Today, GRIID, a bitcoin mining company, started trading on the Nasdaq stock exchange with the ticker “GRDI.”
GRIID CEO Trey Kelly said in a statement, “Today marks a significant milestone for GRIID as we begin to trade in the U.S. market.”
He added, “ We believe that our listing on Nasdaq will enhance our visibility, and liquidity, and broaden our investor base as we continue to strengthen our market position and reinforce our commitment to delivering shareholder value.”
The listing comes after GRIID and Adit EdTech Acquisition Corp., a special purpose acquisition company, merged on January 2, more than two years after the original proposal.
Following the merger, GRIID was listed on Cboe Canada and will remain listed under the same ticker on the Canadian exchange. In a SPAC deal, a private company is brought public by an acquiring company that was established specifically to acquire the private company.
GRIID, which has its headquarters in Cincinnati, has been running bitcoin mining operations since 2019 with an emphasis on obtaining reasonably priced, dependable, and ecologically friendly electricity.
At the moment, the corporation runs four mining operations in the United States: Limestone, Maynardville, Lenoir City, and Watertown, New York. GRIID is the latest bitcoin mining firm to IPO on the Nasdaq, following in the footsteps of Riot Platforms and Marathon Digital.
Also Read: Nasdaq and Cboe Seek SEC Approval for Bitcoin ETF Trading
