Bitcoin Mining Firm GRIID Begins Trading on Nasdaq
Today, Bitcoin mining company GRIID started trading on the Nasdaq stock exchange with the ticker symbol “GRDI.” This is a significant milestone for GRIID as it enters the U.S. market, according to CEO Trey Kelly. The company believes that its listing on Nasdaq will increase visibility, liquidity, and broaden its investor base.
GRIID’s listing on Nasdaq follows its merger with special purpose acquisition company Adit EdTech Acquisition Corp. on January 2. The company was previously listed on Cboe Canada and will continue to trade on the Canadian exchange with the same ticker symbol.
What is a SPAC Deal?
A SPAC deal involves an acquiring company formed specifically to take a private firm public. In this case, Adit EdTech Acquisition Corp. facilitated GRIID’s transition to becoming a publicly traded company.
GRIID is headquartered in Cincinnati and has been operating bitcoin mining facilities since 2019. The company focuses on obtaining affordable, reliable, and environmentally responsible power. It currently operates four mining facilities in the United States.
GRIID joins other bitcoin mining companies like Riot Blockchain and Marathon Digital in being listed on Nasdaq.
Hot Take: Bitcoin Mining Company GRIID Makes Nasdaq Debut
GRIID’s entrance into the Nasdaq stock exchange represents a major step forward for the bitcoin mining industry. By trading publicly, GRIID gains increased visibility and access to a larger pool of investors. This move highlights the growing recognition and acceptance of cryptocurrencies within traditional financial markets. As more mining companies list on prominent exchanges like Nasdaq, it further validates the importance of crypto mining as a legitimate business sector. The success of GRIID’s listing could inspire other mining firms to follow suit, leading to greater mainstream adoption of cryptocurrencies.
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