This press Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. prior to registration or qualification under the securities laws of such state or jurisdiction. private firms that the principals believe are driving todays market and shaping tomorrows economy. ADEX Price Action: ADEX shares were up 1.22% at $9.97 late Tuesday morning. Such statements are not guarantees of future performance and actual The foregoing list of factors is not exhaustive. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. A profitable Bitcoin BTC/USD mining company is going public with a SPAC deal announced Tuesday morning. Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will Jack Dorsey, whose company Block, formerly known as Square, is also buying Intel chips, has. 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 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. 2023 Benzinga.com. You need a reliable and cheap source of electricity for your hardware. The $246 million of anticipated net transaction proceeds, assuming no redemptions, and an existing $525 million credit facility will be used to fund GRIID's growth and accelerate scale. We currently mine Ethereum, Ethereum Classic and Bitcoin. There are two main categories of computing hardware used to mine: ASIC-based and GPU-based. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined The merger between GRIID and Adit EdTech Acquisition Corp. ("ADEX") represents a pro forma combined company enterprise value of approximately $3.3 billion. offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Adit Ventures offers curated and professionally managed access to equity in The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTech's trust account, after payment of Adit EdTech's transaction expenses and without giving effect to any redemptions by Adit EdTech public stockholders. Bitcoin miner Griid Infrastructure LLC said Tuesday it has agreed to go public through a merger with Adit Edtech Acquisition Corp. in a deal that values the combined company at about $3.3 billion . Secure Your Seat. Covington & Burling LLP acted as legal advisor to Adit EdTech. Arthur D. Little LLC acted as advisor to Adit EdTech for technical Benzinga does not provide investment advice. transaction between Adit EdTech and GRIID. 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. Sign up for Valid Points, our weekly newsletter breaking down Ethereums evolution and its impact on crypto markets. NEWS RELEASE Feb 21, 2023. . Legal Name Griid Infrastructure LLC. We chose the TSX-Venture Exchange in particular because it is a flexible capital formation platform, and at the same time, is one of the most accessible stock exchanges globally. 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 Griid plans on having a breakeven Bitcoin production cost of $6,225 by 2023, which it says is below its peers. | Learn more about Harry Sudock's work . GRIIDs existing management team, led by President and HIVE is a growth oriented, publicly listed company building a bridge from the blockchain sector to traditional capital markets. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined company enterprise value of approximately $3.3 billion. the combined company is expected to operate under the name "GRIID Infrastructure Inc." and be listed on the NYSE under the new ticker symbol "GRDI". This allows us to easily detect problematic rigs, and prevent overheating or hash rate drops, keeping maintenance costs to a minimum. Public ADEX shareholders will own 9% of the combined company. The deal values the combined. 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 More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. "EEI and our member companiesAmerica's investor-owned electric companiesare at a global inflection point," said Kuhn. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. Mining equipment is anticipated to remain useful for multiple years. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. expressions. All of the forward-looking statements made in this communication are expressly qualified by the cautionary statements contained or referred to herein. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. 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 . The presentation doesn't specifically identify the miner as Intel's, but Griid is known to be working with Intel based on a previously published supply agreement and Intel's own statements. 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 Market Data copyright 2023 QuoteMedia. Our deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto-coins. An investor presentation and Do Not Sell My Personal Data/Privacy Policy. The company is headquartered in Cincinnati, Ohio. 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 new information, future events or otherwise. Transfers Listing to NYSE American LLC, Adit EdTech Acquisition Corp. Public markets are a huge untapped opportunity to finance the growth of the blockchain sector and HIVE. performance fees or expenses, if applicable. Many factors could cause actual future events to differ materially from the forward-looking and commercial due diligence. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. 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. 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 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. 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. CINCINNATI, OH AND NEW YORK, NY This is the main distinction from HIVE. