Bitcoin Miner GRIID Goes Live on Nasdaq Under “GRDI” Symbol
In a recent report, GRIID Infrastructure’s newly launched mining division announced plans to go live on the Nasdaq under the symbol “GRDI.” The announcement indicated that the mining company warrant will be listed on Nasdaq under GRDIW.
The listing on Nasdaq aims to enable GRIID to navigate the upcoming Bitcoin halving that will limit inflation pressure on the Bitcoin ecosystem.
GRIID Completes Nasdaq Listing Requirements
In 2019, the American infrastructure company launched the Bitcoin mining facility to expand its product offering and meet the growing demand for BTC. Establishing the Bitcoin mining facility demonstrated GRIID’s commitment to supporting the adoption of BTC.
With the dynamism in the crypto industry, the GRIID invested heavily in establishing the mining division. A review of the GRIID mining facility operation demonstrated that the crypto miner invested in decarbonizing the mining activities to reduce the emission of greenhouse gasses.
Correspondingly, the GRIID team combined electric power with renewable sources to reduce operational costs and foster environmentally friendly practices. The shift to green power enabled the GRIID to establish a self-mining setup that automates of Bitcoin mining processes.
GRIID Listed on Nasdaq
According to the report, the GRIID team admitted that integrating emerging technologies into its mining facility enabled the firm to maximize returns. A statement from GRIID chief executive Trey Kelly revealed that the Nasdaq listing marked a significant milestone for the mining company in trading in the US market.
The CEO projects that the Nasdaq listing will enable the company to expand its market presence in the United States. Earlier, the GRIID was listed on the Canadian Chicago Board Options Exchange (CBOE) under the ticker symbol GRDI.
The launching of CBOE enabled GRIID to tap the endless benefits of public listing. In an interview, the company stated that the CBOE listing enabled GRIID to access adequate capital and liquidity.
The successful listing on CBOE challenged GRIID to broaden its geographical presence in the US. To attract the desired customer base, the CEO believes that the listing on the Nasdaq will improve GRIID’s visibility and create more viable opportunities for the firm.
The executive stated that the company has sought to solidify the GRIID market position for years. This forced the infrastructure development firm to explore viable opportunities to increase shareholder value extensively.
Bitcoin Miner Explores Ways to Maximize Profits
Besides the efforts to gain a competitive edge in the tech, GRIID has actively worked on improving customer relations. Kelly expressed optimism that the ongoing development of GRIID will enable the company to expand its customer base.
The executive confessed that GRIID maintains well-organized management and administrative practices that support the growth of a “vertically integrated Bitcoin mining facility.”
Kelly added that the GRIID leadership team has remained at the forefront of promoting eco-friendly Bitcoin mining practices. The CEO recognized the exemplary contribution made by the GRIID investors, partners, employees and team members in steering the business in a direction that draws success.
The CEO projects numerous unrealized opportunities that GRIID will explore in the future. Kelly described the listing on GRIID marked the beginning of a new chapter. She believes that more opportunities will be presented in the future.
Overview of Current Development on Bitcoin Ecosystem
The executive stated that the listing on the Nasdaq demonstrated GRIID’s commitment to comply with the existing regulations. For years, the Nasdaq public listing process requires the applicant to comply with requirements and undergo a thorough review process.
Therefore GRIID listing on Nasdaq will showcase the company unique leadership approach to the global customers. Also, CEO anticipates that the Nasdaq listing will drive innovation within the organization.
The executive noted that the GRIID listing came at the appropriate time when Bitcoin has experienced exponential growth. Report indicates that Bitcoin ecosystem has attained the desired growth rate ahead of the upcoming bull market.
In readiness for the upcoming Bitcoin Halving, crypto firms and miners have invested in upgrading infrastructure to take advantage of the bull market. The GRIID team vowed to remain committed to Bitcoin mining.
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