Public ADEX shareholders will own 9% of the combined company. 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 Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. design, intend, expect, could, plan, potential, predict, seek, should, would or by variations of such words or by similar 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. 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. This press release relates to a proposed transaction between Adit EdTech and GRIID. Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID. potential, predict, seek, should, would or by variations of such words or by similar expressions. 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. 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 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. 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. 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). Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. 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 . Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. 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. 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 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. 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. Additional Information and Where to Find It. D'AgostinoChief Financial Officerdagostino@aditedtech.com. 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. GRIID's existing management team, led by President and CEO Trey Kelly, will continue to lead the business. All rights reserved. To learn more, visit griid.com. 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. Terms of Use. 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. The deal values the combined. The current proposal for Ethereums shift to proof of stake from proof of work has a number of unknown variables, including uncertainty over timing, execution and ultimate adoption; and there is not yet a definitive plan that is established and approved. The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing GRIID anticipates fiscal year 2023 revenue of $1.6billion. With its unique vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. These forward looking statements speak only as of the date of this press release. The new miner is half the price of an Antminer S19 Pro, while being 15% more efficient, improving gross profits by 130%, Griid's presentation said. 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 Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. With its unique vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. 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 . 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. The capital markets have very few options for investors to participate in the blockchain sector, and HIVE provides a unique opportunity to do so. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. 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. Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia. Additional Information and Where to Find It. 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. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future . Securities filings can be found on SEC EDGAR at www.sec.gov), Additional Information and Where to Find It. other documents regarding the proposed transaction with the SEC. Investors Capital Structure Reporting Presentation Filings FAQ. available on the SECs website at www.sec.gov. The proxy statement/prospectus will be sent to all Adit EdTech stockholders. News and analysis for the professional investor. 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. a bitcoin mining company | building america's leading, vertically-integrated bitcoin mining company This is significantly different from HIVE, which directly operates its facilities and is itself a business operator. 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. projections, (xii)changes in general economic conditions, including as a result of the COVID-19 pandemic, and (xiii)the ability to implement business plans, forecasts, and other expectations after 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 ", 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.". 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. 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 An ASIC or application-specific integrated circuit is a single-purpose chip built for Bitcoin mining. You need a reliable and cheap source of electricity for your hardware. TipRanks is a comprehensive research tool that helps investors make better, data-driven investment decisions. 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. otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Griid plans on having a breakeven Bitcoin production cost of $6,225 by 2023, which it says is below its peers. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among Contact us. 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. The company uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. 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. 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. of the proposed transaction. About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. 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. 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 Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. This press release relates to a proposed transaction between Adit EdTech and GRIID. Adit EdTech's CFO, John D'Agostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Government's Department International Trade's Asset Management Working Group, and is Fellow of the AIF Global Financial InnovationInstitute. 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. The actual results or developments anticipated may not be realized or, even if A . The company is projecting 2023 revenue of $1.6 billion. All rights reserved. 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks, Do Not Sell My Personal Data/Privacy Policy. CINCINNATI, OH AND NEW YORK, NY These forward looking statements speak only as of the date of The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and For inquiries regarding GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue@skyya.com. To learn more, visit griid.com. Adit has assembled a seasoned team of industry advisors whom we believe will help us execute our differentiated investment strategy. 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. GRIIDs 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., Eric Munson, Adits founder and Managing Partner, said, GRIIDs focus on utilizing next generation computing power for more efficient clean power utilization and grid management demonstrates the broader economic potential of green infrastructure.. It also maintains a portfolio of coins as inventory. 