- Bitcoin mining company GRIID has begun trading on the Nasdaq stock exchange.
- GRIID’s debut on Nasdaq follows its recent merger with Adit EdTech Acquisition Corp.
- The company, which operates four mining facilities in the U.S., joins the ranks of other Bitcoin mining firms listed on Nasdaq.
GRIID made its official debut on Nasdaq following its recent merger with Adit EdTech Acquisition Corp., a special-purpose acquisition company. This merger, which was proposed over two years ago, was finalized on January 2. Upon the completion of the merger, GRIID was listed on Cboe Canada and it will maintain its presence on the Canadian exchange, trading under the same ticker symbol.
Excited and grateful to be making our debut on Nasdaq today.
— Trey Kelly (@treykelly3) January 29, 2024
GRIID CEO Trey Kelly expressed his excitement about the company’s debut on Nasdaq. “Today marks a significant milestone for GRIID as we begin to trade in the U.S. market,” Kelly said. He believes that the listing on Nasdaq will enhance GRIID’s visibility, and liquidity, and broaden its investor base as the company continues to strengthen its market position.
GRIID’s debut on Nasdaq, a stock exchange recognized for its rigorous listing standards and its capacity to draw forward-thinking firms, offers GRIID a significant opportunity to demonstrate its pioneering approach and leadership to a broader market. This development is particularly significant given the rapid expansion of the Bitcoin mining industry.
GRIID’s Outlook on the Future of Bitcoin Mining and Crypto Adoption
Founded in 2018, Cincinnati-based GRIID has operated Bitcoin mining facilities since 2019. The company has built long-term power relationships securing affordable, reliable, environmentally responsible power, enabling a vertically integrated self-mining business model with significant growth opportunities.
GRIID is currently managing four mining facilities in the U.S., specifically in Watertown, New York, Limestone, Maynardville, and Lenoir City, Tennessee. The company has joined the ranks of other Bitcoin mining firms like Riot Platforms and Marathon Digital which are listed on the Nasdaq.
This move coincides with the recent approval of a Bitcoin ETF, highlighting the company’s strategic growth in the booming Bitcoin mining sector. As GRIID begins its journey on Nasdaq, it reinforces its commitment to delivering shareholder value and integrating power markets with Bitcoin mining.
The debut of GRIID on Nasdaq is a testament to the growing acceptance and integration of cryptocurrency-related businesses into mainstream financial markets. It represents a significant step forward in the legitimization of the cryptocurrency industry and its potential for future growth.