CleanSpark to Acquire GRIID Infrastructure in $155M Deal

The acquisition will expand CleanSpark's mining capacity in Tennessee, aiming for 400 MW by 2026.

CleanSpark is set to acquire all of GRIID's issued and outstanding stock for $155 million.
The deal includes a hosting agreement to add 20 MW of available power immediately.
CleanSpark plans to reach 100 MW in Tennessee by the end of 2024 and 400 MW by 2026.
The acquisition has been approved by both companies' boards and is expected to close in Q3 2024.
GRIID shares fell over 50% following the announcement, while CleanSpark's shares saw a slight increase.