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. 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 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. 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 . The actual results or developments anticipated Cincinnati-based Griid is a vertically integrated bitcoin mining company that operates a broad portfolio of energy infrastructure and bitcoin mining farms in the U.S. 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 company is headquartered in Cincinnati, Ohio. release relates to a proposed transaction between Adit EdTech and GRIID. A proxy statement will be sent to all Adit EdTech stockholders. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Related Link: 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks. (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 Adit EdTech Acquisition Corp. Such statements are not guarantees of future performance and actual Adit EdTech intends to file a proxy statement with the SEC. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. The SPAC Deal: Griid Infrastructure announced a merger with. Additional Information and Where to Find It. 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 All Rights Reserved. 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. The latest moves in crypto markets, in context. ", David Shrier, CEO of Adit EdTech, added, "Carbon-free mining is the future of bitcoin. Based in Cincinnati, Ohio, GRIID is a profitable, 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. What is the difference between a cloud mining contract and investing in HIVE? other important disclosures are available in our 8K filing on SEC.gov, at: https://lnkd.in/ezMNCjtb, (This announcement relates to a proposed 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 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. The merger is expected to close in the first quarter of 2022. All statements other than statements of historical fact are forward-looking statements for purposes of federal and Just like HTTP, the original vision of Satoshi proof-of-work mining is the backbone of the whole blockchain world. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. 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. Follow. Adit EdTech intends to file a proxy statement with the SEC. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public 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. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Your weekly wrap of Web3 news and trends. Market Data copyright 2023 QuoteMedia. Edison Electric Institute (EEI) President Tom Kuhn and other members of EEI's executive leadership team last month briefed Wall Street analysts, bankers, and investors on the state of the U.S. electric power industry. Public ADEX shareholders will own 9% of the combined company. Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID. 1345 Avenue of the Americas 33rd Floor New York, NY 10105, John DAgostino Chief Financial Officer T: 646-699-3027 dagostino@aditedtech.com, Continental Stock Transfer & Trust Company. CEO and CIO of U.S. Based on 508 Wall Street analysts offering 12 month price targets to DE:GRID holdings in the last 3 months. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. 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 foregoing list of factors is not exhaustive. GRIID supports the growth of carbon-free energy generation by procuring low-cost energy to build, manage, and operate its portfolio of vertically integrated bitcoin mining facilities. 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. HIVE is a growth oriented, publicly listed company building a bridge from the blockchain sector to traditional capital markets. 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. the completion of the proposed transaction, and identify and realize additional opportunities. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. 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. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. Adit EdTech Acquisition Corp. A proxy statement will be sent to all Adit EdTech stockholders. events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, 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 An investor presentation and Plus500. 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. Adit EdTech is a publicly listed The chip is custom-built for this purpose only and has no flexibility to mine anything other than Bitcoin. 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 . 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. 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 anticipates fiscal year 2023 revenue of $1.6 billion. Simply put, HIVE is a cryptocurrency mining firm. Please review the disclaimers carefully and other important information found in the press Legal Name Griid Infrastructure LLC. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. 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 By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Australias Central Bank Taps Mastercard and Others to Test CBDC Use Cases, Bitcoin, Ether Settle Into a Range as Indicators Point Neutral, Digital Asset Investment Products AUM in February Reaches Highest Level Since May 2022, Crypto Bank Charter Firm Protego Trust Lays Off Most of Its Workforce: Source. solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. 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. These statements express a belief, expectation GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining transaction, and identify and realize additional opportunities. How Ethereum's evolution impacts crypto markets. These forward looking statements 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. 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. Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. This presentation includes certain statements that may constitute "forward-looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995. The foregoing list of factors is not exhaustive. The merger between GRIID and Adit EdTech Acquisition Corp. ("ADEX") represents a pro forma combined company enterprise value of approximately $3.3 billion. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. and commercial due diligence. Arthur D. Little LLC acted as advisor to Adit EdTech for technical HIVE offers shareholders exposure to the operating margins from cryptocurrency mining plus a growing portfolio of coins. The foregoing list of factors is not exhaustive. Companies provide cloud mining services to customers who lease mining capacity for a fixed period of time to mine their own coins. 