Bitcoin Miner CleanSpark (CLSK) Buys Out GRIID In $155 Million Stock Transaction

CleanSpark – one of the largest publicly traded Bitcoin mining firms – announced on Thursday that it had acquired one of its smaller competitors, GRIID Infrastructure, in an all-stock deal.

“This acquisition would give us a clear and steady path over the next three years to accomplish in Tennessee what we proudly achieved in Georgia over the past three years,” said Zach Bradford, CleanSpark’s CEO, in a Following the announcement, shares for GRIID tanked more than 50% while CLSK shares popped by 4%, implying that traders viewed the merger agreement as a fire sale.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Miner CleanSpark to Buy Peer GRIID in $155M DealAoyon Ashraf is managing editor with more than a decade of experience in covering equity markets
Source: CoinDesk - 🏆 291. / 63 Read more »

CleanSpark acquires Bitcoin miner GRIID in $155 million dealCleanSpark's operational power is expected to reach 100 MW by the end of the year, with the goal of achieving 400 MW by 2026.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Riot Platforms Pursues Acquisition of Competitor Bitcoin Miner BitfarmsCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Miners are selling their bitcoin again as the cryptocurrency struggles to hold onto $70,000Signs of miner capitulation are emerging as bitcoin wrestles with the $70,000 level.
Source: CNBC - 🏆 12. / 72 Read more »

Bitcoin Miner Core Scientific Partners With AI Firm, Forecasts $3.5 Billion in RevenueCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Four Satoshi Era Bitcoin Miner Wallets Revive to Make This Suprising MoveTiming of reactivation of dormant Bitcoin miner wallets remains noteworthy
Source: Utoday_en - 🏆 295. / 63 Read more »