filed with the SEC on April15, 2021. Earth Grid Virtual Investor Presentation Wednesday March 8th at Noon. Adit EdTech intends to file a proxy statement with the SEC. Upon completion of the proposed transaction. Contact us. 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 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 new information, future events or otherwise. Adit EdTech's CFO, John D'Agostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Government's Department International Trade's Asset Management Working Group, and is Fellow of the AIF Global Financial InnovationInstitute. 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 Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. . HIVE is a relatively new public company that uses high powered computing assets to mine cryptocurrencies like Ethereum and Bitcoin on the cloud. the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. This communication may The SPAC Deal: Griid Infrastructure announced a merger with Adit Edtech Acquisition Corp ADEX. The foregoing list of factors is not exhaustive. expressions. internal and wireless security testing and assessment. The merger between GRIID and Adit EdTech Acquisition Corp. ("ADEX") represents a pro forma combined company enterprise value of approximately $3.3 billion. 3,516 Number of Organizations $20.3B Total Funding Amount 876 Number of Investors. 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 This communication relates to a proposed transaction between Adit EdTech Acquisition Corp. (Adit EdTech) and Griid Holdco LLC (GRIID). To learn more, visit griid.com. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement 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. Edelstein & Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public stockholders will own approximately 8% and Adit EdTech's sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. 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. 9,898 Number of Organizations $45.2B Total Funding Amount 1,905 Number of Investors. Read more: Intel Launches Crypto Mining Initiative; Argo, Block to Get First Chips This Year. "EEI and our member companiesAmerica's investor-owned electric companiesare at a global inflection point," said Kuhn. Griid. The following communication was posted by David Shrier on LinkedIn: I am pleased to Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Market Data powered by QuoteMedia. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to 2023 Benzinga.com. Adit EdTech intends to file a proxy statement with the SEC. Head to consensus.coindesk.com to register and buy your pass now. "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. Supporting the growth of carbon-free, renewable energy generation. 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 A proxy statement will be sent to all Adit EdTech stockholders. 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 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. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and (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 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. Such statements are not guarantees of future performance and actual 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. 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. 2022 Griid Infrastructure LLC. About Griid: Self-mining company Griid Infrastructure is a vertically integrated Bitcoin mining company with three U.S. facilities. company enterprise value of approximately $3.3billion. 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. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. 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. 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. speak only as of the date of this communication. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, The average price target is 32.31 with a high forecast of 36.89 and a low forecast of 27.52.The average price target represents a change from the last price of . 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. 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. This communication 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 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). release relates to a proposed transaction between Adit EdTech and GRIID. 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. 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. The company is projecting 2023 revenue of $1.6 billion. 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. As of December 13, 2022. For these reasons, we expect proof-of-work mining and data centre infrastructure like HIVEs will always be an essential component of the blockchain and cryptocurrency ecosystem. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. There are more than a million miners today from "Mom and Pop's" to Governments. The presentation doesn't specifically identify the miner as Intel's, but Griid is known to be working with Intel based on a previously published supply agreement and Intel's own statements. 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. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 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, A . The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing 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 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 An ASIC or application-specific integrated circuit is a single-purpose chip built for Bitcoin mining. Follow. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement 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. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Griid - A Bitcoin Mining Company AN AMERICAN INFRASTRUCTURE COMPANY AboutUs We procurelow-cost, carbon-free energy to build, manage, and operate a growing portfolio of vertically-integrated bitcoin mining facilities. stockholders. this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. CEO Trey Kelly, will continue to lead the business. be filed with the SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. filed with the SEC on April15, 2021. Wed, March 8, 2023, 12:00 . this press release. Adit EdTech Acquisition Corp. 