Bitcoin mining company Griid announced that it will merge with Adit EdTech Acquisition Corp through a special purpose acquisition company (SPAC) to be listed on the New York Stock Exchange under the stock code “GRDI”.
After the merger, Griid which is headquartered in Cincinnati and focuses on providing vertical integration will be valued at as high as $3.3 billion.
According to the plan, Griid expects to receive approximately US$246 million in cash from Adit EdTech. The transaction is expected to be completed in the first quarter of next year.
Griid stated that the team has always built a portfolio of Bitcoin …