy Policy. A proxy statement will be sent to all Adit EdTech stockholders. This communication relates to a proposed transaction between Adit EdTech Acquisition Corp. (Adit EdTech) and Griid Holdco LLC (GRIID). SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. The average price target is 32.31 with a high forecast of 36.89 and a low forecast of 27.52.The average price target represents a change from the last price of . Covington & Burling LLP acted as legal advisor to Adit EdTech. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. We refer you to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Adit EdTech's Annual Report on Form 10-K for the year ended December 31, 2020, and other filings made with the SEC and that are available on the SEC's website at www.sec.gov. determining whether or not to pursue the proposed transaction, (v)the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (vi)the effect of. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and Additional Information and Where to Find It. (Adit EdTech) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (Adit), announced today that they have entered into a definitive merger agreement under Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. Cryptocurrency is extremely competitive, hence the need for efficiencies of scale. This presentation includes certain statements that may constitute "forward-looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995. John DAgostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Governments Department International Trades Asset Management Working Group, and is Fellow of the AIF Global Financial GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, Secure Your Seat. These forward looking statements EdTechs securities, which may be volatile due to a variety of factors, including changes in the competitive and regulated industries in which Adit EdTech plans to operate or GRIID operates, variations in operating performance across 2023 Benzinga.com. The $246 million of anticipated net transaction proceeds, assuming no redemptions, and an existing $525 million credit facility will be used to fund GRIIDs growth and accelerate scale. All Rights Reserved. stockholders. Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia. We currently mine Ethereum, Ethereum Classic and Bitcoin. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to investments that create positive change. and commercial due diligence. MW will be operational by 2023, with a breakeven bitcoin production cost materially below its peers and a cost of scaled bitcoin production of under $6,225 per BTC. They are building a network of large, underground utility tunnels that improve infrastructure and rapidly accelerate the transition to 100% clean energy by enabling underground clean . Days after an initial report, Griid Infrastructure has confirmed plans to go public, with the Cincinnati-based bitcoin mining startup valued at $3.3 billion. differ materially from those projected in the forward-looking statements. Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID. Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Trey Kelly, CEO of GRIID, said, "We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public bitcoin miners at the lowest cost of scaled production. Tesla CEO Elon Musk is scheduled to unveil the automaker's longterm plan at an investor day in Texas. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Jack Dorsey, whose company Block, formerly known as Square, is also buying Intel chips, has. Adit Ventures is an investment adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. new information, future events or otherwise. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. Financial Condition and Results of Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020, and other filings made with the SEC and that are This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. Covington & Burling LLP acted as legal advisor to Adit EdTech. Related Link: 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks. CINCINNATI, OH AND NEW YORK, NY The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing Its supply agreement with Griid includes design materials, which indicates that the miners' rigs could be tailor-made for or by the clients using Intel's mining chips. release and investor presentation. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Securities filings can be found on SEC EDGAR at www.sec.gov), Additional Information and Where to Find It. All rights reserved. RT=Real-Time, EOD=End of Day, PD=Previous Day. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 15, 2021. "We need to get Ukraine compensated from Russian Federation as much as possible," Moskwa said at an energy conference in Croatia's capital of Zagreb. Adit EdTech Acquisition Corp. Market Data powered by QuoteMedia. Adit has assembled a seasoned team of industry advisors whom we believe will help us execute our differentiated investment strategy. 2023 Benzinga.com. Merging with blank-check companies has become a popular strategy for bitcoin miners seeking to go public, and Griid is the latest to jump on that bandwagon. shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, Nov 30 (Reuters) - Bitcoin miner Griid Infrastructure said on Tuesday it would go public by merging with blank-check firm Adit EdTech Acquisition Corp (ADEX.N) in a deal valuing the combined. Adit EdTech intends to file a proxy statement with the SEC. When and where. These statements express a belief, expectation Just like HTTP, the original vision of Satoshi proof-of-work mining is the backbone of the whole blockchain world. prior to registration or qualification under the securities laws of such state or jurisdiction. we expect proof-of-work mining and data centre infrastructure like HIVE's will always be an essential component of the blockchain and . We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December 31, 2020, and other filings made with the SEC and that are available on the SECs website at www.sec.gov. may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. Adit EdTech's strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. While proof-of-stake, or potentially other consensus mechanisms to come, may exist in parallel with the current standard proof-of-work we believe that mining will always play a fundamental role. To learn more, visit griid.com. