Cleanspark Acquires Griid in $155 Million All-Stock Deal to Boost BTC Mining Operations. In a significant expansion move, Cleanspark, a leading U.S. bitcoin mining company, has announced the acquisition of its rival firm Griid for $155 million. This strategic all-stock transaction aims to enhance Cleanspark’s mining capacity, particularly in the aftermath of Bitcoin’s fourth halving event which has increased the pressure on mining profitability. Cleanspark Acquires Griid in Strategic Move. The acquisition, first reported on by theminermag.com, which includes the assumption of debt, brings 20 megawatts (MW) of additional hosting capacity to Cleanspark immediately upon closing. Cleanspark‘s CEO, Zack Bradford, stated that this merger is poised to substantially increase their operational capacity. Bradford expects to surpass 100 MW in Tennessee by the end of this year, with plans to reach 200 megawatts by 2025 and over 400 megawatts by 2026.
https://yakihonne.s3.ap-east-1.amazonaws.com/6789a15735d4ac7cb13396ac59a0bdc813680111b9df4a7ff2497a364c869fb9/files/1718794919558-YAKIHONNES3.jpg
The agreement involves Cleanspark purchasing all of Griid's outstanding stock in an all-stock transaction. As part of the deal, Cleanspark will also assume Griid's debts. Additionally, an exclusive hosting agreement has been established, granting Cleanspark access to 20 megawatts of power
Oddbean new post about login | logout 