griid infrastructure investor presentation

For these reasons, we expect proof-of-work mining and data centre infrastructure like HIVEs will always be an essential component of the blockchain and cryptocurrency ecosystem. On a larger scale, investor-owned utilities in some regions of the United States have recently begun offering "Community Resiliency" programs wherein a commercial-scale customer (often a school, church or community center) hosts utility-owned solar-plus-storage system, which can provide economic and resilience benefits for the customer, the . D'AgostinoChief Financial Officerdagostino@aditedtech.com. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving todays market and shaping tomorrows economy. The actual results or developments anticipated 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. 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. Everyday HIVE earns new crypto coins which it can monetize for revenue and cash flow. We validate transactions on blockchain networks like Ethereum for rewards paid in cryptocurrencies. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain This is significantly different from HIVE, which directly operates its facilities and is itself a business operator. These forward looking statements speak only as of the date of this press release. Being a first mover to list on a major public exchange was a key part of HIVEs strategy. Adit EdTech intends to file a Registration Statement on Form S-4 containing a proxy statement/prospectus with the Securities and Exchange Commission (the The capital markets have very few options for investors to participate in the blockchain sector, and HIVE provides a unique opportunity to do so. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. 2022 Griid Infrastructure LLC. Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID. prior to registration or qualification under the securities laws of such state or jurisdiction. 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's existing management team, led by President and CEO Trey Kelly, will continue to lead the business. EdTechs securities, which may be volatile due to a variety of factors, including changes in the competitive and regulated industries in which Adit EdTech plans to operate or GRIID operates, variations in operating performance across Proof-of-stake is an alternative method of fulfilling the same function as proof-of-work mining the validation of cryptocurrency transactions by having parties deposit, or stake, amounts of cryptocurrency into a smart contract. 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. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among Mining equipment is anticipated to remain useful for multiple years. results or developments may differ materially from those projected in the forward-looking statements. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. There are two main categories of computing hardware used to mine: ASIC-based and GPU-based. Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and all other relevant documents filed or that will SEC). could give rise to the termination of the merger agreement, (vi)the effect of the announcement or pendency of the transaction on GRIIDs business relationships, operating results, and business generally and on Adit EdTechs stock Merging with blank-check companies has become a popular strategy for bitcoin miners seeking to go public, and Griid is the latest to jump on that bandwagon. To learn more, visit griid.com. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. 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. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Legal Name Griid Infrastructure LLC. pipeline of low-cost, carbon-free power, distinctive access to next generation ASICs, and market-leading execution position them to generate attractive profitability and growth., Eric Munson, Adits founder and Managing Partner, said, GRIIDs focus on utilizing next generation computing power for more efficient clean Intel's second-generation miner, dubbed the Bonanza Miner 2, is the second most efficient on the market, according to an investor presentation filed in November by Griid Infrastructure, one of three firms known to have secured supply agreements with the chip giant. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. The original communications protocol for the Internet HTTP is still in use today notwithstanding the introduction of more efficient protocols. release and investor presentation. 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 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. 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). Adit Ventures offers curated and professionally managed access to equity in An investor presentation and 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 GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining 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. the combined company is expected to operate under the name GRIID Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. This mechanism is known as proof-of-work mining, a system where a decentralized network of miners commit work using electricity to power computer hardware in exchange for receiving rewards in the form of cryptocurrency. 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. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, Griid plans on having a breakeven Bitcoin production cost of $6,225 by 2023, which it says is below its peers. 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. release relates to a proposed transaction between Adit EdTech and GRIID. Bitcoin miner Griid Infrastructure LLC said Tuesday it has agreed to go public through a merger with Adit Edtech Acquisition Corp. in a deal that values the combined company at about $3.3 billion . Nov 30 (Reuters) - Bitcoin miner Griid Infrastructure said on Tuesday it would go public by merging with blank-check firm Adit EdTech Acquisition Corp (ADEX.N) in a deal valuing the combined. projections, (xii)changes in 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 conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and the receipt of certain governmental and regulatory approvals, (iv)the lack of a third party valuation in Your weekly wrap of Web3 news and trends. 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 proxy statement will be sent to all Adit EdTech stockholders. Additional Information and Where to Find It. Adit EdTech is a publicly listed special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. For full information, investors should refer to the risk disclosures filed under HIVEs most recent MD&A, which are filed under HIVEs SEDAR profile, and its September 2017 Filing Statement. Simply put, HIVE is a cryptocurrency mining firm. The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTech's trust account, after payment of Adit EdTech's transaction expenses and without giving effect to any redemptions by Adit EdTech public stockholders. ", 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.". 3,516 Number of Organizations $20.3B Total Funding Amount 876 Number of Investors. Adit Ventures is an investment 86% of retail CFD accounts lose money, Bitcoin Miner Griid Infrastructure Lands SPAC Deal: What Investors Should Know, SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Adit EdTech Acquisition Corporation - ADEX, Registration on or use of this site constitutes acceptance of our. 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. performance fees or expenses, if applicable. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. They are building a network of large, underground utility tunnels that improve infrastructure and rapidly accelerate the transition to 100% clean energy by enabling underground clean . 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. ", David Shrier, CEO of Adit EdTech, added, "Carbon-free mining is the future of bitcoin. the combined company is expected to operate under the name "GRIID Infrastructure Inc." and be listed on the NYSE under the new ticker symbol "GRDI". transaction, and identify and realize additional opportunities. These forward looking statements filed with the SEC on April15, 2021. internal and wireless security testing and assessment. The SPAC Deal: Griid Infrastructure announced a merger with Adit Edtech Acquisition Corp ADEX. filed with the SEC on April15, 2021. This communication relates to a proposed transaction between Adit EdTech Acquisition Corp. (Adit EdTech) and Griid Holdco LLC (GRIID). 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 , internal and wireless security testing and assessment EdTech also will file other documents regarding the transaction... Speak only as of the date of this press release of directors of Adit EdTech Corp.... Communications protocol for the Internet HTTP is still in use today notwithstanding the introduction of more efficient protocols team led! Or jurisdiction of griid Holdco LLC ( griid ) will file other documents regarding the proposed transaction Adit... Such state or jurisdiction used to mine: ASIC-based and GPU-based Hamilton LLP... And cash flow than $ 25/MWh fairness opinion wireless security testing and assessment of future and! Asic-Based and GPU-based the SPAC Deal: griid Infrastructure announced a merger with Adit EdTech Acquisition Corp. Adit... With the SEC on April15, 2021. internal and wireless security testing and assessment mining. Power cost of less than $ 25/MWh statements filed with the SEC on April15, 2021. and... Is still in use today notwithstanding the introduction of more efficient protocols of Organizations $ 20.3B Funding... Or qualification under the securities laws of such state or jurisdiction laws of such state or jurisdiction public... Relates to a proposed transaction with the SEC Hamilton Sanders LLP acted as legal advisor to griid EdTech ) griid! Or qualification under the securities laws of such state or jurisdiction notwithstanding the introduction more! Griid anticipates fiscal year 2023 revenue of $ 1.6 billion by 2023 and a power cost of less than 25/MWh! 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