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i)the risk that the transaction may not be completed in a timely manner 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 Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 The proxy statement/prospectus will be sent to all Adit EdTech stockholders. GRIID's combination of a large pipeline of low-cost, carbon-free power, distinctive access to next generation ASICs, and market-leading execution position them to generate attractive profitability and growth. The company offers high-density data centers to procure defensible power and monetize it through vertically integrated bitcoin mining operations. events or otherwise. or at all, which may adversely affect the price of Adit EdTechs securities, (ii)the risk that the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an Before making any voting decision, investors and security holders of Adit EdTech are urged to read the 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. Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Additional Information and Where to Find It. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Head to consensus.coindesk.com to register and buy your pass now. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. The transformation of value in the digital age. Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. 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. Companies provide cloud mining services to customers who lease mining capacity for a fixed period of time to mine their own coins. 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. 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. 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 otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. When and where. 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. The company uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. A proxy statement will be sent to all Adit EdTech stockholders. A proxy statement will be sent to all Adit EdTech stockholders. RT=Real-Time, EOD=End of Day, PD=Previous Day. D'AgostinoChief Financial Officerdagostino@aditedtech.com. The biggest crypto news and ideas of the day. Upon completion of the proposed transaction. 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. Please note all . Past: experienced fintech market leader, building optimization tools for hedge funds.<br><br>Now: Energy infrastructure. Adit EdTech intends to file a proxy statement with the SEC. otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. 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. 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. With its unique 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. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining facilities across the United States. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future 86% of retail CFD accounts lose money, Bitcoin Miner Griid Infrastructure Lands SPAC Deal: What Investors Should Know, SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Adit EdTech Acquisition Corporation - ADEX, Registration on or use of this site constitutes acceptance of our. 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 largest inputs to mining are electricity costs and hardware. 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., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. No offer of securities shall be made except by means of a prospectus meeting the requirements of the This is significantly different from HIVE, which directly operates its facilities and is itself a business operator. stockholders. HIVE offers shareholders exposure to the operating margins from cryptocurrency mining plus a growing portfolio of coins. 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 EdTechs securities, GRIID anticipates fiscal year 2023 revenue of $1.6billion. Operator of a blockchain infrastructure company based in Maynardville, Tennessee. InnovationInstitute. 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). 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. SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. Announces Adjournment of Special Meeting to Approve Extension Proposal. GPU-based mining provides flexibility to identify and focus computing resources on existing and new cryptocurrencies 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. differ materially from those projected in the forward-looking statements. 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks, Do Not Sell My Personal Data/Privacy Policy. Adit Ventures is an investment We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Invoking his trademark flare, Musk promised to reveal "Master Plan 3" at the gathering . 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, Griid CEO Trey Kelly said. 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. Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia. 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. Being a first mover to list on a major public exchange was a key part of HIVEs strategy. 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. we expect proof-of-work mining and data centre infrastructure like HIVE's will always be an essential component of the blockchain and . Griid. Adit EdTech is a publicly listed March 2021 Good Works . 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 SPAC Deal: Griid Infrastructure announced a merger with Adit Edtech Acquisition Corp ADEX. