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$3.3B Bitcoin mining company Griid to list on NYSE via SPAC deal -Breaking


© Reuters.

On Tuesday, the United States Securities and Exchange Commission filed this information. Company for special purposes acquisitionsSPAC (Security Platform Adit EdTech Acquisition Corp.) AnnoucedThe company would merge with Cincinnati’s (BTCGriid is a smelter that mines coal at an enterprise value of $3.3 billion. Blank check companies are created to acquire other businesses. Griid, the ticker symbol GRDI will be listed on the New York Stock Exchange after the transaction is completed. It is anticipated that the deal will close in the first quarter next year.

Accordingto the investor presentation Griid anticipates that it will mine 637 BTC in the coming yearThe total hashrate is 187 petahash per seconds (PH/s) higher than all other miners. It projects that it will mine 24348 BTC each year by 2024. The total hashrate of the company is more than 26,180 PHP/s. The total Bitcoin network hash rate as of Tu was approximately 156,000 PHP/s.