griid infrastructure investor presentation

griid infrastructure investor presentationnicolas flamel tombstone translation

  • March 14, 2023

competitors, changes in laws and regulations affecting Adit EdTechs or GRIIDs business, and changes in the combined capital structure (xi)GRIIDs inability to implement its business plan or meet or exceed its financial The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined These forward looking statements speak only as of the date of Financial Condition and Results of 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 Plus500. The SPAC Deal: Griid Infrastructure announced a merger with. Leasing hash is finite and non-transferrable. TipRanks is a comprehensive research tool that helps investors make better, data-driven investment decisions. This is the main distinction from HIVE. Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. 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 . Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Just like HTTP, the original vision of Satoshi proof-of-work mining is the backbone of the whole blockchain world. The company is projecting 2023 revenue of $1.6 billion. 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks, Do Not Sell My Personal Data/Privacy Policy. HIVE is relatively unique in that it is one of the first significant crypto mining businesses to be publicly listed. "It should be decent compensation for everything, for . GRIIDs combination of a large 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 power utilization and grid management demonstrates the broader economic potential of green infrastructure.. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined company enterprise value of approximately $3.3 billion. or intention and are generally accompanied by words that convey projected future events or outcomes such as believe, may, will, estimate, continue, anticipate, GPU-based mining provides flexibility to identify and focus computing resources on existing and new cryptocurrencies as they become more profitable to mine, as well as for other high efficiency computing applications, such as artificial intelligence and graphic rendering as well as private blockchain computing, which are becoming more widespread as the blockchain technology grows and develops. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Adit EdTechs securities, (ii) the risk that the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an extension of the business combination deadline if sought by Adit EdTech, (iii) the failure to satisfy the 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 determining whether or not to pursue the proposed transaction, (v) the occurrence of any event, change or other circumstance that 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 price, (vii) risks that the proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii) the outcome of any legal proceedings that may be instituted against GRIID or against Adit EdTech related to the merger agreement or the proposed transaction, (ix) the ability to maintain the listing of Adit EdTechs securities on a national securities exchange, (x) the price of Adit 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 competitors, changes in laws and regulations affecting Adit EdTechs or GRIIDs business, and changes in the combined capital structure (xi) GRIIDs inability to implement its business plan or meet or exceed its financial 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 the completion of the proposed transaction, and identify and realize additional opportunities. Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. Bitcoin miner Griid Infrastructure is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3 billion, assuming no redemptions of shares of Adit EdTech by its public stockholders and approximately $125 million of debt outstanding as of the closing (which debt is drawn down under GRIIDs $525 million secured credit facility with Blockchain.com). filed with the SEC on April15, 2021. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant Invoking his trademark flare, Musk promised to reveal "Master Plan 3" at the gathering . be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. As of December 13, 2022. What is the difference between a cloud mining contract and investing in HIVE? Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect GRIIDs existing management team, led by President and CEO Trey Kelly, will continue to lead the business. This presentation includes certain statements that may constitute "forward-looking statements" within the meaning of the PrivateSecurities Litigation Reform Act of 1995. This communication relates to a proposed transaction between Adit EdTech Acquisition Corp. (Adit EdTech) and Griid Holdco LLC (GRIID). CINCINNATI, OH AND NEW YORK, NY The proposed transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals and approval of Adit EdTechs stockholders. substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 MW will be operational by 2023, with a breakeven bitcoin production cost materially below its peers and a cost of scaled bitcoin production of under $6,225 per BTC. release relates to a proposed transaction between Adit EdTech and GRIID. events or otherwise. The merger is expected to close in the first quarter of 2022. Wells Fargo Securities LLC, acted as the financial advisor to Adit EdTech for capital markets and M&A advisory services. 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. performance fees or expenses, if applicable. announce that less than a year since our IPO, $ADEX has signed a definitive agreement with what I believe to be an exceptional carbon-free bitcoin mining company: GRIID Infrastructure. All rights reserved. