People familiar with the matter: Bitcoin miner Griid and Adit (ADEX.US) negotiate a merger and listing

People familiar with the matter: Bitcoin miner Griid and Adit (ADEX.US) negotiate a merger and listing

2021/11/26

According to people familiar with the matter, Bitcoin miner Griid Infrastructure is negotiating listing matters with Adit EdTech Acquisition Corp. (ADEX.US), a unique purpose acquisition company (SPAC). One of the people familiar with the matter said that if the transaction is successful, the combined company will be valued at more than $3 billion. However, the terms have not yet been finalized, and negotiations may still break down. Spokespersons for Adit EdTech and Griid declined to comment. Griid announced this week that it had received $525 million in facilities from Blockchain.com. Trey Kelly, founder and CEO of Griid said that this four-year facility would help it increase production capacity and scale.

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