CleanSpark, Inc., a company listed on the US stock exchange under the ticker CLSK, has announced a definitive agreement to acquire GRIID Infrastructure Inc., a transaction based on an enterprise value of $155 million. The acquisition, which is structured as an all-stock deal, will result in GRIID stockholders receiving shares of CleanSpark common stock. The deal also includes the assumption of GRIID's debt. Concurrently, the companies have entered into an exclusive hosting agreement for all currently available power, with 20 MW being allocated to CleanSpark immediately. CleanSpark's CEO, Zach Bradford, expressed optimism about the acquisition, highlighting plans to expand their operations in Tennessee to over 400 MW in the next two years, with an immediate goal to exceed 100 MW by...Show More

CleanSpark, Inc., a company listed on the US stock exchange under the ticker CLSK, has announced a definitive agreement to acquire GRIID Infrastructure Inc., a transaction based on an enterprise value of $155 million. The acquisition, which is structured as an all-stock deal, will result in GRIID stockholders receiving shares of CleanSpark common stock. The deal also includes the assumption of GRIID's debt. Concurrently, the companies have entered into an exclusive hosting agreement for all currently available power, with 20 MW being allocated to CleanSpark immediately. CleanSpark's CEO, Zach Bradford, expressed optimism about the acquisition, highlighting plans to expand their operations in Tennessee to over 400 MW in the next two years, with an immediate goal to exceed 100 MW by the end of the current calendar year and 200 MW by 2025. GRIID's CEO, Trey Kelly, and CSO, Harry Sudock, also conveyed their enthusiasm for the merger, aligning with CleanSpark's vision and growth strategy. The transaction is forward-looking and subject to customary closing conditions, including GRIID stockholder approval and regulatory approvals.