CLSK - Why Bitcoin Mining Stock Griid Infrastructure Shares Are Tumbling Today | Benzinga
Griid Infrastructure Inc. (NASDAQ:GRDI) shares are trading lower after it inked a definitive merger deal with CleanSpark, Inc. (NASDAQ:CLSK) for a total enterprise value, including payment and assumption of debt, of $155 million.
GRIID Infrastructure, a purpose-built bitcoin mining company founded in 2018, has operated bitcoin mining facilities since 2019.
As per the merger agreement, Griid stockholders will receive CleanSpark common stock based on an exchange ratio determined by dividing the total merger consideration by the number of Griid shares outstanding at closing.
The total merger consideration is calculated as $155 million minus Griid’s net liabilities ...