Mining Infrastructure Firm GRIID Secures $525M Credit From Blockchain.com

Mining infrastructure firm GRIID has secured a $525 million credit facility from the cryptocurrency exchange and wallet provider Blockchain.com.

Cincinnati, Ohio-based GRIID said the four-year term credit facility will be used to bring on additional mining capacity, taking advantage of over 1,300 megawatts of available power from existing energy generation partners.In May, Blockchain.com acquired Artificial Intelligence Exchange (AiX) and in March the firm reportedly raised $300 million in Series C funding led by partners of DST Global, Lightspeed Venture Partners and VY Capital in a funding round that valued the company at $5.2 billion.

Read more: Bitcoin Mining: Wasted Energy or a Better, Greener System?

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