griid infrastructure investor presentation

A proxy statement will be sent to all Adit EdTech stockholders. 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. The original communications protocol for the Internet HTTP is still in use today notwithstanding the introduction of more efficient protocols. vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. This is significantly different from HIVE, which directly operates its facilities and is itself a business operator. The deal values Griid at an enterprise value of $3.3 billion. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant 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). release and investor presentation. After the merger, the new company will trade as GRIID Infrastructure Inc and the ticker GRDI on the NYSE. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. Blockchain technology is revolutionizing finance and there are very few ways for investors to gain exposure to businesses in this space. 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. These forward looking statements speak only as of the date of this press release. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. Adit EdTech Acquisition Corp. NEWS RELEASE Feb 21, 2023. . For these reasons, we expect proof-of-work mining and data centre infrastructure like HIVEs will always be an essential component of the blockchain and cryptocurrency ecosystem. Based on 508 Wall Street analysts offering 12 month price targets to DE:GRID holdings in the last 3 months. expressions. 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. 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 The company is projecting 2023 revenue of $1.6 billion. What financial advisors need to know about crypto. 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. offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The following communication was posted by David Shrier on LinkedIn: I am pleased to Adit EdTechs strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future and commercial due diligence. Benzinga does not provide investment advice. For full information, investors should refer to the risk disclosures filed under HIVEs most recent MD&A, which are filed under HIVEs SEDAR profile, and its September 2017 Filing Statement. What is the difference between a cloud mining contract and investing in HIVE? GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 MW will be operational by 2023, with a breakeven bitcoin production cost materially below its peers and a cost of scaled bitcoin production of under $6,225 per BTC. 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. 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. Through our affiliation with our sponsor and management team, we will seek to acquire established businesses that we believe are fundamentally sound but potentially in need of financial, operational, strategic, or managerial transformation to maximize value for stockholders. We refer you to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Adit EdTech's 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 SEC's website at www.sec.gov. The new miner is half the price of an Antminer S19 Pro, while being 15% more efficient, improving gross profits by 130%, Griid's presentation said. could give rise to the termination of the merger agreement, (vi)the effect of the announcement or pendency of the transaction on GRIIDs business relationships, operating results, and business generally and on Adit EdTechs stock 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 EdTechs stockholders. this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. What are the keys to successful crypto mining? Proof-of-stake is an alternative method of fulfilling the same function as proof-of-work mining the validation of cryptocurrency transactions by having parties deposit, or stake, amounts of cryptocurrency into a smart contract. 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 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 Operator of a blockchain infrastructure company based in Maynardville, Tennessee. transaction between Adit EdTech and GRIID. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no There are more than a million miners today from "Mom and Pop's" to Governments. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain Past: experienced fintech market leader, building optimization tools for hedge funds.<br><br>Now: Energy infrastructure. 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 uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. The chip is custom-built for this purpose only and has no flexibility to mine anything other than Bitcoin. financial advisor to Adit EdTech for capital markets and M&A advisory services. Additional Information and Where to Find It. 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 Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. other documents regarding the proposed transaction with the SEC. 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). the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. 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. Earth Grid Virtual Investor Presentation Wednesday March 8th at Noon. CEO and CIO of U.S. 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 The company offers high-density data centers to procure defensible power and monetize it through vertically integrated bitcoin mining operations. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. Sanders LLP acted as legal advisor to GRIID. GRIID's existing management team, led by President and CEO Trey Kelly, will continue to lead the business. 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. 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. For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. How Ethereum's evolution impacts crypto markets. performance fees or expenses, if applicable. Covington& Burling LLP acted as legal advisor to Adit EdTech. What is the difference between GPU-based and ASIC-based mining? of the proposed transaction. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Australias Central Bank Taps Mastercard and Others to Test CBDC Use Cases, Bitcoin, Ether Settle Into a Range as Indicators Point Neutral, Digital Asset Investment Products AUM in February Reaches Highest Level Since May 2022, Crypto Bank Charter Firm Protego Trust Lays Off Most of Its Workforce: Source. Adit EdTech intends to file a proxy statement 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. Wed, March 8, 2023, 12:00 . Nov 30 (Reuters) - Bitcoin miner Griid Infrastructure said on Tuesday it would go public by merging with blank-check firm Adit EdTech Acquisition Corp (ADEX.N) in a deal valuing the combined. Plus500. All rights reserved. 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. A profitable Bitcoin (CRYPTO: BTC) mining company is going public with a SPAC deal announced Tuesday morning. or intention and are generally accompanied by words that convey projected future events or outcomes such as believe, may, will, estimate, continue, anticipate, The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. All rights reserved. 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 the announcement or pendency of the transaction on GRIIDs business relationships, operating results, and business generally and on Adit EdTechs stock price, (vii)risks that the . It also maintains a portfolio of coins as inventory. The company uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. As of December 13, 2022. March 2021 Good Works . 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. This press release relates to a proposed transaction between Adit EdTech and GRIID. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of 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. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. A proxy statement will be sent to all Adit EdTech stockholders. 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. D'AgostinoChief Financial Officerdagostino@aditedtech.com. Professional miner. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining 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. Do Not Sell My Personal Data/Privacy Policy. 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. 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