Bitcoin mining company GRIID debuts on Nasdaq with ‘GRDI’ ticker

Bitcoin miner GRIID will begin trading its common stock on the Nasdaq stock exchange under the ticker “GRDI” starting today, January 29th.

The Ohio-based miner said its Nasdaq listing provides an ideal stage for it to continue to showcase its leadership and innovation in the mining sector to a wider audience.

GRIID CEO Trey Kelly was pleased with the milestone and said, “This listing will enhance our visibility, liquidity and expand our investor base as we continue to strengthen our market presence and strengthen our commitment to delivering shareholder value.” He added:

“Since our launch in 2018, our mission has been to better integrate electricity markets with Bitcoin mining by leveraging low-cost, low-carbon energy. We see tremendous opportunity in building a company at the intersection of energy and money.” added Kelly. .

GRIID successfully mined 251 BTC in the nine months ended September 2023, according to a filing with the U.S. Securities and Exchange Commission (SEC) on January 9. The data further revealed the company’s average hash rate of 335 PH/s. Same period.

This update follows GRIID’s merger with Adit EdTech, backed by a Special Purpose Acquisition Company (SPAC). The merger, which was finalized last year, marks the culmination of a nearly two-year journey since the initial proposed business combination. The company was valued at approximately $625 million.

After the merger was completed, GRIID was listed on Cboe Canada under the same ticker. Trading will continue to take place on the platform, the statement said.

GRIID was founded in 2018 and has been operating a BTC mining facility since 2019. GRIID said securing affordable, reliable and environmentally responsible power offers significant growth opportunities for its own mining business model. The company operates four U.S. mining facilities in Watertown, New York. Limestone, Maynardville, and Lenoir City, Tennessee.