In Brief:
- GRIID gets a $525 Million credit from crypto exchange and wallet provider, Blockchain.com.
- The credit will help GRIID to add additional mining capacity.
Bitcoin Mining Infrastructure Firm, GRIID gets a $525 Million credit from crypto exchange and wallet provider, Blockchain.com, announced the firm on 22nd November.
GRIID will use the four-year term credit facility to help scale its capabilities, bring on additional mining capacities and also for building upon its 1,300 megawatts of available power from its current “existing energy generation partners,” the firm said.
Peter Smith, CEO of Blockchain.com commented “For the past two years, we’ve worked closely with GRIID to not just provide capital, but to be a partner invested in the growth of the business.”
GRIID procures low-cost, carbon-free energy for building, managing, and operating a growing portfolio of vertically-integrated bitcoin mining facilities.
Founded in 2011, UK- based Blockchain.com is one of the oldest cryptocurrency platforms with about 31 million verified users, over $1 trillion transactions and has generated more than $5 billion in loan originations.
Recently, Baillie Gifford had participated in its Series C funding round that raised $300M and had also invested $100M in it.
Also Read: Blockchain.com Reaches $14B Valuation in Funding Round Led by LightSpeed
