GRIID Infrastructure (GRDI), a bitcoin mining company, recently commenced trading on the Nasdaq Global Market under the ticker symbol “GRDI” while maintaining its presence on Cboe Canada with the same ticker. Following its merger with a special purpose acquisition company (SPAC) Adit EdTech Acquisition Corp, GRIID shares faced a second-day decline on Nasdaq, trading at approximately $7.30, down 24% from its opening price of $9.66. Closing the day with a 43% decline at $5.47 per share, GRDI’s stock continued to experience challenges, falling an additional 17% on Tuesday. The mining company, founded in 2018, decided to go public during the 2021 bull market when the combined enterprise value stood at $3.3 billion. Despite facing delays due to the crypto winter, GRIID successfully went public in 2024 with a current market cap of approximately $322 million. The company, navigating a competitive mining landscape, is strategically expanding its electrical capacity to 436MW by the end of 2024, anticipating the upcoming bitcoin halving event in April.
Bitcoin Miner GRIID Shares Extend Drop After Nasdaq Listing
