Cleanspark Inc.
CleanSpark Announces Merger Agreement with GRIID Infrastructure
Summary
On June 26, 2024, CleanSpark, Inc. announced a definitive merger agreement with GRIID Infrastructure Inc. Under the terms of the agreement, CleanSpark will merge with GRIID, with GRIID surviving as the continuing corporation. CleanSpark will provide a term loan of $55,918,638.68 to GRIID, subject to customary closing conditions. The transaction is expected to close on or before March 31, 2025. Key stakeholders have entered into voting agreements in support of the merger, and GRIID has agreed to host CleanSpark's cryptocurrency mining equipment under a colocation services agreement.
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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.
Official SEC Documents
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