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Seeking Alpha 2021-11-24 18:34:36

SPAC Adit EdTech gains on report of talks to take bitcoin miner Griid Infrastructure public

SPAC Adit EdTech gains on report of talks to take bitcoin miner Griid Infrastructure public

SPAC Adit EdTech (NYSE:ADEX) rose 2.1% on a report that it's in talks to take bitcoin miner Griid Infastructure public in a deal that will value the combined company at more than $3B. Terms of a transaction haven't been finalized, according to a Bloomberg report. The report comes after Griid, which was found in 2018 and is based in Cincinnati, Ohio, earlier this week said announced it has secured a $525M credit facility from Blockchain.com. Griid joins several other bitcoin miners that have gone public through SPACs including Bitdeer Technologies, which announced a deal to go public last week through Blue Safari Group (NASDAQ:BSGA) and Core Scientific, which is in a deal to go public through SPAC Power & Digital Infrastructure (NASDAQ:XPDI). Last week, Bloomberg reported that Prime Blockchain, a bitcoin miner and infrastructure company, is said to be in talks to be taken public through SPAC 10X Capital Venture Acquisition Corp. II (NASDAQ:VCXA).

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