Bitcoin Miner CleanSpark to Buy Peer GRIID in $155M Deal

Coindesk06-27

CleanSpark will buy GRIID Infrastructure in an all-stock deal with total enterprise value of $155 million.GRIID shares tumbled more than 50% on the news, while CLSK rose nearly 4%.The deal has been ...

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Recently, Riot Platforms (RIOT) and Bitfarms (BITF) have been battling it out in a hostile takeover attempt, while Core Scientific (CORZ) is also in play to be acquired by a cloud computing company.This deal is expected to close in the third quarter, and CleanSpark anticipates exceeding 100MW capacity in Tennessee by year-end and eventually grow that to 200MW next year and more than 400MW in 2026, according to the statement.The companies have also entered in to a hosting agreement where 20 megawatt (MW) worth of power capacity will be allocated to CleanSpark.GRIID was founded in 2018 and listed on the Nasdaq earlier this year after several delays due to the brutal crypto winter. The miner currently has mining facilities in Watertown, New York; Limestone, Maynardville and Lenoir City, Tennessee.Read more: Bitcoin Mining Sector Is Attracting Growing Investor Interest Following Core Scientific Deal: JPMorganEdited by Stephen Alpher.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446562535"}