Bullboard - Stock Discussion Forum Griid Infrastructure Ord Shs GRDI

Alternate Symbol(s): N.GRDI

Griid Infrastructure Inc. is a bitcoin mining company engaged in operating bitcoin mining facilities. The Company operates a research and development center in Austin, Texas and a development, deployment and equipment repair center in Rutledge, Tennessee. It maintains mining facilities in Watertown, New York; Limestone, Maynardville and Lenoir City, Tennessee. It owns and operates a growing... see more

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NDAQ:GRDI - Post Discussion

Griid Infrastructure Ord Shs > Not looking good...

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Post by TriumphSpitSix on Jun 13, 2024 4:43pm

Not looking good...

$114M total deficit

Ridiculously high $67.8k breakeven price on BTC mining expenses (underwater today with BTC at $66.7k) Seems those energy agreements in TVA territory haven't made much difference in their overall mining costs. Their break even price was only $41.5k in Dec 2023, so have risen by over 60%!

Share price has been consistently under $1.00 since April 29th, so they will be receiving or have already received a delisting notice from Nasdaq by now.

Looks like this gamble was a loser.

Silver lining: Maybe they get acquired?

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Comment by goldboyz2 on Jun 14, 2024 1:54pm

Good thing Bitcoin is about to head upwards to 90k. Would love to see a juicy NR here soon with a company update. They announced big plans to double capacity months ago. I'd think all the ducks have been lined up for this bitcoin move. GLTA GB

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Comment by TriumphSpitSix on Jun 17, 2024 5:15pm

Historically, Bitcoin has made its parabolic run AFTER miner capitulation from the block rewards reduction post-halving. Miners hang on and sell BTC as long as they can, hence the current price decline. But with Griid's very high per-coin costs (still underwater today) they are clearly in the "at risk" group of miners who may fold... or what I'm seeing as best-case scenario now, ...more

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