It’s official: Cincinnati startup valued at $3.3B, plans to go public

Days after an initial report, Griid Infrastructure has confirmed plans to go public, with the Cincinnati-based bitcoin mining startup valued at $3.3 billion.

On Tuesday, the three-year-old startup launched by Miami University alum Trey Kelly confirmed plans to merge with Adit EdTech Acquisition Corp., a special purpose acquisition company, or SPAC. The confirmation comes roughly a week after Bloomberg first reported on the talks.

The deal values Griid at $3.3 billion, with the company set to bring in $1.6 billion in 2023 revenue.

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Story excerpt provided by Cincy Inno.

Written by Meg Erpenbeck.

Originally published November 30, 2021.