Bitcoin Miner GRIID Makes a Splash on Nasdaq
America-based Bitcoin miner GRIID has recently started trading on the Nasdaq stock marketplace. GRIID is known for its vertically integrated Bitcoin mining facilities that utilize low-cost and low-carbon energy. Established in 2018, the company began operating as a Bitcoin mining facility in 2019 and has since built strong power relationships.
These relationships enable GRIID to secure affordable, reliable, and environmentally responsible power, supporting its vertically integrated self-mining business model with significant growth potential.
The latest development sees the company venturing into trading its common stock and warrants on Nasdaq Global Market. GRIID’s common stock will trade under the ticker “GRDI,” while the company’s warrant will trade under the ticker symbol “GRDIW.” The common stock will continue to trade on Cboe Canada under the same ticker.
Trey Kelly, the CEO of GRIID, sees this move as a significant milestone that will increase the company’s visibility and liquidity on the market. He believes it will also help enhance their investor base.
GRIID and Its SPAC Merger
GRIID’s listing on Nasdaq comes as part of its efforts to strengthen its market position and deliver shareholder value. The listing was made possible through a successful merger with special purpose acquisition company Adit EdTech Acquisition Corp.
Such a SPAC deal involves an acquiring company formed to acquire a private firm and take it public. The acquisition was completed on January 2nd, after two years since the initial proposal. Following the SPAC merger, GRIID’s common stock was listed on Cboe Canada. Another Bitcoin miner, Core Scientific, is also preparing to return to the Nasdaq stock market.
This acquisition adds GRIID to the growing list of publicly traded companies in the crypto ecosystem, alongside Coinbase Global and Marathon Digital.
Hot Take: Bitcoin Miner GRIID Expands its Reach through Nasdaq Listing
GRIID’s listing on the Nasdaq stock marketplace marks a significant milestone for the Bitcoin miner. By expanding its trading to Nasdaq, GRIID aims to increase its visibility, liquidity, and investor base. This move comes after a successful merger with Adit EdTech Acquisition Corp, which allowed GRIID to strengthen its market position and deliver value to shareholders. With more Bitcoin miners like GRIID entering the public trading space, it further contributes to the growth and development of the crypto ecosystem. The listing on Nasdaq opens up new opportunities for GRIID and sets the stage for its continued success in the industry.
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