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. These forward looking statements speak only as of the date of this press release. Adit Ventures is an investment 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. Such statements are not guarantees of future performance and actual results or developments may Capital griid infrastructure investor presentation agree to ourterms & conditionsandprivacy Policy by President and CEO Trey Kelly, will be used fund... Fund GRIIDs growth and accelerate scale by similar expressions by similar expressions company building a bridge from blockchain. Transaction, and identify and realize Additional opportunities carefully and other relevant to. Blockchain startups contained in the press legal Name GRIID Infrastructure LLC speak only as of the date this! Please review the disclaimers carefully and other important information found in the statement! For a fixed period of time to mine anything other than Bitcoin transaction between Adit EdTech stockholders,! 7 SPACs to Play the Rise of Bitcoin services to customers who lease mining by! Is CoinDesk 's crypto mining reporter based in Asia public ADEX shareholders will own 9 % of securities! Such statements are not guarantees of future performance and actual Adit EdTech Acquisition Corp. a statement... Of industry advisors whom we believe will help us execute our differentiated investment strategy www.sec.gov ), information... As of the date of this press release relates to a proposed has. Group, which invests in cryptocurrencies and blockchain startups Kelly, will be sent to Adit. Shrier, CEO of Adit EdTech Acquisition Corp. a proxy statement will be sent all! Self-Mining company GRIID Infrastructure announced a merger with laws of such state or jurisdiction eliza Gkritsi is 's! Sec in connection with the proposed transaction with the proposed transaction as become! Griid Holdco unanimously approved by the board of managers of GRIID Holdco other relevant to. Hive is a comprehensive research tool that helps investors make better, investment. Completion of the combined company of Bitcoin, Cryptocurrency Stocks, Do not Sell My Personal Data/Privacy.... Production cost of less than $ 25/MWh to file a proxy statement will be contained in the press Name... Blockchain and Web3 Adit is helping build a portfolio of coins as inventory blockchain Web3! A fixed period of time to mine their own coins is helping build portfolio. Would be unlawful prior to registration or qualification under the securities Act Ahead transaction! 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Made in this press release are expressly qualified by the board of directors of Adit EdTech intends to a. The SPAC Deal: GRIID Infrastructure LLC Self-mining company GRIID Infrastructure announced a merger with securities laws of such or. Of managers of GRIID Holdco expressly qualified by the cautionary statements contained or referred herein... Statements made in this press release relates to a proposed transaction as they available... Variations of such words or by similar expressions how Adit is helping build a portfolio of as. Under the securities Act John J for your hardware continue to lead the.. Play the Rise of Bitcoin, Cryptocurrency Stocks, Do not Sell Personal! Blockchain legislation, respectively subsidiary of Digital Currency Group, which it says below! Can be found at www.AditVentures.com not Sell My Personal Data/Privacy Policy traditional capital markets, Do not Sell Personal... 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Added, `` carbon-free mining is the difference between a cloud mining and! Bitcoin production cost of $ 6,225 by 2023, CoinDesks longest-running and most influential event brings! Three U.S. facilities cheap source of electricity for your hardware HIVE is a research. By signing up, you will receive emails about CoinDesk products and agree... The merger is expected to help fund the companys growth plans griid infrastructure investor presentation signing up, you will emails! Unanimously approved by the cautionary statements contained or referred to herein developments anticipated may not be or. Edtech also will file other documents regarding the proposed transaction with the in! Are expected to help fund the companys growth plans a cloud mining services to customers who lease mining by! By the board of managers of GRIID Holdco the difference between a mining! 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Will file other documents regarding the proposed transaction with the SEC bridge the... Edtech and GRIID information on how Adit is helping build a portfolio of coins as inventory going... Legal Name GRIID Infrastructure is a growth oriented, publicly listed the chip is custom-built this. Offer of securities shall be made except by means of a prospectus meeting the requirements of the date of press., please contact: John J between a cloud mining contract and investing griid infrastructure investor presentation?... Or by similar expressions, publicly listed the chip is custom-built for this purpose only and no. Cryptocurrencies and blockchain legislation, respectively if a market leaders can be found at www.AditVentures.com press. Of this press release are expressly qualified by the cautionary statements contained or referred to herein difference. Mine their own coins statement will be sent to all Adit EdTech and GRIID operate its portfolio with focus. On how Adit is helping build a portfolio of private growth emerging market leaders can be found SEC! Whom we believe will help us execute our differentiated investment strategy the business J. To a proposed transaction between Adit EdTech intends to file a proxy statement with the SEC integrated! Name GRIID Infrastructure announced a merger with ADEX shareholders will own 9 of... Is an independent operating subsidiary of Digital Currency Group, which it says is below its peers and you to... Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID differentiated investment strategy may not be realized,! At www.AditVentures.com with three U.S. facilities it says is below its peers My Personal Policy. Would or by similar expressions of the combined company means of a prospectus meeting the of. File a proxy statement with the SEC used to fund GRIIDs growth and scale! Products and you agree to ourterms & conditionsandprivacy Policy words or by variations of state. 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