Currency

GRIID Granted $525 Million in Facility Credit From Blockchain.com


November 26, 2021

Bitcoin self-mining company GRIID Infrastructure revealed a new partnership extension with Blockchain.com, with GRIID securing a four-year, $525 million line of facility credit to expand its capabilities.

Crypto mining is a necessary element for digital asset companies, but its success depends upon serious amounts of energy and expensive hardware. GRIID Infrastructure specializes in creating affordable, carbon-free bitcoin mining operations to make mining more efficient and environmentally friendly.

With this new line of credit, GRIID will further scale operations, increase capacity, and make mining processes more energy efficient.

“For the past two years we’ve worked closely with GRIID to not just provide capital, but to be a partner invested in the growth of the business,” said Peter Smith, Blockchain.com CEO. “It’s incredible to see their trajectory and we are confident that GRIID is well positioned to become a dominant U.S. based bitcoin miner. We’re excited to continue to partner with them to grow their company and the industry in the coming years.”

Blockchain.com is recognized as a pioneer into the crypto world, and is a notable capital investor for a number of crypto-related companies looking to expand capabilities. The organization’s Institutional Markets team has originated roughly $5 billion worth of loans since 2017, in order to improve the complex processes behind  buying,selling, and trading digital currencies.

“Blockchain.com is an established leader in the digital asset space with unique knowledge into every aspect of the crypto ecosystem, including mining operations,” said Trey Kelly, GRIID Founder and CEO. “Blockchain.com is an ideal capital partner as we strengthen our infrastructure and operations across our growing portfolio of bitcoin mining facilities.”

 Join The Blockchain Event In Fort Lauderdale, Florida from February 8-11 to hear from industry experts about how blockchain solutions will forever alter the future business landscape.




Edited by Erik Linask

Share this Page
HOME


FEATURED RESOURCE


Social media is impacting the value of your cryptocurrency. This cross-platform audit will show how to improve consumer and influencer sentiment.

CONTACT US