Bitcoin mining firm GRIID began trading on the Nasdaq stock exchange today under the ticker symbol “GRDI.”
“Today marks a significant milestone for GRIID as we begin to trade in the U.S. market,” GRIID CEO Trey Kelly said in a statement. “We believe that our listing on Nasdaq will enhance our visibility, liquidity, and broaden our investor base as we continue to strengthen our market position and reinforce our commitment to delivering shareholder value.”
The listing follows GRIID’s merger with special purpose acquisition company Adit EdTech Acquisition Corp. on Jan. 2, over two years since the initial proposal.
GRIID was listed on Cboe Canada upon completion of the merger and will continue to trade on the Canadian exchange under the same ticker.
SPAC deal
In a SPAC deal, an acquiring company — formed with the purpose of acquiring a private firm — brings a private firm public.
Headquartered in Cincinnati, GRIID has operated bitcoin mining facilities since 2019, focused on securing affordable, reliable and environmentally responsible power. The company currently operates four U.S. mining facilities in Watertown, New York and Limestone, Maynardville and Lenoir City, Tennessee.
GRIID joins other bitcoin mining companies, such as Riot Platforms and Marathon Digital, to be listed on the Nasdaq.
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