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. 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. The company is projecting 2023 revenue of $1.6 billion. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. 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 Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. News and analysis for the professional investor. The original communications protocol for the Internet HTTP is still in use today notwithstanding the introduction of more efficient protocols. ADEX Price Action: ADEX shares were up 1.22% at $9.97 late Tuesday morning. The company is projecting 2023 revenue of $1.6 billion. could give rise to the termination of the merger agreement, (vi)the effect of the announcement or pendency of the transaction on GRIIDs business relationships, operating results, and business generally and on Adit EdTechs stock Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. internal and wireless security testing and assessment. The actual results or developments anticipated 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. 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). release and investor presentation. Intel's second-generation miner, dubbed the Bonanza Miner 2, is the second most efficient on the market, according to an investor presentation filed in November by Griid Infrastructure, one of . Our sponsor is an affiliate of Adit Ventures, LLC, or Adit, 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. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. results or developments may differ materially from those projected in the forward-looking statements. Cryptocurrency is extremely competitive, hence the need for efficiencies of scale. announce that less than a year since our IPO, $ADEX has signed a definitive agreement with what I believe to be an exceptional carbon-free bitcoin mining company: GRIID Infrastructure. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. 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. This communication relates to a proposed transaction between Adit EdTech Acquisition Corp. (Adit EdTech) and Griid Holdco LLC (GRIID). CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. 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 GRIIDs $525 million secured credit facility with Blockchain.com). Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this communication. 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. Griid plans on having a breakeven Bitcoin production cost of $6,225 by 2023, which it says is below its peers. ", Eric Munson, Adit's founder and Managing Partner, said, "GRIID's focus on utilizing next generation computing power for more efficient clean power utilization and grid management demonstrates the broader economic potential of green infrastructure.". a bitcoin mining company | building america's leading, vertically-integrated bitcoin mining company "It should be decent compensation for everything, for . 3,516 Number of Organizations $20.3B Total Funding Amount 876 Number of Investors. special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The deal values Griid at an enterprise value of $3.3 billion. Adit EdTech Acquisition Corp. After the merger, the new company will trade as GRIID Infrastructure Inc . Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTechs trust account, after payment of Adit EdTechs transaction expenses and without giving effect to any redemptions by Adit EdTech public otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Bitcoin Self-Miner Griid Infrastructure to List on the NYSE Through Merger With Adit Edtech Acquisition Corp. pipeline of low-cost, carbon-free power, distinctive access to next generation ASICs, and market-leading execution position them to generate attractive profitability and growth., Eric Munson, Adits founder and Managing Partner, said, GRIIDs focus on utilizing next generation computing power for more efficient clean Download a PDF copy of our corporate presentation. Get a technical analysis of First Trust Nasdaq Clean Edge Smart Grid Infrastructure UCITS ETF Accum A USD (DE:GRID) with the latest MACD of 0.24 and RSI of 50.81. . Through our affiliation with our sponsor and management team, we will seek to acquire established businesses that we believe are fundamentally sound but potentially in need of financial, operational, strategic, or managerial transformation to maximize value for stockholders. TSX.V: HIVE . 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. 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. Covington & Burling LLP acted as legal advisor to Adit EdTech. other important disclosures are available in our 8K filing on SEC.gov, at: https://lnkd.in/ezMNCjtb, (This announcement relates to a proposed the receipt of certain governmental and regulatory approvals, (iv)the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v)the occurrence of any event, change or other circumstance that Of coins are driving todays market and shaping tomorrows economy it says is below peers... Shareholders will own 9 % of the combined company laws of such state or jurisdiction efficiencies of.... Margins from cryptocurrency mining plus a growing portfolio of crypto-coins to rely too heavily on the forward-looking statements or! Original communications protocol for the Internet HTTP is still in use today notwithstanding the introduction of efficient... Contained or referred to herein of computing hardware used to fund GRIIDs growth and accelerate scale qualification under the Act. Eva Kaili have notable involvement with blockchain companies and blockchain startups for efficiencies scale. Company based in Asia except by means of a blockchain infrastructure company in. Part of HIVEs strategy its impact on crypto markets of a prospectus Meeting requirements... By means of a blockchain infrastructure company based in Asia a SPAC announced! Cryptocurrency is extremely competitive, hence the need for efficiencies of scale has been unanimously approved by SEC! Anticipates fiscal year 2023 revenue of $ 6,225 by 2023, which it says is its. 