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

CleanSpark will buy GRIID Infrastructure in an all-stock deal with total enterprise value of $155 million.What's Behind Bybit's Growing Dominance?

The purchase will see CleanSpark assuming all debt and other obligations of GRIID and provide a $5 million loan as a pay-down bridge loan of approximately $50.9 million, according to a Shares of GRIID slumped more than 50% following the announcement, while CleanSpark's rose nearly 4%, implying traders are likely seeing the deal as a fire sale.

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