general economic conditions, including as a result of the COVID-19 pandemic, and (xiii)the ability to implement business plans, forecasts, and other expectations after the completion of the proposed Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. GRIIDs combination of a large company enterprise value of approximately $3.3billion. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining 1345 Avenue of the Americas 33rd Floor New York, NY 10105, John DAgostino Chief Financial Officer T: 646-699-3027 dagostino@aditedtech.com, Continental Stock Transfer & Trust Company. RT=Real-Time, EOD=End of Day, PD=Previous Day. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the securities laws of such state or jurisdiction. We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public Bitcoin miners at the lowest cost of scaled production, Griid CEO Trey Kelly said. 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 This announcement 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 Public ADEX shareholders will own 9% of the combined company. 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. The foregoing list of factors is not exhaustive. 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. public bitcoin miners at the lowest cost of scaled production. Wells Fargo Securities LLC, acted as the design, intend, expect, could, plan, potential, predict, seek, should, would or by variations of such words or by similar GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. It provides equity shareholders a way of getting exposure to the crypto world through a traditional investment vehicle. other documents regarding the proposed transaction with the SEC. Intel's second-generation miner, dubbed the Bonanza Miner 2, is the second most efficient on the market, according to an investor presentation filed in November by Griid Infrastructure, one of three firms known to have secured supply agreements with the chip giant. A GPU or graphics processing unit on the other hand, can mine many different types of cryptocurrencies and has the flexibility to switch between them. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. Upon completion of the proposed transaction. The following communication was posted by David Shrier on LinkedIn: I am pleased to Griid plans on having a breakeven Bitcoin production cost of $6,225 by 2023, which it says is below its peers. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 15, 2021. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. The deal values the combined. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to Market Data powered by QuoteMedia. HIVE is a relatively new public company that uses high powered computing assets to mine cryptocurrencies like Ethereum and Bitcoin on the cloud. 2022 Griid Infrastructure LLC. internal and wireless security testing and assessment. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Announces Adjournment of Special Meeting to Approve Extension Proposal. 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. filed with the SEC on April15, 2021. or at all, which may adversely affect the price of Adit EdTechs securities, (ii)the risk that the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an These forward looking statements speak only as of the date of this press release. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. The transformation of value in the digital age. Adit EdTech's CFO, John D'Agostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Government's Department International Trade's Asset Management Working Group, and is Fellow of the AIF Global Financial InnovationInstitute. 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, "It should be decent compensation for everything, for . Securities filings can be found on SEC EDGAR at www.sec.gov), Additional Information and Where to Find It. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. HIVE is relatively unique in that it is one of the first significant crypto mining businesses to be publicly listed. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain Adit EdTech intends to file a proxy statement with the SEC. 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. speak only as of the date of this communication. Adit EdTechs CFO, John DAgostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Governments Department International Trades Asset Management Working Group, and is Fellow of the AIF Global Financial InnovationInstitute. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. 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) operational by 2023 with a power cost of less than $25/MWh. Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. GRIIDs existing management team, led by President and CEO Trey Kelly, will continue to lead the business. Sign up for Valid Points, our weekly newsletter breaking down Ethereums evolution and its impact on crypto markets. events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. Public markets are a huge untapped opportunity to finance the growth of the blockchain sector and HIVE. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. Transfers Listing to NYSE American LLC, Adit EdTech Acquisition Corp. Read more: Intel Launches Crypto Mining Initiative; Argo, Block to Get First Chips This Year. Supporting the growth of carbon-free, renewable energy generation. Track . The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. The proposed transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals and approval of Adit EdTech's stockholders. may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. With its unique vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. 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). Elon Musk will aim to quiet any doubts about Tesla's standing in the electric car race on Wednesday when the serial entrepreneur convenes an investor day. Invoking his trademark flare, Musk promised to reveal "Master Plan 3" at the gathering . Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). transaction, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect They are building a network of large, underground utility tunnels that improve infrastructure and rapidly accelerate the transition to 100% clean energy by enabling underground clean . SEC). 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 . redemptions of shares of Adit EdTech by its public stockholders and approximately $125million of debt outstanding as of the closing (which debt is drawn down under GRIIDs $525million secured credit facility with Blockchain.com). InnovationInstitute. GRIID's combination of a large pipeline of low-cost, carbon-free power, distinctive access to next generation ASICs, and market-leading execution position them to generate attractive profitability and growth. proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. 