CleanSpark Inc., a Bitcoin mining company, has announced a merger with GRIID Infrastructure Inc., valued at $155 million in an all-stock transaction. This strategic acquisition is expected to enhance CleanSpark's capabilities significantly through an exclusive hosting agreement with GRIID.

The agreement includes an immediate allocation of 20 megawatts to CleanSpark, boosting its operational capacity. GRIID also operates an R&D center in Texas and an equipment repair facility in Tennessee, further expanding CleanSpark's infrastructure and technical support capabilities.

This merger marks a significant step in CleanSpark's growth strategy, positioning it for greater efficiency and scalability in the competitive Bitcoin mining industry.