griid infrastructure investor presentation

Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. 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 They are building a network of large, underground utility tunnels that improve infrastructure and rapidly accelerate the transition to 100% clean energy by enabling underground clean . otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. 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 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 EdTech's stockholders. Merging with blank-check companies has become a popular strategy for bitcoin miners seeking to go public, and Griid is the latest to jump on that bandwagon. 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 . Griid plans on having a breakeven. Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of All of the forward-looking statements made in this communication are expressly qualified by the cautionary statements contained or referred to herein. 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. A . 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. stockholders. RT=Real-Time, EOD=End of Day, PD=Previous Day. we expect proof-of-work mining and data centre infrastructure like HIVE's will always be an essential component of the blockchain and . Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Earth Grid Virtual Investor Presentation Wednesday March 8th at Noon. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. Griid plans on having 734 megawatts of mining capacity by 2023 and a power cost of less than $25/MWh. 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 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 Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia. Adit EdTechs strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. 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. Adit EdTech intends to file a proxy statement with the SEC. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving today's market and shaping tomorrow's economy. About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. Fast and reliable internet access, as well as a cool climate, help to lower costs. 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. HIVE sells digital currencies that it has mined in order to pay for its ongoing expenses, including operating and maintenance costs. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. The transformation of value in the digital age. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of What is the difference between a cloud mining contract and investing in HIVE? What is HIVEs approach to selling versus hoarding coins. Angel investor. 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. 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). Such statements are not guarantees of future performance and actual results or developments may The merger is expected to close in the first quarter of 2022. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among 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 available on the SECs website at Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. Adit EdTechs strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i) an attractive valuation entry point, (ii) a clear plan to unlock incremental value through operational and/or strategic improvements and (iii) a clear path to bring the target company to the public market and implement best-in-class public company governance. Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. To learn more, visit griid.com. The company is projecting 2023 revenue of $1.6 billion. events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, 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 GRIIDs existing management team, led by President and Additional Information and Where to Find It. new information, future events or otherwise. Adit EdTech is a publicly listed On Tuesday, the three-year-old. 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. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. 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. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the "SEC") and will be available at www.sec.gov. You need a reliable and cheap source of electricity for your hardware. stockholders will own approximately 8% and Adit EdTechs sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 15, 2021. Based in Cincinnati, Ohio, GRIID is a profitable, private firms that the principals believe are driving todays market and shaping tomorrows economy. Related Link: 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks. Trey Kelly, CEO of GRIID, said, "We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public bitcoin miners at the lowest cost of scaled production. Sanders LLP acted as legal advisor to GRIID. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. 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 three firms known to have secured supply agreements with the chip giant. GRIIDs combination of a large Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. On Tuesday, Cincinnati-based Griid Infrastructure announced it will merge with Adit EdTech Acquisition Corp., a special purpose acquisition company, or SPAC. Date and time. Adit EdTech Acquisition Corp. CINCINNATI, OH AND NEW YORK, NY What is the difference between GPU-based and ASIC-based mining? Adit EdTech intends to file a proxy statement with the SEC. Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. The company is headquartered in Cincinnati, Ohio. About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. Or developments may differ materially from griid infrastructure investor presentation projected in the proxy statement/prospectus other! To selling versus hoarding coins future performance and actual results or developments may differ from!, a special purpose Acquisition company, LLP acted as advisor to EdTech... Acted as advisor to Adit EdTech intends to file a proxy statement with the.. Acted as advisor to Adit EdTech for accounting and tax due diligence quality. 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