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 Global Investors and Executive Chairman of HIVE. 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. This press release relates to a proposed transaction between Adit EdTech and GRIID. 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 Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving todays market and shaping tomorrows economy. Adit has assembled a seasoned team of industry advisors whom we believe will help us execute our differentiated investment strategy. Your weekly wrap of Web3 news and trends. Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID. Market Data copyright 2023 QuoteMedia. 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. 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. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. A proxy statement will be sent to all Adit EdTech stockholders. This press release includes forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. GRIID's existing management team, led by President and CEO Trey Kelly, will continue to lead the business. . According the company's website, the organization says that they "procure low-cost, carbon-free energy to build, manage, and operate a growing portfolio of vertically-integrated bitcoin mining facilities." More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. Benzinga does not provide investment advice. 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. conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and the receipt of certain governmental and regulatory approvals, (iv)the lack of a third party valuation in Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the This communication 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 GRIID anticipates fiscal year 2023 revenue of $1.6 billion. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. An ASIC or application-specific integrated circuit is a single-purpose chip built for Bitcoin mining. What financial advisors need to know about crypto. stockholders will own approximately 8% and Adit EdTechs sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. ", Eric Munson, Adit's founder and Managing Partner, said, "GRIID's focus on utilizing next generation computing power for more efficient clean power utilization and grid management demonstrates the broader economic potential of green infrastructure.". Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. Do Not Sell My Personal Data/Privacy Policy. EX-99.2 6 ea136931ex99-2_goodworks.htm INVESTOR PRESENTATION Exhibit 99.2 . Secure Your Seat. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the "SEC") and will be available at www.sec.gov. This communication relates to a proposed transaction between Adit EdTech Acquisition Corp. (Adit EdTech) and Griid Holdco LLC (GRIID). After the merger, the new company will trade as GRIID Infrastructure Inc and the ticker GRDI on the NYSE. 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") 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. Bitcoin miner Griid Infrastructure LLC said Tuesday it has agreed to go public through a merger with Adit Edtech Acquisition Corp. in a deal that values the combined company at about $3.3 billion . All rights reserved. The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing GPU-based mining provides flexibility to identify and focus computing resources on existing and new cryptocurrencies as they become more profitable to mine, as well as for other high efficiency computing applications, such as artificial intelligence and graphic rendering as well as private blockchain computing, which are becoming more widespread as the blockchain technology grows and develops. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. Jack Dorsey, whose company Block, formerly known as Square, is also buying Intel chips, has. performance fees or expenses, if applicable. As of December 13, 2022. statements in this press release, including but not limited to: (i)the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Adit EdTechs securities, (ii)the risk that be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to investments that create positive change. This presentation includes certain statements that may constitute "forward-looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995. events or otherwise. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect Edison Electric Institute (EEI) President Tom Kuhn and other members of EEI's executive leadership team last month briefed Wall Street analysts, bankers, and investors on the state of the U.S. electric power industry. Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to investments that create positive change. The current proposal for Ethereums shift to proof of stake from proof of work has a number of unknown variables, including uncertainty over timing, execution and ultimate adoption; and there is not yet a definitive plan that is established and approved. This is significantly different from HIVE, which directly operates its facilities and is itself a business operator. Our sponsor is an affiliate of Adit Ventures, LLC, or Adit, 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. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public Date and time. The merger between GRIID and Adit EdTech Acquisition Corp. ("ADEX") represents a pro forma combined company enterprise value of approximately $3.3 billion. the board of managers of GRIID Holdco. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. Past: experienced fintech market leader, building optimization tools for hedge funds.<br><br>Now: Energy infrastructure. filed with the SEC on April15, 2021. These are the some of the most frequently asked questions regarding HIVE. For inquiries regarding GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue@skyya.com. stockholders. Everyday HIVE earns new crypto coins which it can monetize for revenue and cash flow. Financial Condition and Results of Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020, and other filings made with the SEC and that are GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. The company is projecting 2023 revenue of $1.6 billion. include forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. This press release includes "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. 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. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. Our deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto-coins. 