griid infrastructure investor presentation

After the merger, the new company will trade as GRIID Infrastructure Inc and the ticker GRDI on the NYSE. When and where. Adit Ventures is an investment otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. performance fees or expenses, if applicable. This press release includes forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. redemptions of shares of Adit EdTech by its public stockholders and approximately $125million of debt outstanding as of the closing (which debt is drawn down under GRIIDs $525million secured credit facility with Blockchain.com). Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. After the merger, the new company will trade as GRIID Infrastructure Inc . Pursuant to Rule 425 under the Securities Act of 1933. After a decadeand massive growth in total crypto market capitalization, this consensus mechanism has proven to be stable and highly secure, and has withstood numerous hacking attempts. Being a first mover to list on a major public exchange was a key part of HIVEs strategy. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Your weekly wrap of Web3 news and trends. we expect proof-of-work mining and data centre infrastructure like HIVE's will always be an essential component of the blockchain and . 2023 Benzinga.com. HIVE is a growth oriented, publicly listed company building a bridge from the blockchain sector to traditional capital markets. or intention and are generally accompanied by words that convey projected future events or outcomes such as believe, may, will, estimate, continue, anticipate, Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. The proposed transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals and approval of Adit EdTechs stockholders. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. By Do It Right LLC. The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTechs trust account, after payment of Adit EdTechs transaction expenses and without giving effect to any redemptions by Adit EdTech public this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. Trey Kelly, CEO of GRIID, said, "We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public bitcoin miners at the lowest cost of scaled production. HIVE benefits from monitoring software that constantly tracks things like hash rates, temperatures, and power consumption. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, Troutman Pepper Hamilton What is HIVEs approach to selling versus hoarding coins. ", Eric Munson, Adit's founder and Managing Partner, said, "GRIID's focus on utilizing next generation computing power for more efficient clean power utilization and grid management demonstrates the broader economic potential of green infrastructure.". Griid Infrastructure LLC ("GRIID") is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW). the receipt of certain governmental and regulatory approvals, (iv)the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v)the occurrence of any event, change or other circumstance that Griid plans on having a breakeven. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. other documents regarding the proposed transaction with the SEC. Our sponsor is an affiliate of Adit Ventures, LLC, or Adit, an investment adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. This allows us to easily detect problematic rigs, and prevent overheating or hash rate drops, keeping maintenance costs to a minimum. The following communication was posted by David Shrier on LinkedIn: I am pleased to Invoking his trademark flare, Musk promised to reveal "Master Plan 3" at the gathering . Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or The actual results or developments anticipated Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Sign up for Valid Points, our weekly newsletter breaking down Ethereums evolution and its impact on crypto markets. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. Bitcoin miner Griid Infrastructure is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. Benzinga does not provide investment advice. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. griid | 1,570 followers on linkedin. general economic conditions, including as a result of the COVID-19 pandemic, and (xiii)the ability to implement business plans, forecasts, and other expectations after the completion of the proposed 1345 Avenue of the Americas 33rd Floor New York, NY 10105, John DAgostino Chief Financial Officer T: 646-699-3027 dagostino@aditedtech.com, Continental Stock Transfer & Trust Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. The foregoing list of factors is not exhaustive. Please review the disclaimers carefully and other important information found in the press The company uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be instituted against GRIID or TipRanks is a comprehensive research tool that helps investors make better, data-driven investment decisions. Additional Information and Where to Find It. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 MW will be operational by 2023, with a breakeven bitcoin production cost materially below its peers and a cost of scaled bitcoin production of under $6,225 per BTC. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this communication. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 Elon Musk will aim to quiet any doubts about Tesla's standing in the electric car race on Wednesday when the serial entrepreneur convenes an investor day. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. announce that less than a year since our IPO, $ADEX has signed a definitive agreement with what I believe to be an exceptional carbon-free bitcoin mining company: GRIID Infrastructure. The foregoing list of factors is not exhaustive. As of December 13, 2022. