Shares of bitcoin mining company GRIID Infrastructure (GRDI) extended their drop into the second day after the Cincinnati, