💪 CleanSpark Broadens Its Footprint

CleanSpark, a mining company, is acquiring the U.S.-based infrastructure firm GRIID for $155 million. The boards of both companies have approved the deal, which now requires the nod from other shareholders and regulatory bodies. 

🛑 The acquisition is expected to be finalized by the third quarter of 2024.

📎 In this deal, CleanSpark will take on all of GRIID's debt obligations and provide a $5 million credit facility as well as a short-term loan of $50.9 million. 

If the deal goes through, CleanSpark aims to boost its capacity in Tennessee to 200 MW next year and surpass 400 MW by 2026.

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