Cleanspark Inc.
CleanSpark to Acquire GRIID Infrastructure in $155M All-Stock Deal
Summary
On June 27, 2024, CleanSpark, Inc. and GRIID Infrastructure Inc. announced a merger agreement whereby CleanSpark will acquire GRIID in an all-stock transaction valued at $155 million. The transaction is expected to close in Q3 2024, pending GRIID shareholder approval and other customary conditions. This acquisition will add over 400 MW of capacity in Tennessee to CleanSpark, expanding its total announced, planned, and owned capacity to over 1 GW.
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About Cleanspark Inc.
Cleanspark Inc. is a technology company primarily focused on providing advanced energy software and control technology solutions. The company's main objective is to help customers achieve energy efficiency and maximize cost savings through its innovative microgrid design and energy analytics. Cleanspark Inc. offers services to a wide range of markets including commercial, industrial, and residential sectors, as well as unique solutions for military and municipal applications. Its solutions empower users to take control of their power needs by integrating multiple power sources, energy storage, and intelligent control systems. As the demand for sustainable and resilient energy solutions increases, Cleanspark Inc. plays a significant role in the transition towards more decentralized and efficient energy systems, aligning with global sustainability trends and energy independence initiatives.
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