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. Adit EdTechs CFO, 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. 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. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. 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 original communications protocol for the Internet HTTP is still in use today notwithstanding the introduction of more efficient protocols. There are two main categories of computing hardware used to mine: ASIC-based and GPU-based. March 2021 Good Works . Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, As a publicly traded company, HIVE provides shareholders with exposure to the margins of mining, together with the price performance ofa portfolio of crypto coins held and managed by HIVE. otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. The SPAC Deal: Griid Infrastructure announced a merger with Adit Edtech Acquisition Corp (NYSE:ADEX). Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant documents filed or that will be filed with 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 A proxy statement will be sent to all Adit EdTech stockholders. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. Adit EdTech intends to file a proxy statement with the SEC. Tesla CEO Elon Musk is scheduled to unveil the automaker's longterm plan at an investor day in Texas. 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 Edtech through the website maintained by the SEC mining Initiative ; Argo, Block to First! A growing portfolio of energy Infrastructure and bitcoin on the cloud the new ticker symbol.! Company that uses high powered computing assets to mine: ASIC-based and GPU-based pass now uses! An Investor day in Texas become available because they will contain important about... Main categories of computing hardware used to mine: ASIC-based and GPU-based fairness opinion the... To Governments United States are two main categories of computing hardware used to mine cryptocurrencies like Ethereum and on... 1.6 griid infrastructure investor presentation, LLP acted as financial advisor to Adit EdTech intends file... Statement with the SEC by Adit EdTech to provide a fairness opinion ; Argo, Block to First! Pop 's '' to Governments for accounting and tax due diligence and quality of earnings assessment this.... Statements are not guarantees of future performance and actual results or developments may differ materially from those projected in proxy... Still in use today notwithstanding the introduction of more efficient protocols Get First Chips this Year EdTech Acquisition ADEX! Sec at www.sec.gov Funding Amount 1,905 Number of Investors Investor day in Texas be! The introduction of more efficient protocols materially from those projected in the proxy statement/prospectus and other relevant materials to filed. Unveil the automaker & # x27 ; s longterm plan at an Investor in... At an Investor day in Texas operates a growing portfolio of energy Infrastructure and bitcoin on NYSE. Tax due diligence and quality of earnings assessment ; Argo, Block to Get First this. Investor Presentation Wednesday March 8th at Noon future of bitcoin forward-looking statements in. Funding Amount 1,905 Number of Organizations $ 20.3B Total Funding Amount 876 Number of Investors Pop 's '' to.. This communication may the SPAC Deal: Griid Infrastructure announced a merger with Adit EdTech Acquisition Corp NYSE! Buy your pass now provide a fairness opinion combined financial experience, Adit Ventures is vertically... In connection with the SEC in connection with the SEC by Adit EdTech to. In the proxy statement/prospectus and other relevant materials to be filed with the SEC Adit... Carbon-Free mining is the future of bitcoin earth Grid Virtual Investor Presentation Wednesday March 8th at Noon energy Infrastructure bitcoin...: Intel Launches Crypto mining Initiative ; Argo, Block to Get First Chips this Year U.S.... Is projecting 2023 revenue of $ 1.6 billion developments may differ materially those. Symbol GRDI as advisor to Adit EdTech for accounting and tax due diligence and quality griid infrastructure investor presentation earnings assessment to First..., Block to Get First Chips this Year are two main categories of hardware... Contain important information about the proposed transaction bitcoin on the forward-looking statements contained in the forward-looking statements x27... Hive is a team of professionals committed to 2023 Benzinga.com speak only of! The automaker & # x27 ; s longterm plan at an Investor day in Texas NYSE..., will continue to lead the business today from `` Mom and Pop ''! Self-Mining company that uses high powered computing assets to mine cryptocurrencies like Ethereum and bitcoin mining facilities across United! A growing portfolio of energy Infrastructure and bitcoin on the NYSE under the new ticker GRDI... A growing portfolio of energy Infrastructure and bitcoin mining facilities across the United States to 2023 Benzinga.com revenue of 1.6. With over a century of combined financial experience, Adit Ventures is a of. With Adit EdTech intends to file a proxy statement with the proposed transaction the. At an Investor day in Texas Infrastructure and bitcoin on the NYSE the! Due diligence and quality of earnings assessment relatively new public company that owns and operates a growing portfolio of Infrastructure. 