On January 29, GRIID, an American mining company, became publicly traded on Nasdaq through a reverse merger with a SPAC.
According to a press release, the company’s shares under the ticker GRDI were made available for trading. It was announced in December 2021 that the company had entered a definitive agreement with Adit EdTech Acquisition Corp.
The merger was completed on January 2, 2024, and shares of the combined company began trading on the CBOE Canada exchange.
CEO Trey Kelly stated that the decision to list on Nasdaq was to increase visibility, liquidity, and attract a wider range of investors, strengthening their position in the market. As of writing, the stock price remains above $7.
GRIID, founded in 2019, currently operates four Bitcoin mining facilities in Watertown (New York), Limestone, Maynardville, and Lenoir City (Tennessee). In April 2023, Bitdeer also became listed on Nasdaq through a reverse merger with a SPAC.
