When and where. Download a PDF copy of our corporate presentation. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among 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. 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). No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. a bitcoin mining company | building america's leading, vertically-integrated bitcoin mining company Market Data powered by QuoteMedia. Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. public bitcoin miners at the lowest cost of scaled production. The latest moves in crypto markets, in context. 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 . differ materially from those projected in the forward-looking statements. 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. 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 . 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 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. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining Democratic countries worldwide should make Russia pay war reparations to Ukraine and cut all financial and economic ties with Moscow, Polish Climate Minister Anna Moskwa said on Wednesday. Additional Information and Where to Find It. RT=Real-Time, EOD=End of Day, PD=Previous Day. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. Track . other important disclosures are available in our 8K filing on SEC.gov, at: https://lnkd.in/ezMNCjtb, (This announcement relates to a proposed To learn more, visit griid.com. solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. 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". Public ADEX shareholders will own 9% of the combined company. 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 . The foregoing list of factors is not exhaustive. 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. . Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Pursuant to Rule 425 under the Securities Act of 1933. Being a first mover to list on a major public exchange was a key part of HIVEs strategy. Covington& Burling LLP acted as legal advisor to Adit EdTech. 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. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. GRIIDs existing management team, led by President and CEO Trey Kelly, will continue to lead the business. 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. 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. The following communication was posted by David Shrier on LinkedIn: I am pleased to About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving today's market and shaping tomorrow's economy. Adit EdTech is a publicly listed 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 merger is expected to close in the first quarter of 2022. CINCINNATI, Nov. 22, 2021 (GLOBE NEWSWIRE) -- GRIID Infrastructure, a vertically-integrated bitcoin self-miner, today announced it has secured a $525 million credit facility from Blockchain . The company uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. stockholders. Troutman Pepper Hamilton Terms of Use. Adit has assembled a seasoned team of industry advisors whom we believe will help us execute our differentiated investment strategy. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Secure Your Seat. 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 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. Description. 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. 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. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the 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. TipRanks is a comprehensive research tool that helps investors make better, data-driven investment decisions. . All rights reserved. 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 2022 Griid Infrastructure LLC. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. (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 On Tuesday, the three-year-old. The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing 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. These forward looking statements speak only as of the date of this press release. ", 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 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. Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. The proxy statement/prospectus will be sent to all Adit EdTech stockholders. The new miner will reach 135 terahash/second (TH/s), a measure of computing power, at an electricity efficiency of 26 joules/terahash (J/TH). Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. 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). The merger is expected to close in the first quarter of 2022. 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 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 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. The deal values Griid at an enterprise value of $3.3 billion. This makes it more efficient than, The second-gen Intel miner doesn't beat out, It is unclear whether Intel will be selling exactly the same mining rigs to all of its customers. A . For these reasons, we expect proof-of-work mining and data centre infrastructure like HIVEs will always be an essential component of the blockchain and cryptocurrency ecosystem. Market Data copyright 2023 QuoteMedia. Mining Companies With Fewer Than 50 Employees . This announcement 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 extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and 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. "It should be decent compensation for everything, for . 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). 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. After the merger, the new company will trade as GRIID Infrastructure Inc . 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 Griid Infrastructure General Information. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain 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. The actual results or developments anticipated All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. You will receive griid infrastructure investor presentation about CoinDesk products and you agree to ourterms & conditionsandprivacy policy of this release... Whom we believe will help us execute our differentiated investment strategy CoinDesk products and you agree to ourterms conditionsandprivacy! 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