The latest development in the Griid Infrastructure mine was that it now has a connection to ADEX, and will be entering the NYSE.
Griid Infrastructure, a global Bitcoin and Blockchain mining company, merged with blank check company Adit EdTech Acquisition Corp. As a result, the latter became Griid Holdco LLC’s new parent holding company.
After finalizing the transfer of shares, the new company is to be listed on the New York Stock Exchange (NYSE). It will provide shareholders with many benefits that include diversification, an elegant dividend policy, and a proven track record of profitability.
The company plans to enter the New York Stock Exchange with the name “GRIID Infrastructure Inc.” and will use the limited liability company (LLC) symbol “GRDI.” As of November 30, its total market valuation is around $3.3 billion.
The merger of Griid Technology and Adit Education Technologies will not change the current structure. Shareholders would own about 90% of the shares, public stockholders 8%, and sponsors 2%. The transaction will provide close to $250 million in cash from Adit EdTech’s escrow account.
Griid Infrastructure is a bitcoin mining company with significant investments in energy resources and partners. These investments have led to a deployable network that offers low-cost power lines, as well as renewable energy sources. They are working to provide an affordable alternative to bitcoin mining, making it more sustainable and environmentally friendly.
Griid is a company that promotes pro-ecological efforts. They are working with ADEX to reduce their carbon footprint and are committed to empowering their employees. Kelly from Griid believes that partnering with ADEX will further enhance the company’s abilities and help them reach their goals.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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