Bitcoin Mining Company Griid Secures $525 Million Credit Facility From – Mining Bitcoin News

Griid Infrastructure, a mining company, announced Monday that it has obtained a credit facility of $525 million from According to the announcement, the credit facility will be a four-year term in order to increase the company’s mining capacity. helps Bitcoin Mining Infrastructure firm to increase its capacity

Millions of dollars have been invested in cryptocurrency mining (and specifically Bitcoin (BTC) miner), over the course of this year. Many enterprises have made huge deals for thousands with ASIC device manufacturers, such as Bitmain and Canaan. Some of the largest bitcoin miners have started building new facilities to improve their capacities.

Griid Infrastructure revealed that they have secured $525million credit from The financing will be used to increase mining capacity as well as “capitalizing on over 1,300 megawatts of available power from existing energy generation partners.” According to the announcement,’s Institutional Markets team has crafted some of the largest credit facilities in the market.

“ is an established leader in the digital asset space with unique knowledge into every aspect of the crypto ecosystem, including mining operations,” Trey Kelly, Griid’s CEO and founder explained in a statement. “ is an ideal capital partner as we strengthen our infrastructure and operations across our growing portfolio of bitcoin mining facilities,” the mining company’s CEO added.

Griid is an American crypto mining infrastructure company that calls itself a “vertically-integrated bitcoin self-mining company.” The firm operates a portfolio of bitcoin mining data centers across the United States.’s CEO Peter Smith explains that the company has worked with Griid for quite some time.

“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,” Smith said during the announcement.’s deal with Griid follows the company raising $300 million at the end of March, increasing its valuation to $5.2 billion.

In May, the crypto firm acquired an AI company called Artificial Intelligence Exchange and last August,’s CFO hinted at the company going public in 18 months. Macrina Kil, CEO explained that the company was holding ETH and BTC in its balance sheets.

In this story, tags
Bitcoin Mining Industry, CEO CEO Bitcoin Mining BTC Mining BTC Mining industry credit facility Griid Griid CEO Griid founders increase mining capacity Mining Devices Peter Smith Trey Kelly

How do you feel about Griid receiving a credit facility of $525 million from for its crypto company? Comment below and let us know how you feel about the subject.

Image creditShutterstock. Pixabay. Wiki Commons

DisclaimerThis article serves informational purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused by the content or use of any goods, services, or information mentioned in the article.

Get more Crypto News at CFX Magazine