CLEPARK takes over Bitcoin-Miner Griid for $ 155 million

• ClePark announced on June 27 that Griid Infrastructure, a Bitcoin-Miner based in the USA, took over for $ 155 million.
• The company assumes that the pure share dealing will be completed in the third quarter of 2024, subject to the consent of the GRIID shareholders and other usual requirements.

The Bitcoin miner ClaSplanspark announced today that it has concluded an agreement to acquire Griid Infrastructure as part of a pure stock transaction worth $ 155 million.

according to a Press release As part of the merger agreement, the two Bitcoin mining companies also concluded an exclusive hosting contract for Griid's entire service currently available. 20 MW of this service is immediately assigned to CllePark.

"We look forward to welcoming the Griid team in the Claanspark family and are excited about the Cle Transark method that we have carefully refined together with the communities we have cared for in Georgia and Mississippi. said ClePark-CEO Zach Bradford in an explanation.

Claanspark strives for 400 MW by 2026

ClePark, which has already completed other shops, expects to expand its activities in Tennessee in the next three years. The mining company is likely to achieve the operating capacity in Georgia in the same period.

"This performance was in the establishment of an infrastructure with an output of over 400 MW, secured by valuable, long-term power contracts," noted Bradford.

The mining company strives to reach over 100 MW in Tennessee by the end of this year, in 2025 200 MW and over 400 MW in 2026.

conclusion of the transaction in the 3rd quarter

According to the announcement, the takeover of Griid by ClePark has already received the unanimous approval of the board members of both companies.

Therefore, assume that the transaction will be completed in the third quarter of 2024. However, this is still subject to the consent of the Griid shareholders and other usual final conditions.

The takeover of Griid comes through CleParkk, while the plans of another Bitcoin miners, Riot Platforms, Bitfarms get to the blank. In the latest development around the saga, Riot reports reported has decided to restructure the board of Bitfarms and to take three seats.