Bitcoin Miner Griid Plans to Go Public in $3.3 Billion Merger


Bitcoin Miner Griid Infrastructure LLC announced today it had entered into a definitive merger agreement with Adit EdTech Acquisition Corp. to list on the New York Stock Exchange (NYSE). Adit EdTech will acquire Griid Holdco LLC, a newly formed holding company and parent of Griid, in a deal that values the combined company at about $3.3 billion.

Upon completing the transaction, the company is expected to operate as Griid Infrastructure Inc. and list on the NYSE under the ticker symbol GRDI. The miner is expected to receive approximately $246 million in cash from the acquisition corporation at closing; Griid said its existing management team would continue to lead the business.

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