{"id":33211,"date":"2024-06-27T19:23:20","date_gmt":"2024-06-27T19:23:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cleanspark-acquires-bitcoin-miner-griid-for-155-million\/"},"modified":"2024-06-27T19:23:20","modified_gmt":"2024-06-27T19:23:20","slug":"cleanspark-acquires-bitcoin-miner-griid-for-155-million","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cleanspark-acquires-bitcoin-miner-griid-for-155-million\/","title":{"rendered":"CleanSpark acquires Bitcoin miner GRIID for $155 million"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/cleanspark-acquires-bitcoin-miner-griid-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/cleanspark-acquires-bitcoin-miner-griid-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/cleanspark-acquires-bitcoin-miner-griid-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/06\/cleanspark-acquires-bitcoin-miner-griid-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">CleanSpark announced on June 27 that it had acquired GRIID Infrastructure, a US-based Bitcoin miner for $155 million.<\/span><\/li>\n<li>The company expects the all-stock deal to close in Q3, 2024 subject to GRIID shareholder approval and other customary requirements.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Bitcoin miner CleanSpark announced today that it has entered an agreement to acquire GRIID Infrastructure in an all-stock transaction valued at $155 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a <a href=\"https:\/\/investors.cleanspark.com\/news\/news-details\/2024\/CleanSpark-Announces-Agreement-to-Acquire-GRIID-Infrastructure-Based-on-an-enterprise-value-of-155-Million-and-Expansion-Plans-of-over-400-MW-in-Tennessee\/default.aspx\" target=\"_blank\" rel=\"noopener\">press release<\/a> the merger agreement also saw the two <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-mining\/\">Bitcoin mining<\/a> companies seal an exclusive hosting agreement for all of GRIID\u2019s currently available power. 20 MW of this power will immediately be allocated to CleanSpark.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe are looking forward to welcoming the GRIID team into the CleanSpark family and we are excited to apply the CleanSpark way, carefully honed alongside the communities we operate in Georgia and Mississippi, to GRIID\u2019s impressive pipeline in Tennessee,\u201d CleanSpark CEO Zach Bradford said in a statement.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">CleanSpark eyes 400 MW by 2026<\/span><\/h2>\n<p><span style=\"font-weight: 400\">CleanSpark, which has closed <a href=\"https:\/\/coinjournal.net\/news\/cleanspark-acquires-two-bitcoin-mining-facilities-for-9-3-million\/\">other deals before<\/a>, expects to build out its operations in Tennessee over the next three years. This should see the miner reach operational capacity it managed in Georgia over the same period.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThat achievement was to build out over 400 MW of infrastructure backed by valuable, long-term power contracts,\u201d Bradford noted.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The miner targets surpassing 100 MW in Tennessee by the end of this year, 200 MW in 2025 and over 400 MW in 2026.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Deal expected to close in Q3<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Per the announcement, CleanSpark\u2019s acquisition of GRIID has already received unanimous approval from the Boards of Directors of both companies. <\/span><\/p>\n<p><span style=\"font-weight: 400\">As such, they expect the deal will close in Q3, 2024. However, this is still subject to approval by GRIID shareholders as well as other customary closing conditions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">CleanSpark\u2019s acquisition of GRIID comes as another Bitcoin miner Riot Platforms\u2019 plans to take over Bitfarms hit a snag. In the latest development around the saga, Riot has<\/span><a href=\"https:\/\/www.reuters.com\/technology\/riot-platforms-withdraws-offer-rival-bitfarms-seeks-three-board-seats-2024-06-24\/\"> <span style=\"font-weight: 400\">reportedly<\/span><\/a><span style=\"font-weight: 400\"> decided to go for an overhaul of the Bitfarms\u2019 board by taking up three seats.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/cleanspark-acquires-bitcoin-miner-griid-for-155-million\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) CleanSpark announced on June 27 that it had acquired GRIID Infrastructure, a US-based Bitcoin miner for $155 million. The company expects the all-stock deal to close in Q3, 2024 subject to GRIID shareholder approval and other customary requirements. Bitcoin miner CleanSpark [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":33212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33211"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33211"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33212"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}