griid infrastructure investor presentation

The latest moves in crypto markets, in context. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, Wells Fargo Securities LLC, acted as the For these reasons, we expect proof-of-work mining and data centre infrastructure like HIVEs will always be an essential component of the blockchain and cryptocurrency ecosystem. Angel investor. Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. All statements other than statements of historical fact are forward-looking statements for purposes of federal and financial advisor to Adit EdTech for capital markets and M&A advisory services. All rights reserved. Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. and commercial due diligence. Public ADEX shareholders will own 9% of the combined company. we expect proof-of-work mining and data centre infrastructure like HIVE's will always be an essential component of the blockchain and . Additional Information and Where to Find It. stockholders. The company is projecting 2023 revenue of $1.6 billion. The SPAC Deal: Griid Infrastructure announced a merger with Adit Edtech Acquisition Corp (NYSE:ADEX). Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. Additional Information and Where to Find It. Its supply agreement with Griid includes design materials, which indicates that the miners' rigs could be tailor-made for or by the clients using Intel's mining chips. otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. 86% of retail CFD accounts lose money, Bitcoin Miner Griid Infrastructure Lands SPAC Deal: What Investors Should Know, SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Adit EdTech Acquisition Corporation - ADEX, Registration on or use of this site constitutes acceptance of our. The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTech's trust account, after payment of Adit EdTech's transaction expenses and without giving effect to any redemptions by Adit EdTech public stockholders. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Griid plans on having a breakeven. Bitcoin miner Griid Infrastructure is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving today's market and shaping tomorrow's economy. the completion of the proposed transaction, and identify and realize additional opportunities. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTechs trust account, after payment of Adit EdTechs transaction expenses and without giving effect to any redemptions by Adit EdTech public stockholders. otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Sign up for Valid Points, our weekly newsletter breaking down Ethereums evolution and its impact on crypto markets. Adit EdTech Acquisition Corp. Many factors could cause actual future events to differ materially from the forward-looking events or otherwise. Adit Ventures is an investment adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. The foregoing list of factors is not exhaustive. against Adit EdTech related to the merger agreement or the proposed transaction, (ix)the ability to maintain the listing of Adit EdTechs securities on a national securities exchange, (x)the price of Adit EdTechs securities, CoinDesk journalists are not allowed to purchase stock outright in DCG. We refer you to the Risk Factors and Managements Discussion and Analysis of performance fees or expenses, if applicable. News and analysis for the professional investor. Contact us. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. Track . Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. Everyday HIVE earns new crypto coins which it can monetize for revenue and cash flow. substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. These forward looking statements speak only as of the date of this press release. A profitable Bitcoin (CRYPTO: BTC) mining company is going public with a SPAC deal announced Tuesday morning. This communication may griid | 1,570 followers on linkedin. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving todays market and shaping tomorrows economy. For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. DAgostinoChief Financial Officerdagostino@aditedtech.com. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. Public ADEX shareholders will own 9% of the combined company. The company is projecting 2023 revenue of $1.6 billion. Description. All Rights Reserved. CINCINNATI and NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Griid Infrastructure LLC (together with GRIID Holdco (as defined below), GRIID or the Company), a vertically integrated, bitcoin self-mining company, and Adit EdTech Acquisition Corp. (Adit EdTech) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (Adit), announced today that they have entered into a definitive merger agreement under which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. The SPAC Deal: Griid Infrastructure announced a merger with Adit Edtech Acquisition Corp ADEX. GRIID supports the growth of carbon-free energy generation by procuring low-cost energy to build, manage, and operate its portfolio of vertically integrated bitcoin mining facilities. Adit EdTech intends to file a proxy statement with the SEC. This allows us to easily detect problematic rigs, and prevent overheating or hash rate drops, keeping maintenance costs to a minimum. Griid. special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. As a publicly traded company, HIVE provides shareholders with exposure to the margins of mining, together with the price performance ofa portfolio of crypto coins held and managed by HIVE. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia. TipRanks is a comprehensive research tool that helps investors make better, data-driven investment decisions. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Professional miner. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Companies provide cloud mining services to customers who lease mining capacity for a fixed period of time to mine their own coins. Adit EdTech is a publicly listed special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining facilities across the United States. filed with the SEC on April15, 2021. The transformation of value in the digital age. Bitcoin miner Griid Infrastructure is negotiating with blank-check firm Adit EdTech Acquisition Corp. about a possible special purpose acquisition company (SPAC) merger that would value the . Adit EdTech's strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. Information regarding Adit EdTech's directors and executive officers is available in Adit EdTech's Annual Report on Form 10-Kfor the year ended December 31, 2020 GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 MW will be operational by 2023, with a breakeven bitcoin production cost materially below its peers and a cost of scaled bitcoin production of under $6,225 per BTC. Griid Infrastructure LLC ("GRIID") is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW). the combined company is expected to operate under the name GRIID Adit EdTechs CFO, The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3 billion, assuming no redemptions of shares of Adit EdTech by its public stockholders and approximately $125 million of debt outstanding as of the closing (which debt is drawn down under GRIID's $525 million secured credit facility with Blockchain.com). HIVE is a relatively new public company that uses high powered computing assets to mine cryptocurrencies like Ethereum and Bitcoin on the cloud. 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