GRIID Infrastructure, an Ohio-based vertically integrated bitcoin self-mining company, announced November 30 that it is merging with Adit EdTech Acquisition Corporation (NYSE ticker: ADEX). The merger will value the new company at $3.3 billion. In addition, Adit EdTech will pay Griid $246 million in cash and fund GRIID’s growth, including an existing $525 million credit facility.
GRIID is American-owned and operates bitcoin mining facilities with carbon-free power across the United States. GRIID will go public on the NYSE under the new ticker symbol “GRDI”.