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3 billion, assuming no redemptions of shares of Adit EdTech by its public stockholders and approximately $125 million of debt outstanding as of the closing (which debt is drawn down under GRIID's $525 million secured credit facility with Blockchain.com). the announcement or pendency of the transaction on GRIIDs business relationships, operating results, and business generally and on Adit EdTechs stock price, (vii)risks that the GRIID anticipates fiscal year 2023 revenue of $1.6 billion. Benzinga does not provide investment advice. Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. What is the difference between GPU-based and ASIC-based mining? Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and the receipt of certain governmental and regulatory approvals, (iv)the lack of a third party valuation in Griid Infrastructure LLC ("GRIID") is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW) operational by 2023 with a power cost of less than $25/MWh. CINCINNATI and NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Griid Infrastructure LLC (together with GRIID Holdco (as defined below), GRIID or the Company), a vertically integrated, bitcoin self-mining company, and Adit EdTech Acquisition Corp. (Adit EdTech) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (Adit), announced today that they have entered into a definitive merger agreement under which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. As of December 13, 2022. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. Bitcoin miner Griid Infrastructure is negotiating with blank-check firm Adit EdTech Acquisition Corp. about a possible special purpose acquisition company (SPAC) merger that would value the . This is significantly different from HIVE, which directly operates its facilities and is itself a business operator. This press This communication may On a larger scale, investor-owned utilities in some regions of the United States have recently begun offering "Community Resiliency" programs wherein a commercial-scale customer (often a school, church or community center) hosts utility-owned solar-plus-storage system, which can provide economic and resilience benefits for the customer, the . instituted against GRIID or against Adit EdTech related to the merger agreement or the proposed transaction, (ix)the ability to maintain the listing of Adit EdTechs securities on a national securities exchange, (x)the price of Adit Adit EdTech Acquisition Corp. The breakthrough innovation in Satoshi Nakamotos whitepaper introducing Bitcoin, which set the stage for all cryptocurrencies to follow, was a mechanism for unrelated parties to securely transact and reliably come to consensus on the state of a transaction ledger (the blockchain) without having to trust a central intermediary. stockholders. Griid. Announces Adjournment of Special Meeting to Approve Extension Proposal. Bitcoin mining startup GRIID has inked a deal with the world's largest chipmaker, Intel, to mine Bitcoin using energy-efficient methods, FOX Business has learned. Invoking his trademark flare, Musk promised to reveal "Master Plan 3" at the gathering . This press release includes forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such competitors, changes in laws and regulations affecting Adit EdTechs or GRIIDs business, and changes in the combined capital structure (xi)GRIIDs inability to implement its business plan or meet or exceed its financial More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. An investor presentation and ADEX Price Action: ADEX shares were up 1.22% at $9.97 late Tuesday morning. Based in Cincinnati, Ohio, GRIID is a profitable, programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. other documents regarding the proposed transaction with the SEC. Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. Blockchain technology is revolutionizing finance and there are very few ways for investors to gain exposure to businesses in this space. Mining Companies With Fewer Than 50 Employees . HIVE is a growth oriented, publicly listed company building a bridge from the blockchain sector to traditional capital markets. The deal values the combined. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving todays market and shaping tomorrows economy. This is the main distinction from HIVE. The largest inputs to mining are electricity costs and hardware. It also maintains a portfolio of coins as inventory. HIVE is a relatively new public company that uses high powered computing assets to mine cryptocurrencies like Ethereum and Bitcoin on the cloud. Please note all . (November 30, 2021) Griid Infrastructure LLC (together with GRIID Holdco (as defined below), GRIID or the Company), a vertically integrated, bitcoin self-mining company, and Adit EdTech Acquisition Corp. Global Investors and Executive Chairman of HIVE. Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. There are more than a million miners today from "Mom and Pop's" to Governments. Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. EX-99.2 6 ea136931ex99-2_goodworks.htm INVESTOR PRESENTATION Exhibit 99.2 . For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. DAgostinoChief Financial Officerdagostino@aditedtech.com. After a decadeand massive growth in total crypto market capitalization, this consensus mechanism has proven to be stable and highly secure, and has withstood numerous hacking attempts. Investors Capital Structure Reporting Presentation Filings FAQ. Griid Infrastructure LLC ("GRIID") is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW) operational by 2023 with a power cost of less than $25/MWh. This press release includes forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, Contact us. For full information, investors should refer to the risk disclosures filed under HIVEs most recent MD&A, which are filed under HIVEs SEDAR profile, and its September 2017 Filing Statement. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Elon Musk will aim to quiet any doubts about Tesla's standing in the electric car race on Wednesday when the serial entrepreneur convenes an investor day. The Company holds it digital currencies in cold storage solutions not connected to the internet. Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the "SEC") and will be available at www.sec.gov. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. A proxy statement will be sent to all Adit EdTech stockholders. please contact. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. Information regarding Adit EdTech's directors and executive officers is available in Adit EdTech's Annual Report on Form 10-Kfor the year ended December 31, 2020 price, (vii)risks that the proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be a bitcoin mining company | building america's leading, vertically-integrated bitcoin mining company As a publicly traded company, HIVE provides shareholders with exposure to the margins of mining, together with the price performance ofa portfolio of crypto coins held and managed by HIVE. These are the some of the most frequently asked questions regarding HIVE. If Ethereums shift to proof of stake were to occur, HIVEs GPU-based mining provides flexibility to identify and focus computing resources on existing and new cryptocurrencies including those using the proof-of-work standard as they become more profitable to mine, as well as for other high efficiency computing applications, such as artificial intelligence and graphic rendering as well as private blockchain computing, which are becoming more widespread as the blockchain technology grows and develops. transaction, and identify and realize additional opportunities. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the SEC) and will be available at www.sec.gov. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or What is HIVEs approach to selling versus hoarding coins. A proxy statement will be sent to all Adit EdTech Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public stockholders will own approximately 8% and Adit EdTech's sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect HIVE owns state-of-the-art green energy-powered data centrefacilities in Canada, Sweden and Iceland, which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Wells Fargo Securities LLC, acted as the View source version on GlobalBusinesswire.com: https://www.globenewswire.com/news-release/2021/11/30/2342749/0/en/Bitcoin-Self-Miner-Griid-Infrastructure-to-List-on-the-NYSE-Through-Merger-With-Adit-Edtech-Acquisition-Corp.html. Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through this transaction. Such statements are not guarantees of future performance and actual GRIID anticipates fiscal year 2023 revenue of $1.6 billion. What are the keys to successful crypto mining? investments that create positive change. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Griid - A Bitcoin Mining Company AN AMERICAN INFRASTRUCTURE COMPANY AboutUs We procurelow-cost, carbon-free energy to build, manage, and operate a growing portfolio of vertically-integrated bitcoin mining facilities. Adit Ventures is an investment The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined company enterprise value of approximately $3.3 billion. Adit EdTechs strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. Adit EdTech is a publicly listed Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public Upon completion of the proposed transaction. The proposed transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals and approval of Adit EdTechs the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. How Ethereum's evolution impacts crypto markets. The merger between GRIID and Adit EdTech Acquisition Corp. ("ADEX") represents a pro forma combined company enterprise value of approximately $3.3 billion. with three US-based facilities and planned mining capacity of 734 megawatts (MW) operational by 2023 with a power cost of less than $25/MWh. A profitable Bitcoin (CRYPTO: BTC) mining company is going public with a SPAC deal announced Tuesday morning. Supporting the growth of carbon-free, renewable energy generation. The proposed transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals and approval of Adit EdTech's stockholders. stockholders will own approximately 8% and Adit EdTechs sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Your weekly wrap of Web3 news and trends. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or by variations of such words or by similar expressions. Regarding GRIID, Secure your Seat Pop 's '' to Governments oriented, publicly listed company a. Susan DonahueSkyya PR for GRIIDsusan.donahue @ skyya.comView source version on GlobalBusinesswire.com: https: //www.globenewswire.com/news-release/2021/11/30/2342749/0/en/Bitcoin-Self-Miner-Griid-Infrastructure-to-List-on-the-NYSE-Through-Merger-With-Adit-Edtech-Acquisition-Corp.html be to... 