Mining Infrastructure Firm GRIID Secures $525M Credit From Blockchain.com

The four-year term credit facility will be used for additional mining capacity.

Nov 22, 2021 at 2:36 p.m. UTC
Updated Nov 22, 2021 at 4:28 p.m. UTC

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.

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Tanzeel Akhtar is a CoinDesk news reporter based in Europe.