CleanSpark announced the completion of its acquisition of GRIID Infrastructure Inc. on October 30, 2024, following GRIID stockholders' approval on October 28. The strategic merger aims to expand CleanSpark's Bitcoin mining capacity to over 400 MW in Tennessee, leveraging the Tennessee Valley Authority service territory for power supply diversity.Under the merger agreement terms, each GRIID common stock share was converted into approximately 0.069593885 shares of CleanSpark common stock, resulting in the issuance of 5,031,254 CleanSpark shares. The deal included conversion of GRIID's restricted stock units, options, and warrants into corresponding CleanSpark securities.The merger strengthens CleanSpark's operational presence in Tennessee, with GRIID's existing 50 MW capacity and workforce being integrated into CleanSpark's operations. GRIID's common stock will be delisted from Nasdaq and Cboe Canada following the transaction completion.

CleanSpark announced the completion of its acquisition of GRIID Infrastructure Inc. on October 30, 2024, following GRIID stockholders' approval on October 28. The strategic merger aims to expand CleanSpark's Bitcoin mining capacity to over 400 MW in Tennessee, leveraging the Tennessee Valley Authority service territory for power supply diversity.Under the merger agreement terms, each GRIID common stock share was converted into approximately 0.069593885 shares of CleanSpark common stock, resulting in the issuance of 5,031,254 CleanSpark shares. The deal included conversion of GRIID's restricted stock units, options, and warrants into corresponding CleanSpark securities.The merger strengthens CleanSpark's operational presence in Tennessee, with GRIID's existing 50 MW capacity and workforce being integrated into CleanSpark's operations. GRIID's common stock will be delisted from Nasdaq and Cboe Canada following the transaction completion.