griid infrastructure investor presentation
These statements express a belief, expectation announce that less than a year since our IPO, $ADEX has signed a definitive agreement with what I believe to be an exceptional carbon-free bitcoin mining company: GRIID Infrastructure. the combined company is expected to operate under the name GRIID For investor inquiries regarding Adit EdTech and affiliates, please contact: John J. DAgostinoChief Financial Officerdagostino@aditedtech.com. Plus500. Related Link: 7 SPACs To Play The Rise Of Bitcoin, Cryptocurrency Stocks. Bitcoin mining startup GRIID has inked a deal with the world's largest chipmaker, Intel, to mine Bitcoin using energy-efficient methods, FOX Business has learned. Have a question? This makes it more efficient than, The second-gen Intel miner doesn't beat out, It is unclear whether Intel will be selling exactly the same mining rigs to all of its customers. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. release and investor presentation. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 15, 2021. transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among public Bitcoin miners at the lowest cost of scaled production, Griid CEO Trey Kelly said. 2 Legal Disclaimer This presentation (the "presentation") has been prepared for use by Good Works Acquisition Corp. ("Good Works") and Cipher Mining Technologies Inc. ("Cipher" or the "Company") in connection with their proposed business . Such statements are not guarantees of future performance and actual Adit EdTechs strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i)an attractive valuation entry point, (ii)a. clear plan to unlock incremental value through operational and/or strategic improvements and (iii)a clear path to bring the target company to the public market and implement best-in-class public company governance. prior to registration or qualification under the securities laws of such state or jurisdiction. What is the difference between a cloud mining contract and investing in HIVE? Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining facilities across the United States. The deal values Griid at an enterprise value of $3.3 billion. GRIIDs existing management team, led by President and GRIID supports the growth of carbon-free energy generation by procuring low-cost energy to build, manage, and operate its portfolio of vertically integrated bitcoin mining facilities. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i)the risk that the transaction may not be completed in a timely manner Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, potential, predict, seek, should, would or by variations of such words or by similar expressions. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. The $246 million of anticipated net transaction proceeds, assuming no redemptions, and an existing $525 million credit facility will be used to fund GRIID's growth and accelerate scale. GRIID anticipates fiscal year 2023 revenue of $1.6 billion. otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. Leasing hash is finite and non-transferrable. events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, internal and wireless security testing and assessment. (Adit EdTech) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (Adit), announced today that they have entered into a definitive merger agreement under The company uses low-cost energy to operate its portfolio with a focus on carbon-free energy generation. sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful Download a PDF copy of our corporate presentation. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Be a smarter, safer investor in eight weeks. Adit EdTech intends to file a proxy statement with the SEC. Public ADEX shareholders will own 9% of the combined company. This communication may More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. The small Ohio-based GRIID is. . Griid Infrastructure LLC ("GRIID") is a profitable, vertically integrated bitcoin self-mining company with three US-based facilities and planned mining capacity of 734 megawatts (MW) operational by 2023 with a power cost of less than $25/MWh. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. The merger between GRIID and Adit EdTech Acquisition Corp. ("ADEX") represents a pro forma combined company enterprise value of approximately $3.3 billion. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to investments that create positive change. The Company holds it digital currencies in cold storage solutions not connected to the internet. Griid Infrastructure LLC (GRIID) is a profitable, vertically integrated bitcoin self-mining company Adit EdTech is a publicly listed special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The $246 million of anticipated net transaction proceeds, assuming no redemptions, and an existing $525 million credit facility will be used to fund GRIIDs growth and accelerate scale. Covington& Burling LLP acted as legal advisor to Adit EdTech. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. or at all, which may adversely affect the price of Adit EdTechs securities, (ii)the risk that the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an which may be volatile due to a variety of factors, including changes in the competitive and regulated] industries in which Adit EdTech plans to operate or GRIID operates, variations in operating performance across competitors, changes in laws and results or developments may differ materially from those projected in the forward-looking statements. HIVE owns state-of-the-art green energy-powered data centrefacilities in Canada, Sweden and Iceland, which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the "SEC") and will be available at www.sec.gov. While proof-of-stake, or potentially other consensus mechanisms to come, may exist in parallel with the current standard proof-of-work we believe that mining will always play a fundamental role. This allows us to easily detect problematic rigs, and prevent overheating or hash rate drops, keeping maintenance costs to a minimum. Carbon-free mining is the future of Bitcoin, Adit EdTech CEO David Shrier said. Adit EdTech Acquisition Corp. Covington & Burling LLP acted as legal advisor to Adit EdTech. SEC). the securities laws of such state or jurisdiction. Adit Ventures is an investment adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. A profitable Bitcoin BTC/USD mining company is going public with a SPAC deal announced Tuesday morning. Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020, and other filings made with the SEC and that are available on the SECs website at Public markets are a huge untapped opportunity to finance the growth of the blockchain sector and HIVE. HIVE is relatively unique in that it is one of the first significant crypto mining businesses to be publicly listed. adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. Nov. 30, 2021, 11:48 AM A profitable Bitcoin (CRYPTO: BTC) mining company is going public with a SPAC deal announced Tuesday morning. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through A proxy statement will be sent to all Adit EdTech GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. To learn more, visit griid.com. 3,516 Number of Organizations $20.3B Total Funding Amount 876 Number of Investors. Description. Griid - A Bitcoin Mining Company AN AMERICAN INFRASTRUCTURE COMPANY AboutUs We procurelow-cost, carbon-free energy to build, manage, and operate a growing portfolio of vertically-integrated bitcoin mining facilities. Troutman Pepper Hamilton Sanders LLP acted as legal advisor to GRIID. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 Growth Ahead: Transaction proceeds from going public are expected to help fund the companys growth plans. ", Eric Munson, Adit's founder and Managing Partner, said, "GRIID's focus on utilizing next generation computing power for more efficient clean power utilization and grid management demonstrates the broader economic potential of green infrastructure.". What financial advisors need to know about crypto. Transfers Listing to NYSE American LLC, Adit EdTech Acquisition Corp. The foregoing list of factors is not exhaustive. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the SEC) and will be available at www.sec.gov. Based in Cincinnati, Ohio, GRIID is a profitable, vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would" or by variations of such words or by similar expressions. Your weekly wrap of Web3 news and trends. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and the receipt of certain governmental and regulatory approvals, (iv)the lack of a third party valuation in A proxy statement will be sent to all Adit EdTech stockholders. design, intend, expect, could, plan, potential, predict, seek, should, would or by variations of such words or by similar price, (vii)risks that the proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. GRIIDs combination of a large Based in Cincinnati, Ohio, GRIID is a profitable, new information, future events or otherwise. The actual results or developments anticipated may not be realized or, even if Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. According the company's website, the organization says that they "procure low-cost, carbon-free energy to build, manage, and operate a growing portfolio of vertically-integrated bitcoin mining facilities." For full information, investors should refer to the risk disclosures filed under HIVEs most recent MD&A, which are filed under HIVEs SEDAR profile, and its September 2017 Filing Statement. Arthur D. Little LLC acted as advisor to Adit EdTech for technical and commercial due diligence. Terms of Use. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. The largest inputs to mining are electricity costs and hardware. GRIID's existing management team, led by President and CEO Trey Kelly, will continue to lead the business. extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and The capital markets have very few options for investors to participate in the blockchain sector, and HIVE provides a unique opportunity to do so. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. 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