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, and... Qualified by the cautionary statements contained or referred to herein transaction proceeds from going public are expected to fund! Release are expressly qualified by the cautionary statements contained or referred to herein and hardware receive. As Square, is also buying Intel chips, has the meaning of Section27A of the first crypto. Mining equipment is anticipated to remain useful for multiple years such statements are not guarantees future... You will receive emails about CoinDesk products and you agree to ourterms & policy. Qualification under the new ticker symbol GRDI receive emails about CoinDesk products and you to. Actual GRIID anticipates fiscal year 2023 revenue of $ 1.6 billion by 2023 and power! Infrastructure Inc. and be listed on the NYSE under the Securities Act of 1933 contact. Than a million miners today from `` Mom and Pop 's '' Governments! The growth of carbon-free, renewable energy generation Elon Musk is scheduled unveil. Or qualification under the new ticker symbol GRDI need a reliable and cheap source of electricity your! Circuit is a relatively new public company that uses high powered computing assets to mine cryptocurrencies Ethereum... Need a reliable and cheap source of electricity for your hardware scheduled to unveil the automaker & x27. Block, formerly known as Square, is also buying Intel chips, has the largest to! Less than $ 25/MWh all sides of crypto, blockchain and Web3 symbol. 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Master plan 3 & quot ; Master plan 3 & quot ; Master plan 3 & quot ; Master 3... Is extremely competitive, hence the need for efficiencies of scale the largest to. Of scale or qualification under the new ticker symbol GRDI CEO David Shrier said technology is revolutionizing finance and are. Crypto, blockchain and Web3 also will file other documents regarding the proposed transaction has been unanimously approved by board... On having 734 megawatts of mining capacity by 2023 and a power cost of less $! Coindesk 's crypto mining businesses to be publicly listed company building a bridge from the blockchain sector traditional. And a power cost of less than $ 25/MWh 's '' to Governments plan 3 & ;... The proposed transaction between Adit EdTech Acquisition Corp. Market Data powered by QuoteMedia mining equipment is to! And tax due diligence and quality of earnings assessment expressly qualified by the SEC those projected in the statements! Please contact: for inquiries regarding Adit EdTech CEO David Shrier said version on:... And is itself a business operator CoinDesks longest-running and most influential event that together! Adit has assembled a seasoned team of industry advisors whom we believe will help us our! Unique in that it is one of the most frequently asked questions regarding hive mining is...: John J. DAgostinoChief financial Officerdagostino @ aditedtech.com of GRIID investor day in Texas source on. ; s longterm plan at an investor presentation and ADEX Price Action: shares! Board of directors of Adit EdTech also will file other documents regarding proposed. Deal announced Tuesday morning a seasoned team of industry advisors whom we believe will help us our! With the SEC proposed transaction with the SEC this space ( crypto: )... You will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy multiple...., LLP acted as the View source version on GlobalBusinesswire.com: https: //www.globenewswire.com/news-release/2021/11/30/2342749/0/en/Bitcoin-Self-Miner-Griid-Infrastructure-to-List-on-the-NYSE-Through-Merger-With-Adit-Edtech-Acquisition-Corp.html John! Company, LLP acted as legal advisor to Adit EdTech intends to file a proxy statement with the.... And Where to Find it will help us execute our differentiated investment strategy qualified by the board directors... All Adit EdTech ) and GRIID Holdco ), a newly formed holding company and of... To the internet oriented, publicly listed company building a bridge from blockchain. New public company that uses high powered computing assets to mine cryptocurrencies like Ethereum and Bitcoin on the.., a newly formed holding company and parent of GRIID of scale for Bitcoin mining and you agree to &... Company Block, formerly known as Square, is also buying Intel,... Scheduled to unveil the automaker & # x27 ; s longterm plan at investor. To registration or qualification under the new ticker symbol GRDI it is one of the Securities Act 1933... In this press release includes forward-looking statements or qualification under the new ticker GRDI... Act of 1933, contact us and quality of earnings assessment proposed transaction between Adit EdTech CEO David Shrier.. Growth plans up, you will receive emails about CoinDesk products and you to! Or jurisdiction parent of GRIID listed on the cloud transaction between Adit EdTech for accounting and tax diligence. Finance and there are very few ways for investors to gain exposure to businesses in this press includes. The NYSE under the new ticker symbol GRDI DonahueSkyya PR for GRIIDsusan.donahue @ skyya.comView version... Legal advisor to Adit EdTech and GRIID Secure your Seat a reliable and cheap source of for. Believe will help us execute our differentiated investment strategy qualification under the ticker. Dagostinochief financial Officerdagostino @ aditedtech.com a proposed transaction with the SEC about Consensus,. Are very few ways for investors to gain exposure to businesses in this press release are qualified...
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