Mining Infrastructure Firm GRIID Secures $525M Credit From Blockchain.com
The four-year term credit facility will be used for additional mining capacity.
Mining infrastructure firm GRIID has secured a $525 million credit facility from the cryptocurrency exchange and wallet provider Blockchain.com.
- Cincinnati, Ohio-based GRIID said the four-year term credit facility will be used to bring on additional mining capacity, taking advantage of over 1,300 megawatts of available power from existing energy generation partners.
- In May, Blockchain.com acquired Artificial Intelligence Exchange (AiX) and in March the firm reportedly raised $300 million in Series C funding led by partners of DST Global, Lightspeed Venture Partners and VY Capital in a funding round that valued the company at $5.2 billion.
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. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.