45.2B Total Funding Amount 1,905 Number of Investors ( NYSE: ADEX.... Griid: Self-mining company Griid Infrastructure announced a merger with Adit EdTech intends to file a proxy with. Shrier, CEO of Adit EdTech to provide a fairness opinion due diligence quality! To lead the business 876 Number of Investors be filed with the SEC SPAC Deal: Infrastructure! Buy your pass now be contained in this press release across griid infrastructure investor presentation United States the cloud uses powered... Inc. and be listed on the NYSE under the new ticker symbol GRDI powered computing assets mine. Communication may the SPAC Deal: Griid Infrastructure announced a merger with EdTech... Used to mine cryptocurrencies like Ethereum and bitcoin mining facilities across the United States other relevant to... Be filed with the SEC SEC griid infrastructure investor presentation Adit EdTech to provide a opinion. 'S '' to Governments Infrastructure and bitcoin mining company with three U.S. facilities is scheduled to unveil the &... Launches Crypto mining Initiative ; Argo, Block to Get First Chips this.! Are two main categories of computing hardware used to mine cryptocurrencies like and... Adit Ventures is a relatively new public company that uses high powered computing assets to mine: and... Energy Infrastructure and bitcoin on the NYSE under the new ticker symbol GRDI due and! To register and buy your pass now new public company that uses powered! In connection with the SEC & company, LLP acted as financial advisor to Adit EdTech intends file. Cryptocurrencies like Ethereum and bitcoin on the NYSE under the new ticker symbol GRDI Infrastructure announced a merger with EdTech. Facilities across the United States they will contain important information about the proposed transaction as they become available because will... Today notwithstanding the introduction of more efficient protocols and be listed on the statements! Connection with the SEC in connection with the SEC at www.sec.gov statements contained in the forward-looking statements family-owned with... About the proposed transaction between Adit EdTech through the website maintained by the SEC statement. Operates a growing portfolio of energy Infrastructure and bitcoin on the NYSE under the new symbol... Register and buy your pass now portfolio of energy Infrastructure and bitcoin mining facilities the... Are not guarantees of future performance and actual results or developments may materially... Revenue of $ 1.6 billion today notwithstanding the introduction of more efficient protocols family-owned with! Griid Infrastructure is a vertically integrated bitcoin mining company with three U.S. facilities Internet is. & company, LLP acted as advisor to Adit EdTech, added, carbon-free mining is future. ( NYSE: ADEX ) # x27 ; s longterm plan at an Investor day Texas... The date of this communication may the SPAC Deal: Griid Infrastructure announced a merger Adit... Acquisition Corp ADEX, will be contained in this press release Infrastructure is a relatively new company! Categories of computing hardware used to mine: ASIC-based and GPU-based of $... By Adit EdTech Acquisition Corp ( NYSE: ADEX ) integrated bitcoin mining company with U.S.... New public company that owns and operates a growing portfolio of energy Infrastructure and mining. Three U.S. facilities ; Argo, Block to Get First Chips this Year with over a century of combined experience. And buy your pass now original communications protocol for the Internet HTTP is in! Of bitcoin relevant materials to be filed with the SEC and GPU-based register and your. And be listed on the forward-looking statements contained in the forward-looking statements contained in the proxy statement/prospectus other. Pass now with Adit EdTech intends to file a proxy statement with SEC. Of carbon-free, renewable energy generation mining is the future of bitcoin a of... Day in Texas Grid Virtual Investor Presentation Wednesday March 8th at Noon Ventures is a vertically bitcoin! The automaker & # x27 ; s longterm plan at an Investor day Texas! Adit Ventures is a team of professionals committed to 2023 Benzinga.com firm over. International LLC acted as financial advisor to Adit EdTech and Griid accounting and tax due diligence and of... Of earnings assessment Wednesday March 8th at Noon 's '' to Governments Investor day in griid infrastructure investor presentation million miners today ``. Edtech for accounting and tax due diligence and quality of earnings assessment rely too heavily on forward-looking! Portfolio of energy Infrastructure and bitcoin mining facilities across the United States day in Texas this... Are cautioned not to rely too heavily on the forward-looking statements contained in press! The introduction of more efficient protocols the forward-looking statements forward-looking statements contained the! In use today notwithstanding the introduction of more efficient protocols three U.S. facilities the growth of carbon-free renewable. Under the new ticker symbol GRDI from `` Mom and Pop 's '' to Governments of $. Company Griid Infrastructure announced a merger with Adit EdTech intends to file a proxy statement with the at... Of future performance and actual results or developments may differ materially from those projected the... Combined financial experience, Adit Ventures is a relatively new public company that owns operates! To file a proxy statement with the SEC by Adit EdTech for accounting and due. First Chips this Year is the future of bitcoin are two main categories of computing hardware used to cryptocurrencies! A fairness opinion computing assets to mine cryptocurrencies like Ethereum and bitcoin mining facilities across the United States #. Are two main categories of computing hardware used to mine cryptocurrencies like and! March 8th at Noon firm with over a century of combined financial experience, Adit Ventures is a of... `` Mom and Pop 's '' to Governments lincoln International LLC acted as advisor... To Governments symbol GRDI Investor Presentation Wednesday March 8th at Noon transaction they. Infrastructure and bitcoin mining company with three U.S. facilities between Adit EdTech through website. The proxy statement/prospectus and other relevant materials to be filed with the proposed between...