Bitcoin miner GRIID has begun trading on the Nasdaq Global Select market subsequent to the completion of its SPAC merger.
GRIID, a Bitcoin miner headquartered in the United States, has recommenced trading on the Nasdaq stock exchange.
GRIID Bitcoin Miner Appears on Nasdaq
Before this, GRIID was acknowledged for operating Bitcoin mining facilities that were vertically integrated and utilized low-cost, low-carbon energy. Although it was founded in 2018, it commenced functioning as a Bitcoin mining facility in 2019. Over the years, the Bitcoin miner GRIID has earned a reputation for its enduring power connections.
A considerable proportion of these relationships pertain to the acquisition of cost-effective, dependable, and ecologically conscious electricity, which ultimately facilitates the development of a self-mining vertically integrated business model characterized by substantial prospects for expansion. The organization has recently announced that it has begun trading its common stock and warrants on the Nasdaq Global Market.
In particular, the warrants issued by the company will be denoted by the ticker symbol “GRDIW,” whereas the common stock of GRIID will be traded under the symbol “GRDI.” The common stock will continue to be traded under the same ticker on Cboe Canada, formerly referred to as the NEO Exchange, as it did previously.
Trey Kelly, the Chief Executive Officer of GRIID, considers this advancement, which signifies the company’s entry into the United States market, momentous. The individual is confident that the Nasdaq listing will have a positive effect on the visibility and liquidity of GRIID within a few months. Additionally, Kelly is certain that the listing would significantly contribute to expanding its investor base.
GRIID And its SPAC Merger
It is noteworthy that this occurs in the midst of the Bitcoin miners’ endeavor to fortify their market standing and reaffirm their dedication to providing value to their shareholders.
The Bitcoin miner GRIID listing was facilitated by the effective merger with Adit EdTech Acquisition Corp, a special-purpose acquisition company. A SPAC transaction entails establishing an acquiring company to procure a private firm and subsequently go public with the private firm.
The acquisition was accomplished effectively on January 2, two years after the initial proposal was announced. Following this SPAC merger, Cboe Canada began listing the common stock. Another Bitcoin miner, Core Scientific, is making similar preparations to re-enter the Nasdaq stock exchange.
The acquisition brings GRIID, fond of public listing among Bitcoin miners such as Marathon Digital and Coinbase Global, closer to the increasing number of publicly traded companies contributing to the cryptocurrency ecosystem.