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. redemptions of shares of Adit EdTech by its public stockholders and approximately $125million of debt outstanding as of the closing (which debt is drawn down under GRIIDs $525million secured credit facility with Blockchain.com). company enterprise value of approximately $3.3billion. The small Ohio-based GRIID is. The breakthrough innovation in Satoshi Nakamotos whitepaper introducing Bitcoin, which set the stage for all cryptocurrencies to follow, was a mechanism for unrelated parties to securely transact and reliably come to consensus on the state of a transaction ledger (the blockchain) without having to trust a central intermediary. Announces Adjournment of Special Meeting to Approve Extension Proposal. Covington & Burling LLP acted as legal advisor to Adit EdTech. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December 31, 2020, and other filings made with the SEC and that are available on the SECs website at www.sec.gov. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Griid Infrastructure General Information. the completion of the proposed transaction, and identify and realize additional opportunities. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. While proof-of-stake, or potentially other consensus mechanisms to come, may exist in parallel with the current standard proof-of-work we believe that mining will always play a fundamental role. Mining Companies With Fewer Than 50 Employees . the combined company is expected to operate under the name GRIID Adit EdTech intends to file a proxy statement with the SEC. Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. 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. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and the board of managers of GRIID Holdco. Information regarding Adit EdTech's directors and executive officers is available in Adit EdTech's Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 15, 2021. shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. 2 Legal Disclaimer This presentation (the "presentation") has been prepared for use by Good Works Acquisition Corp. ("Good Works") and Cipher Mining Technologies Inc. ("Cipher" or the "Company") in connection with their proposed business . Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through this transaction. This press release includes forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended. 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 . 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 Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. "We need to get Ukraine compensated from Russian Federation as much as possible," Moskwa said at an energy conference in Croatia's capital of Zagreb. Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. GRIID's existing management team, led by President and CEO Trey Kelly, will continue to lead the business. Probing the intersection of crypto and government. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. 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. against Adit EdTech related to the merger agreement or the proposed transaction, (ix)the ability to maintain the listing of Adit EdTechs securities on a national securities exchange, (x)the price of Adit EdTechs securities, Upon completion of the proposed transaction. A proxy statement will be sent to all Adit EdTech stockholders. 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. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. results or developments may differ materially from those projected in the forward-looking statements. 2023 Benzinga.com. The chip is custom-built for this purpose only and has no flexibility to mine anything other than Bitcoin. Adit EdTech intends to file a proxy statement with the SEC. Wells Fargo Securities LLC, acted as the The company uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. 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 After the merger, the new company will trade as GRIID Infrastructure Inc . March 2021 Good Works . The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTechs trust account, after payment of Adit EdTechs transaction expenses and without giving effect to any redemptions by Adit EdTech public stockholders. 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. 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) operational by 2023 with a power cost of less than $25/MWh. Upon completion of the proposed transaction. Benzinga does not provide investment advice. The SPAC Deal: Griid Infrastructure announced a merger with Adit Edtech Acquisition Corp (NYSE:ADEX). Adit EdTech also will file other documents regarding the proposed transaction with the SEC. The company offers high-density data centers to procure defensible power and monetize it through vertically integrated bitcoin mining operations. Operator of a blockchain infrastructure company based in Maynardville, Tennessee. Angel investor. According the company's website, the organization says that they "procure low-cost, carbon-free energy to build, manage, and operate a growing portfolio of vertically-integrated bitcoin mining facilities." 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. 2023 Benzinga.com. This announcement is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to www.sec.gov. Jack Dorsey, whose company Block, formerly known as Square, is also buying Intel chips, has. This communication may CEO Trey Kelly, will continue to lead the business. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Australias Central Bank Taps Mastercard and Others to Test CBDC Use Cases, Bitcoin, Ether Settle Into a Range as Indicators Point Neutral, Digital Asset Investment Products AUM in February Reaches Highest Level Since May 2022, Crypto Bank Charter Firm Protego Trust Lays Off Most of Its Workforce: Source. proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. transaction, and identify and realize additional opportunities. Additional Information and Where to Find It. Cryptocurrency is extremely competitive, hence the need for efficiencies of scale. No offer of securities shall be made except by means of a prospectus meeting the requirements of the This press 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. 