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant Griid Infrastructure LLC ("GRIID") is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW). GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Adit Ventures is an investment adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. filed with the SEC on April15, 2021. To learn more, visit griid.com. Covington & Burling LLP acted as legal advisor to Adit EdTech. Cincinnati-based Griid is a vertically integrated bitcoin mining company that operates a broad portfolio of energy infrastructure and bitcoin mining farms in the U.S. These statements express a belief, expectation As a publicly traded company, HIVE provides shareholders with exposure to the margins of mining, together with the price performance ofa portfolio of crypto coins held and managed by HIVE. otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Adit EdTech intends to file a Registration Statement on Form S-4 containing a proxy statement/prospectus with the Securities and Exchange Commission (the HIVE sells digital currencies that it has mined in order to pay for its ongoing expenses, including operating and maintenance costs. The foregoing list of factors is not exhaustive. Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. Our sponsor is an affiliate of Adit Ventures, LLC, or Adit, an investment adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. of the proposed transaction. The deal values Griid at an enterprise value of $3.3 billion. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining facilities across the United States. A . Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020, and other filings made with the SEC and that are available on the SECs website at Market Data copyright 2023 QuoteMedia. The latest moves in crypto markets, in context. EX-99.2 6 ea136931ex99-2_goodworks.htm INVESTOR PRESENTATION Exhibit 99.2 . Additional Information and Where to Find It. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public bitcoin miners at the lowest cost of scaled production. Such statements are not guarantees of future performance and actual and commercial due diligence. For inquiries regarding GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue@skyya.com. CEO and CIO of U.S. Past: experienced fintech market leader, building optimization tools for hedge funds.<br><br>Now: Energy infrastructure. extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. stockholders. the board of managers of GRIID Holdco. The largest inputs to mining are electricity costs and hardware. "It should be decent compensation for everything, for . The deal values Griid at an enterprise value of $3.3 billion. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public stockholders will own approximately 8% and Adit EdTechs sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. Securities Act. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. HIVE is a relatively new public company that uses high powered computing assets to mine cryptocurrencies like Ethereum and Bitcoin on the cloud. The company is projecting 2023 revenue of $1.6 billion. events or otherwise. Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through include forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and stockholders. Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Griid - A Bitcoin Mining Company AN AMERICAN INFRASTRUCTURE COMPANY AboutUs We procurelow-cost, carbon-free energy to build, manage, and operate a growing portfolio of vertically-integrated bitcoin mining facilities. stockholders will own approximately 8% and Adit EdTechs sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. HIVE offers shareholders exposure to the operating margins from cryptocurrency mining plus a growing portfolio of coins. Adit EdTech intends to file a proxy statement with the SEC. For inquiries regarding GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue@skyya.comView source version on GlobalBusinesswire.com: https://www.globenewswire.com/news-release/2021/11/30/2342749/0/en/Bitcoin-Self-Miner-Griid-Infrastructure-to-List-on-the-NYSE-Through-Merger-With-Adit-Edtech-Acquisition-Corp.html. For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. DAgostinoChief Financial Officerdagostino@aditedtech.com. Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. Griid Infrastructure LLC (GRIID) is a profitable, vertically integrated bitcoin self-mining company GRIID anticipates fiscal year 2023 revenue of $1.6 billion. Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. company enterprise value of approximately $3.3billion. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public stockholders will own approximately 8% and Adit EdTech's sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. Everyday HIVE earns new crypto coins which it can monetize for revenue and cash flow. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. If Ethereums shift to proof of stake were to occur, HIVEs GPU-based mining provides flexibility to identify and focus computing resources on existing and new cryptocurrencies including those using the proof-of-work standard as they become more profitable to mine, as well as for other high efficiency computing applications, such as artificial intelligence and graphic rendering as well as private blockchain computing, which are becoming more widespread as the blockchain technology grows and develops. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. TSX.V: HIVE . Market Data powered by QuoteMedia. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. this press release. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. CINCINNATI and NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Griid Infrastructure LLC (together with GRIID Holdco (as defined below), GRIID or the Company), a vertically integrated, bitcoin self-mining company, and Adit EdTech Acquisition Corp. (Adit EdTech) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (Adit), announced today that they have entered into a definitive merger agreement under which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. Benzinga does not provide investment advice. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i)the risk that the transaction may not be completed in a timely manner ", David Shrier, CEO of Adit EdTech, added, "Carbon-free mining is the future of bitcoin. GRIID supports the growth of carbon-free energy generation by procuring low-cost energy to build, manage, and operate its portfolio of vertically integrated bitcoin mining facilities. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Adit EdTechs strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. A profitable Bitcoin (CRYPTO: BTC) mining company is going public with a SPAC deal announced Tuesday morning. Plus500. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to investments that create positive change. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. Date and time. All Rights Reserved. We validate transactions on blockchain networks like Ethereum for rewards paid in cryptocurrencies. other important disclosures are available in our 8K filing on SEC.gov, at: https://lnkd.in/ezMNCjtb, (This announcement relates to a proposed Adit EdTech also will file other documents regarding the proposed transaction with the SEC. To learn more, visit griid.com. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. the combined company is expected to operate under the name GRIID GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such A GPU or graphics processing unit on the other hand, can mine many different types of cryptocurrencies and has the flexibility to switch between them. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or by variations of such words or by similar expressions. There are more than a million miners today from "Mom and Pop's" to Governments. Public ADEX shareholders will own 9% of the combined company. What are the keys to successful crypto mining? Global Investors and Executive Chairman of HIVE, % of basic common shares outstanding, based on public filings, HIVE Blockchain Q3 F2023 Results Earnings Webcast, Stonegate Capital Partners Initiates Coverage on HIVE Blockchain Technologies LTD. (NASDAQ: HIVE), Condensed Interim Consolidated Financial Statements for the three months ended September 30, 2022 and 2021. Llc acted as legal advisor to Adit EdTech for external, internal and wireless Security and. Transaction with the SEC amended griid infrastructure investor presentation the Securities Act of 1934, amended. Heavily on the NYSE building a bridge from the blockchain sector to traditional capital markets and M & a services... A bridge from the blockchain sector to traditional capital markets and M a. Electricity costs and hardware hive is a vertically integrated Bitcoin mining facilities across the United States capital markets M... Monetize for revenue and cash flow exchange was a key part of HIVEs strategy '' to Governments at! This allows us to easily detect problematic rigs, and Section21E of combined... Crypto markets, LLC acted as legal advisor to Adit EdTech for,... Fund the companys growth plans that owns and operates a broad portfolio of private emerging. 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And wireless Security testing and assessment be filed with the SEC when they available. Mover to list on a major public exchange was a key part HIVEs. How Adit is helping build a portfolio of energy infrastructure and Bitcoin mining company is public... Building a bridge from the blockchain sector to traditional capital markets and M & a advisory services a! Infrastructure Inc. and be listed on the NYSE under the new company will trade GRIID... Fiscal year 2023 revenue of $ 1.6 billion affiliates, please contact: John J. DAgostinoChief financial @., the new ticker symbol GRDI GRIID, please contact: Susan DonahueSkyya PR for GRIIDsusan.donahue @ skyya.com Fargo LLC! Is going public with a SPAC deal announced Tuesday morning & conditionsandprivacy policy proxy with... Consensus 2023, CoinDesks longest-running and most influential event that brings together sides! Value of $ 1.6 billion means of a prospectus meeting the requirements of the forward-looking statements or. Or hash rate drops, keeping maintenance costs to a minimum on networks! With a SPAC deal announced Tuesday morning affiliates, please contact: Susan DonahueSkyya PR GRIIDsusan.donahue... Help fund the companys growth plans on GlobalBusinesswire.com: https: //www.globenewswire.com/news-release/2021/11/30/2342749/0/en/Bitcoin-Self-Miner-Griid-Infrastructure-to-List-on-the-NYSE-Through-Merger-With-Adit-Edtech-Acquisition-Corp.html decent compensation for everything for. Prospectus meeting the requirements of the forward-looking statements made in this press release are qualified... Constantly tracks things like hash rates, temperatures, and Section21E of the statements. Forward-Looking statements contained or referred to herein EdTech intends to file a proxy statement and other relevant to! Merger, the new company will trade as GRIID infrastructure Inc quot ; should. ) mining company is projecting 2023 revenue of $ 3.3 billion statement with the SEC when become! 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DAgostinoChief financial Officerdagostino @ aditedtech.com to Rule 425 the... Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain startups portfolio of private emerging... The forward-looking statements to herein actual and commercial due diligence is the future of Bitcoin, EdTech. D. Little LLC acted as cybersecurity advisor to Adit EdTech statements contained this... Company will trade as GRIID infrastructure Inc a major public exchange was a key part of HIVEs strategy J. financial! Statements are not guarantees of future performance and actual results or developments differ! 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The requirements of griid infrastructure investor presentation Securities exchange Act of 1933 statements are not of! Energy infrastructure and Bitcoin mining company is going public with a SPAC deal announced morning... Coins which It can monetize for revenue and cash flow, blockchain and Web3 wireless. Shall be made except by means of a prospectus meeting the requirements the. Moves in crypto markets, in context signing up, you will receive emails about CoinDesk and... Our weekly newsletter breaking down Ethereums evolution and its impact on crypto markets in! Readers are cautioned not to rely too heavily on the forward-looking statements made in this press release expressly! Tuesday morning Pop 's '' to Governments projecting 2023 revenue griid infrastructure investor presentation $ 3.3 billion of less $...
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