GRIID Infrastructure Announces Plans to Double Capacity of Lenoir City, Tenn. Bitcoin Mining Operations
GRIID Infrastructure Inc. (GRDI)
Company Research
Source: GlobeNewswire
CINCINNATI, Feb. 14, 2024 (GLOBE NEWSWIRE) -- GRIID Infrastructure Inc. (Nasdaq: GRDI) (“GRIID” or the “company”), a vertically integrated bitcoin mining operator, announced plans to double the capacity of its bitcoin mining operations in Lenoir City, Tenn. from 20 MW to 40 MW in mid-2024 by adding a new site expected to power approximately 6,500 machines. “We’re focused on building our growth and expanding our capacity by moving sites like this from our power pipeline to production,” said Trey Kelly, CEO of GRIID. “We’re especially pleased to be expanding our footprint in the Tennessee Valley, where the Tennessee Valley Authority’s (TVA) mix of affordable, reliable and low-carbon electricity has made this area an excellent long-term location to mine bitcoin.” “GRIID has been a good neighbor, and we’re excited to see them expand their operations in Lenoir City,” said the city’s mayor, Tony Aikens. “Bitcoin has been a net benefit for the city and for our state, generating tax rec
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