CleanSpark Enters Into Definitive Merger Agreement to Acquire GRIID Infrastructure For $155M; Enters Exclusive Hosting Agreement For All Currently Available Power
Portfolio Pulse from Benzinga Newsdesk
CleanSpark has entered into a definitive merger agreement to acquire GRIID Infrastructure for $155 million. The acquisition is expected to add over 400 MW in Tennessee over the next two years, bringing CleanSpark's total capacity to over 1 GW.
June 27, 2024 | 1:02 pm
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POSITIVE IMPACT
CleanSpark's acquisition of GRIID Infrastructure for $155 million is expected to significantly increase its capacity, adding over 400 MW in Tennessee over the next two years. This will bring CleanSpark's total capacity to over 1 GW.
The acquisition will significantly increase CleanSpark's capacity, which is likely to positively impact its stock price in the short term due to the expansion of its infrastructure and potential for increased revenue.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
GRIID Infrastructure is being acquired by CleanSpark for $155 million. This acquisition will integrate GRIID's assets into CleanSpark's operations, potentially benefiting GRIID's stakeholders.
The acquisition by CleanSpark is likely to be beneficial for GRIID Infrastructure's stakeholders as it integrates into a larger entity with expanded resources and capacity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80