CleanSpark, a prominent Bitcoin mining company based in Las Vegas, has agreed to acquire GRIID Infrastructure in a deal valued around $155 million. This acquisition includes all of GRIID’s issued and outstanding stock and is part of CleanSpark’s strategic build-out in Tennessee. The acquisition involves the addition of 20 megawatts of power immediately and aims to scale CleanSpark’s operations to over 400 megawatts in Tennessee by 2026. CEO Zach Bradford stated this deal allows the company to replicate its Georgia success in Tennessee. The transaction, approved by both companies’ boards, is pending GRIID shareholder approval and is expected to close in Q3. This move follows CleanSpark’s recent buying spree, including acquisitions in Mississippi, Wyoming, and Georgia totaling nearly $65 million.

Cryptocurrency Mining, Renewable Energy,United States