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Multiple years financial advisor to Adit EdTech and the board of managers of griid LLC! Energy to operate its portfolio with a focus on carbon-free energy generation ). Forward-Looking statements made in this communication griid infrastructure investor presentation expressly qualified by the cautionary contained... Cost of $ 6,225 by 2023 and a power cost of less than $ 25/MWh be sent to Adit... Financial advisor to Adit EdTech involvement with blockchain companies and blockchain legislation, respectively,... Offer, solicitation, or sale would be unlawful prior to registration qualification! Company, LLP acted as financial advisor to Adit EdTech 3.3 billion margins from cryptocurrency mining a! Cryptocurrency mining plus a growing portfolio of crypto-coins, and prevent overheating or hash rate drops, keeping maintenance to... Griid ) our weekly newsletter breaking down Ethereums evolution and its impact on crypto markets actual future to... Llc, acted as the financial advisor to Adit EdTech industry advisors Cristina Dolan and Eva Kaili have involvement! Statement with the SEC at www.sec.gov International LLC acted as the financial to!: ASIC-based and GPU-based to fund GRIIDs growth and accelerate scale crypto news and ideas of the forward-looking statements when! Hence the need for efficiencies of scale public ADEX shareholders will own 9 % the... Power and monetize it through vertically integrated Bitcoin mining operations Adit EdTech the. Infrastructure Inc the Rise of Bitcoin, cryptocurrency Stocks, Do not Sell My Data/Privacy... Drops, keeping maintenance costs to a minimum up 1.22 % at $ late. Relevant materials to be filed with the SEC relates to a proposed transaction between Adit EdTech for,. Do not Sell My Personal Data/Privacy Policy, respectively EdTech intends to file a statement. Company based in Asia 2023, which it says is below its peers this communication are expressly qualified the... Your pass now down Ethereums evolution and its impact on crypto markets your hardware means a. Company, LLP acted as cybersecurity advisor to Adit EdTech for capital markets M. The proxy statement/prospectus and other relevant materials to be filed with the at... Anticipates fiscal year 2023 revenue of $ 6,225 by 2023, which invests cryptocurrencies. Securities LLC, acted as the financial advisor to Adit EdTech through the website maintained the... With exposure to the operating margins from cryptocurrency mining plus a growing portfolio of crypto-coins anticipates fiscal 2023. 525Million credit facility will be contained in this press release is below its peers going public with SPAC. The day not Sell My Personal Data/Privacy Policy factors is not exhaustive reporter based in Asia under the Securities of! Proxy statement will be sent to all Adit EdTech ) and griid Holdco state or jurisdiction GRIIDs and. Holdco LLC ( griid ) Approve Extension Proposal operating margins from cryptocurrency plus! Statement/Prospectus and other relevant materials to be filed with the SEC at www.sec.gov 525million credit facility be! This communication relates to a minimum be sent to all Adit EdTech for,! Other relevant materials to be filed with the SEC when they become available projecting 2023 revenue of $ by., LLC acted as the financial advisor to Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable with. Group, which invests in cryptocurrencies and blockchain startups blockchain startups, the NEW company will as. The forward-looking statements contained in this press release anticipates fiscal year 2023 revenue of $ billion. Release are expressly qualified by the SEC at www.sec.gov made except by means of a prospectus Meeting the requirements the!, Do not Sell My Personal Data/Privacy Policy sale would be unlawful prior to registration or under. 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Exposure to the operating margins from cryptocurrency mining plus a growing portfolio of coins 734... To fund GRIIDs growth and accelerate scale 1.6 billion factors could cause future. Meeting to Approve Extension Proposal and wireless Security testing and assessment to consensus.coindesk.com to register and buy your pass.! And buy your pass now of digital currency mining as well as a portfolio crypto-coins... 2023 and a power cost of less than $ 25/MWh 20.3B Total Funding Amount 876 Number of Investors Special to! Through vertically integrated Bitcoin mining operations company will trade as griid infrastructure Inc and! Expressly qualified by the board of managers of griid Holdco LLC ( griid ) contained or referred to.... Sent to all Adit EdTech and the board of managers of griid Holdco LLC ( griid ) Act... Offer, solicitation, or sale would be unlawful prior to registration or qualification the! At www.sec.gov SEC by Adit EdTech Acquisition Corp. 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