Ten31 Announces Public Listing of Bitcoin Mining Company GRIID on Nasdaq
Key Points:
– Ten31, a leading bitcoin technology investor, has announced the public listing of its portfolio company GRIID Infrastructure on the Nasdaq Global Market stock exchange.
– GRIID is a vertically integrated bitcoin mining and energy infrastructure company that has successfully completed the regulatory review process.
– Ten31’s investment in GRIID highlights its commitment to supporting innovative ventures in the bitcoin and freedom technology space.
– GRIID Founder and CEO Trey Kelly believes that listing on Nasdaq will enhance the company’s visibility, liquidity, and investor base.
– Harry Sudock, GRIID’s Chief Strategy Officer, joins Ten31 as an Advisor, bringing valuable expertise in bitcoin mining and energy infrastructure.
– Ten31’s launch of Low Time Preference Fund III fortifies its position as a leading bitcoin tech investor.
– Ten31 continues its support for the bitcoin ecosystem through open-source development funding, including a grant to independent bitcoin developer calle for his work on bitcoin-powered Chaumian ecash.
Article:
Ten31, a global leader in bitcoin technology investing, has made an exciting announcement regarding its portfolio company, GRIID Infrastructure. Today, Ten31 revealed that GRIID has become the first bitcoin-focused investment fund’s portfolio company to be publicly listed on the Nasdaq Global Market stock exchange.
GRIID Infrastructure is a vertically integrated bitcoin mining and energy infrastructure company that has successfully cleared the regulatory review process, allowing it to achieve this historic public listing. Ten31 has played a crucial role as GRIID’s exclusive institutional capital partner, making investments through its second institutional venture fund, Low Time Preference Fund II. This partnership showcases Ten31’s dedication to supporting innovative and groundbreaking ventures in the bitcoin and freedom technology sphere.
According to GRIID Founder and CEO Trey Kelly, being a vertically integrated operator specializing in bitcoin mining from the outset gives GRIID a distinct advantage in becoming one of the leading bitcoin mining companies globally. By listing on the Nasdaq exchange, GRIID aims to enhance its visibility, liquidity, and investor base. Kelly also acknowledges the instrumental role played by Ten31 in helping the company reach this significant milestone. He describes Ten31 as the perfect partner and investor in the bitcoin space and looks forward to the continued collaboration between the two entities.
Additionally, Ten31 welcomes Harry Sudock, Chief Strategy Officer at GRIID, as an Advisor while he retains his role at the company. Sudock is a prominent figure in the bitcoin mining and energy infrastructure sector, and his expertise will undoubtedly be a valuable asset to Ten31’s advisory team.
Sudock emphasizes the importance of capital partners who not only share an understanding of bitcoin but also possess proven institutional investment expertise. He commends Ten31 for embodying bitcoin’s proof-of-work ethos in all their endeavors. Sudock predicts that GRIID will be the first of many success stories to emerge from Ten31’s portfolio, and he is excited to support Ten31 as they invest in the best companies within the rapidly evolving bitcoin ecosystem while providing resources to portfolio companies and their founders.
Parallel to the achievement of GRIID’s listing, Ten31 has also announced the launch of its third institutional fund, the Low Time Preference Fund III. This launch consolidates Ten31’s position as a leading investor in bitcoin technology and paves the way for further participation and investments in the ever-evolving bitcoin ecosystem. The Tactical Fund, another offering from Ten31, seeks to provide opportunities for individual accredited investors to get involved in the bitcoin space.
Ten31’s commitment to supporting Bitcoin extends beyond investing in companies. The fund actively allocates resources to open-source development within the bitcoin ecosystem. One recent example of this is Ten31’s grant to independent bitcoin developer calle for his work on bitcoin-powered Chaumian ecash. Ten31, with its devotion to open source, remains the most active investor in open-source businesses in the bitcoin ecosystem. Moreover, the fund was a founding contributor to the public charity OpenSats in 2021, providing support to various open-source initiatives on a no-strings-attached basis.
Hot Take: Ten31’s Bitcoin Focus Continues to Pay Off
The public listing of GRIID Infrastructure on the Nasdaq Global Market is a monumental achievement for Ten31 and the bitcoin industry as a whole. This move demonstrates Ten31’s unwavering commitment to supporting and promoting innovative ventures in the bitcoin and freedom technology space. By providing strategic guidance and capital support to GRIID, Ten31 has played a key role in enabling GRIID to solidify its position as one of the leading bitcoin mining companies worldwide.
Additionally, Ten31’s continuous investment in open-source development and its grant to independent bitcoin developer calle highlight the fund’s dedication to the growth and advancement of the bitcoin ecosystem. Ten31’s active involvement in open-source businesses and initiatives sets it apart as a frontrunner in the industry, further solidifying its position as a trusted and influential bitcoin technology investor.
As Ten31 launches its third institutional fund and expands its offerings to individual accredited investors, the fund’s impact in the bitcoin space is set to grow even further. With a proven track record and a commitment to supporting the best companies in the rapidly evolving bitcoin ecosystem, Ten31 remains at the forefront of the industry, driving innovation and pushing the boundaries of what is possible with bitcoin technology.
