How GRIID's Nasdaq Listing Could Boost Bitcoin Mining Industry

GRIID Infrastructure, a Cincinnati-based company that specializes in bitcoin mining, has recently made its debut on the Nasdaq Global Market under the ticker symbol "GRDI". This is a significant achievement for the company, which has been operating since 2018 and has four mining facilities across the US.

GRIID's Nasdaq listing comes after its successful merger with a special purpose acquisition company (SPAC) Adit EdTech Acquisition Corp, which was announced in November 2021 and completed on January 2, 2024. On the same day, GRIID also started trading on the Cboe Canada exchange under the same ticker.

According to GRIID's CEO, Trey Kelly, the Nasdaq listing will enhance the company's visibility, liquidity and investor base, as well as align with its commitment to delivering shareholder value. Kelly also said that the company is focused on growing its capacity and increasing its hash rate, which is currently at 447 peta hashes per second (PH/s).

GRIID is one of the few bitcoin mining companies that have gone public in the US market, joining the likes of Riot Platforms and Marathon Digital, which are also trading on Nasdaq. However, GRIID stands out for its emphasis on obtaining low-cost, reliable and green electricity for its mining operations. The company claims that about 67% of its facilities are powered by carbon-free energy sources.

GRIID's Nasdaq listing could have a positive impact on the bitcoin mining industry, which is facing increasing competition and challenges ahead of the bitcoin halving event in April 2024. The halving will reduce the mining rewards by half, making it more difficult for miners to stay profitable. By going public, GRIID could attract more capital and resources to expand and upgrade its mining fleet, as well as demonstrate its transparency and accountability to regulators and investors.

GRIID's Nasdaq listing could also inspire more bitcoin mining companies to follow suit and seek public exposure in the US market, which could boost the industry's reputation and legitimacy. Moreover, GRIID's focus on sustainability could set a new standard for the industry, which has often been criticized for its high environmental impact.

Sources:

- [Bitcoin Miner GRIID Shares Extend Drop After Nasdaq Listing](https://www.msn.com/en-us/money/other/bitcoin-miner-griid-shares-extend-drop-after-nasdaq-listing/ar-BB1hv9U8)

- [Bitcoin Miner GRIID Lists On Nasdaq, Stock Drops 54% In 2 Days](https://www.msn.com/en-us/money/markets/bitcoin-miner-griid-lists-on-nasdaq-stock-drops-54-in-2-days/ar-BB1huVls)

- [Bitcoin Miner GRIID Goes Public with Nasdaq Listing](https://www.coinspeaker.com/bitcoin-griid-public-nasdaq/)