GRIID Mining Company Secures $525 Million Credit Facility from Blockchain.com

The Cincinnati, Ohio-based mining company GRIID opened a $525 million credit line with the cryptocurrency exchange and wallet provider Blockchain.com to expand its cryptocurrency mining operations.

The term of the agreement was four years.

GRIID currently has 1,300 MW of unused capacity.

According to CEO Trey Kelly, Blockchain.com has proven to be an ideal partner for the initiative. The press release notes that, since 2017, the volume of loans issued by the platform has reached $5 billion.

In November, Celsius Network announced investments of $300 million in bitcoin mining. Earlier, the firm allocated $200 million for these purposes.

In August, Blockchain.com considered an IPO in 2023.

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