CleanSpark to acquire GRIID Infrastructure in ~$155M stock-for-stock merger

CLEANSPARK, INC.

Aggregate consideration of ~$155M minus GRIID net debt; closing expected by March 31, 2025, subject to shareholder and regulatory approvals.
CleanSpark provides $55.9M senior secured term loan to GRIID at 8.5% interest, maturing June 2025 or 90 days after deal termination.
Colocation hosting agreement: CleanSpark will host mining equipment at GRIID facilities; initial 1-year term with auto-renewal; $1M refundable deposit.
Voting agreements with Griid Holdings (42.34%) and Adit EdTech (9.78%) securing ~52% of GRIID shares to vote in favor.

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