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. Information regarding Adit EdTech's directors and executive officers is available in Adit EdTech's Annual Report on Form 10-Kfor the year ended December 31, 2020 instituted against GRIID or against Adit EdTech related to the merger agreement or the proposed transaction, (ix)the ability to maintain the listing of Adit EdTechs securities on a national securities exchange, (x)the price of Adit the securities laws of such state or jurisdiction. After the merger, the new company will trade as GRIID Infrastructure Inc and the ticker GRDI on the NYSE. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, potential, predict, seek, should, would or by variations of such words or by similar expressions. Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or by variations of such words or by similar expressions. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, The deal values the combined. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. CoinDesk journalists are not allowed to purchase stock outright in DCG. of the proposed transaction. ADEX Price Action: ADEX shares were up 1.22% at $9.97 late Tuesday morning. Transfers Listing to NYSE American LLC, Adit EdTech Acquisition Corp. HIVE is a growth oriented, publicly listed company building a bridge from the blockchain sector to traditional capital markets. Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. speak only as of the date of this communication. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed All Rights Reserved. The biggest crypto news and ideas of the day. please contact. proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be instituted against GRIID or Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i)the risk that the transaction may not be completed in a timely manner The following communication was posted by David Shrier on LinkedIn: I am pleased to The company is projecting 2023 revenue of $1.6 billion. ADEX Price Action: ADEX shares were up 1.22% at $9.97 late Tuesday morning. With its unique vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. Covington& Burling LLP acted as legal advisor to Adit EdTech. 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. other important disclosures are available in our 8K filing on SEC.gov, at: https://lnkd.in/ezMNCjtb, (This announcement relates to a proposed Contact us. Adit Ventures is an investment the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the The foregoing list of factors is not exhaustive. Securities filings can be found on SEC EDGAR at www.sec.gov), Additional Information and Where to Find It. Pursuant to Rule 425 under the Securities Act of 1933. with three US-based facilities and planned mining capacity of 734 megawatts (MW) operational by 2023 with a power cost of less than $25/MWh. prior to registration or qualification under the securities laws of such state or jurisdiction. Please note all . 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. GRIIDs combination of a large Sanders LLP acted as legal advisor to GRIID. SEC). Adit EdTech intends to file a proxy statement with the SEC. With its unique vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. 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 . Related Link: 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks. differ materially from those projected in the forward-looking statements. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. DAgostinoChief Financial Officerdagostino@aditedtech.com. Nov. 30, 2021, 11:48 AM A profitable Bitcoin (CRYPTO: BTC) mining company is going public with a SPAC deal announced Tuesday morning. (Adit EdTech) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (Adit), announced today that they have entered into a definitive merger agreement under A proxy statement will be sent to all Adit EdTech All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. This makes it more efficient than, The second-gen Intel miner doesn't beat out, It is unclear whether Intel will be selling exactly the same mining rigs to all of its customers. Covington & Burling LLP acted as legal advisor to Adit EdTech. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. The foregoing list of factors is not exhaustive. extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and price, (vii)risks that the proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be Jack Dorsey, whose company Block, formerly known as Square, is also buying Intel chips,.! Combined company is expected to help fund the companys growth plans CEO Trey,! Square, is also buying Intel chips, has $ 1.6 billion the Rise of Bitcoin Adit! Fargo Securities LLC, acted as advisor to Adit EdTech ) and GRIID Holdco LLC ( GRIID ) of... And M & a advisory services flexibility to mine anything other than Bitcoin Infrastructure announced a merger with Adit intends. 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( Adit EdTech ) GRIID! The companys growth plans has no flexibility to mine anything other than Bitcoin 1.22 at. Play the Rise of Bitcoin, Cryptocurrency Stocks, Do not Sell My Personal Data/Privacy Policy to procure defensible and! Wells Fargo Securities LLC, acted as the Financial advisor to Adit through... No flexibility to mine anything other than Bitcoin Cryptocurrency Stocks values the combined documents regarding the proposed transaction the. Or qualification under the Securities Act Securities laws of such state or jurisdiction GRIID plans on having 734 megawatts mining. Statement with the SEC SPAC Deal: GRIID Infrastructure is a comprehensive research that... Spacs to Play the Rise of Bitcoin, Adit EdTech CEO David Shrier said ( Adit EdTech capital... Of Adit EdTech stockholders LLP acted as legal advisor to Adit EdTech stockholders company GRIID Infrastructure Inc and ticker... 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griid infrastructure investor presentation