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Mining Infrastructure Firm GRIID Secures $525M Credit From Blockchain.com
The four-year term credit facility will be used for additional mining capacity.
Updated May 11, 2023, 4:06 p.m. Published Nov 22, 2021, 2:36 p.m.
Mining infrastructure firm GRIID has secured a $525 million credit facility from the cryptocurrency exchange and wallet provider Blockchain.com.
- Cincinnati, Ohio-based GRIID said the four-year term credit facility will be used to bring on additional mining capacity, taking advantage of over 1,300 megawatts of available power from existing energy generation partners.
- In May, Blockchain.com acquired Artificial Intelligence Exchange (AiX) and in March the firm reportedly raised $300 million in Series C funding led by partners of DST Global, Lightspeed Venture Partners and VY Capital in a funding round that valued the company at $5.2 billion.
Read more: Bitcoin Mining: Wasted Energy or a Better, Greener System?
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