GRIID Begins Trading on Nasdaq
Today, Bitcoin mining company GRIID announced that it has commenced trading on the Nasdaq stock exchange under the ticker symbol ‘GRDI’. GRIID CEO Trey Kelly expressed excitement about the milestone, stating that the listing on Nasdaq will enhance visibility and liquidity while broadening the investor base. Currently, GRDI is trading at $6.10 according to Google Finance.
Expanding Bitcoin Mining Operations
In 2021, GRIID secured a $525 million credit facility from Blockchain.com. Although the company initially planned to list on the New York Stock Exchange, it has now joined other Bitcoin mining companies like Riot Platforms and Marathon Digital by listing on Nasdaq. Based in Cincinnati, GRIID focuses on cost-effective and environmentally responsible power for its four Bitcoin mining facilities.
A New Dawn for GRIID Infrastructure Inc.
After merging with Adit EdTech Acquisition Corp in December 2023, GRIID was listed on Cboe Canada and renamed GRIID Infrastructure Inc. The company had 20,623 Bitcoin mining machines installed as of September 30 and aims to increase its carbon-free power usage to 90% by the end of 2024. In Q3 of 2023, GRIID reported revenues of $2.6 million.
Hot Take: A Promising Step for GRIID
GRIID’s debut on Nasdaq marks a significant milestone for the Bitcoin mining company. With enhanced visibility and liquidity, this listing has the potential to attract more investors and strengthen its market position. As GRIID continues to expand its operations and focus on environmentally responsible practices, it is well-positioned to capitalize on the growing demand for Bitcoin mining services.
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