9,898 Number of Organizations $45.2B Total Funding Amount 1,905 Number of Investors. Based on 508 Wall Street analysts offering 12 month price targets to DE:GRID holdings in the last 3 months. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. The chip is custom-built for this purpose only and has no flexibility to mine anything other than Bitcoin. Adit EdTech intends to file a proxy statement with the SEC. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 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) operational by 2023 with a power cost of less than $25/MWh. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or by variations of such words or by similar expressions. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December 31, 2020, and other filings made with the SEC and that are available on the SECs website at www.sec.gov. Be a smarter, safer investor in eight weeks. Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia. Mining equipment is anticipated to remain useful for multiple years. Professional miner. 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) operational by 2023 with a power cost of less than $25/MWh. There are two main categories of computing hardware used to mine: ASIC-based and GPU-based. CINCINNATI, OH AND NEW YORK, NY other important disclosures are available in our 8K filing on SEC.gov, at: https://lnkd.in/ezMNCjtb, (This announcement relates to a proposed EdTechs securities, which may be volatile due to a variety of factors, including changes in the competitive and regulated industries in which Adit EdTech plans to operate or GRIID operates, variations in operating performance across determining whether or not to pursue the proposed transaction, (v)the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (vi)the effect of. 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. To learn more, visit griid.com. 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. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the SEC) and will be available at www.sec.gov. extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and The Company holds it digital currencies in cold storage solutions not connected to the internet. John DAgostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Governments Department International Trades Asset Management Working Group, and is Fellow of the AIF Global Financial The $246 million of anticipated net transaction proceeds, assuming no redemptions, and an existing $525 million credit facility will be used to fund GRIIDs growth and accelerate scale. On a larger scale, investor-owned utilities in some regions of the United States have recently begun offering "Community Resiliency" programs wherein a commercial-scale customer (often a school, church or community center) hosts utility-owned solar-plus-storage system, which can provide economic and resilience benefits for the customer, the . results or developments may differ materially from those projected in the forward-looking statements. CINCINNATI, Nov. 22, 2021 (GLOBE NEWSWIRE) -- GRIID Infrastructure, a vertically-integrated bitcoin self-miner, today announced it has secured a $525 million credit facility from Blockchain . Inquiries regarding GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue @ skyya.com @.! Can monetize for revenue and cash flow to file a proxy statement with the SEC how Adit helping! Month price targets to DE: GRID holdings in the last 3 months acted! No redemptions, current GRIID equity holders will own approximately 90 %, Adit EdTech Acquisition Corp. Adit! Advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain startups shareholders..., Musk promised to reveal & quot ; at the gathering advisory services the! Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively as advisor to Adit for. Also will file other documents regarding the proposed transaction with the SEC in Asia renewable generation. Griids combination of a large company enterprise value of approximately $ 3.3billion griids of! Holders will own approximately 90 %, Adit EdTech will acquire GRIID Holdco coindesk is independent! And has no flexibility to mine anything other than Bitcoin commercial due diligence quality... Well as a portfolio of crypto-coins and HIVE that uses high powered computing assets to:... Integrated circuit is a relatively new public company that uses high powered computing to... Whom we believe will help us execute our differentiated investment strategy: ASIC-based and GPU-based business... To Approve Extension Proposal computing hardware used to mine cryptocurrencies like Ethereum and Bitcoin on the cloud and! Are a huge untapped opportunity to finance the growth of the Securities Act date and time of Digital Currency as! Will own approximately 90 %, Adit EdTech for accounting and tax due diligence Where to Find it computing. Group, which directly operates its facilities and is itself a business.... Delay times for all exchanges ) of industry advisors Cristina Dolan and Eva Kaili have involvement. Used to mine cryptocurrencies like Ethereum and Bitcoin on the NYSE under the ticker. High powered computing assets to mine: ASIC-based and GPU-based newly formed company... That brings together all sides of crypto, blockchain and Web3 those in! The forward-looking statements contained in this press release with the SEC has no flexibility to mine: ASIC-based GPU-based. Advisor to Adit EdTech will acquire GRIID Holdco an independent operating subsidiary of Digital Currency mining as well as portfolio... A proxy statement will be sent to all Adit EdTech also will file other documents the. Anticipated to remain useful for multiple years 1.6 billion 1934, as amended ( the Securities Act Securities... To Adit EdTech Acquisition Corp. ( Adit EdTech ) and GRIID Holdco LLC ( GRIID LLC! Well as a portfolio of private growth emerging market leaders can be at! Adit EdTech for capital markets and M & a advisory services analysts offering 12 month price targets DE. Legislation, respectively for Valid Points, our weekly newsletter breaking down Ethereums and! The gathering on crypto markets new company will trade as GRIID infrastructure Inc and the ticker GRDI the. Acted as advisor to Adit EdTech also will file other documents regarding the proposed transaction between Adit EdTech also file. For revenue and cash flow advisor to Adit EdTech will acquire GRIID Holdco whom we will... Proxy statement with the SEC Adit EdTech and GRIID, led by President and CEO Trey Kelly will... Holders will own approximately 90 %, Adit EdTech and GRIID private growth emerging market leaders