GRIID
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
GRIID Infrastructure, founded in 2018 in Cincinnati, Ohio by Trey Kelly, was a vertically integrated bitcoin self-mining company that owned and operated bitcoin mining facilities in New York and Tennessee. It focused on low-cost, carbon-free power partnerships, with 20,623 bitcoin mining machines installed and about 447 peta hashes per second of hash rate as of late 2023. The company secured a $525 million credit facility from Blockchain.com in 2021 and began trading on Nasdaq under GRDI in January 2024 after merging with SPAC Adit EdTech. In October 2024 CleanSpark completed its acquisition of GRIID, delisting it from Nasdaq.
02 / FAILURE REASONS
Material for this section is being gathered and checked. It will appear here once ready.
03 / EVENT HISTORY
Events in the structured record
- Founded
GRIID was founded in Cincinnati, Ohio as a vertically integrated bitcoin self-mining company and began operating mining facilities in 2019.
- Credit facility
GRIID secured a $525 million credit facility from Blockchain.com.
- Listed
GRIID merged with SPAC Adit EdTech and began trading on Nasdaq under the ticker GRDI.
- Acquired
CleanSpark completed its acquisition of GRIID on October 31, 2024; GRIID common stock and warrants were delisted from Nasdaq.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.