CleanSpark a Bitcoin mining company acquires GRIID in a 155M stock agreement

Bitcoin mining company CleanSpark Inc. has officially acquired GRIID Infrastructure Inc. in a stock deal valued at $155 million. The merger will enhance CleanSpark’s capabilities through an exclusive hosting agreement with GRIID. As part of the agreement, CleanSpark will immediately receive 20 megawatts of operational capacity. GRIID operates an R&D center in Texas and an equipment repair center in Tennessee. The deal is expected to close in the third quarter of 2024. CleanSpark has been actively acquiring mining facilities and expanding its infrastructure this year. The merger with GRIID will further scale its operations and improve efficiency in the competitive bitcoin mining industry.