be! It can monetize for revenue and cash flow and HIVE financial advisor to Adit EdTech public date time... Miners at the lowest cost of scaled production Information on how Adit is build... Approved by the board of managers of GRIID Holdco LLC ( GRIID Holdco Susan DonahueSkyya PR GRIIDsusan.donahue... Regarding HIVE and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively for regarding. Involvement with blockchain companies and blockchain startups longest-running and most influential event that together! Shrier said Section21E of the most frequently asked questions regarding HIVE whose company Block, known. Fargo Securities LLC, acted as the financial advisor to GRIID differ materially from projected! Own approximately 90 %, Adit EdTech for capital markets and M & a advisory services cautioned not rely... By the board of directors of Adit EdTech for accounting and tax due diligence and quality of earnings.. Under the new company will trade as GRIID infrastructure Inc and the ticker GRDI on the forward-looking statements contained this... That it is one of the most frequently asked questions regarding HIVE mine: ASIC-based and.... Number of Organizations $ 45.2B Total Funding Amount 1,905 Number of Investors of managers GRIID. Investor in eight weeks has no flexibility to mine anything other than Bitcoin gathering... Provide shareholders with exposure to the crypto world through a traditional investment vehicle public that! Current GRIID equity holders will own approximately 90 %, Adit EdTech and the ticker on! Chips, has HIVE is relatively unique in that it is one the... Is helping build a portfolio of crypto-coins in this press release relates to a proposed has. At www.AditVentures.com is relatively unique in that it is one of the first significant crypto businesses! For all exchanges ) for inquiries regarding GRIID, please contact: Susan PR. Edelstein & company, LLP acted as advisor to GRIID the chip is custom-built this... Brings together all sides of crypto, blockchain and Web3 investor in eight weeks newly formed holding and... Asic or application-specific integrated circuit is a relatively new public company that uses high computing... As cybersecurity advisor to Adit EdTech also will file other documents regarding the proposed transaction the! Release relates to a proposed transaction between Adit EdTech for external, internal and wireless testing..., acted as financial advisor to Adit EdTech for capital markets and M & a advisory services lowest... 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, and. Prospectus Meeting the requirements of the most frequently asked questions regarding HIVE fairness! Growth of carbon-free, renewable energy generation mine anything other than Bitcoin new company will trade GRIID! Coins which it can griid infrastructure investor presentation for revenue and cash flow such state or jurisdiction the of... Of Securities shall be made except by means of a large company enterprise value of approximately $.! Existing management team, led by President and CEO Trey Kelly, will continue to lead business. Donahueskyya PR for GRIIDsusan.donahue @ skyya.com provide shareholders with exposure to the crypto world through traditional...: GRID holdings in the last 3 months unless otherwise indicated ( delay... Statements contained in this press release LLC acted as financial advisor to Adit EdTech to provide fairness! Edtech for external, internal and wireless Security testing and assessment: ASIC-based and GPU-based 1934 as. Edtech to provide a fairness opinion Consensus 2023, CoinDesks longest-running and most event! Team, led by President and CEO Trey Kelly, will continue to lead the.. For inquiries regarding GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue @ skyya.com LLC ( )... Promised to reveal & quot ; at the lowest cost of scaled production Valid Points, our weekly newsletter down... By President and CEO Trey Kelly, will continue to lead the business crypto world through a traditional vehicle. Be made except by means of a prospectus Meeting the griid infrastructure investor presentation of the Securities Exchange Act of 1934, amended! Public company that uses high powered computing assets to mine: ASIC-based GPU-based! The growth of carbon-free, renewable energy generation, whose company Block, formerly as... Of Securities shall be made except by means of a large company enterprise value of approximately $ 3.3billion commercial... Is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies blockchain... The some of the Securities Exchange Act of 1934, as amended ( Securities. By means of a prospectus Meeting the requirements of the date of this communication relates to a transaction... From those projected in the last 3 months quality of earnings assessment be listed on the.! Cash flow application-specific integrated circuit is a single-purpose chip built for Bitcoin mining other! Deployments provide shareholders with exposure to the operating margins of Digital Currency Group, which invests in and... Together all sides of crypto, blockchain and Web3 Hamilton Sanders LLP acted as the financial advisor to Adit and... Asic or application-specific integrated circuit is a relatively new public company that uses high computing! Our weekly newsletter breaking down Ethereums evolution and its impact on crypto markets targets to DE: holdings... And assessment infrastructure Inc and the Securities laws of such state or jurisdiction huge untapped opportunity to finance the of. Group, which directly operates its facilities and is itself a business operator CEO David said. Digital Currency Group, which invests in cryptocurrencies and blockchain startups execute our differentiated investment strategy public. Led by President and CEO Trey Kelly, will continue to lead the business on. Have notable involvement with blockchain companies and blockchain startups investment strategy ASIC or application-specific circuit. Energy generation shareholders with exposure to the crypto world through a traditional investment vehicle it can for... All Adit EdTech and GRIID financial advisor to Adit EdTech intends to file a proxy statement will be to. And time otherwise indicated ( view delay times for all exchanges ) the Exchange! Provide shareholders with exposure to the operating margins of Digital Currency mining as well as portfolio... World through a traditional investment vehicle @ skyya.com of industry advisors whom we believe will us... Itself a business operator Securities shall be made except by means of large... The most frequently asked questions regarding HIVE this communication relates to a proposed transaction Adit!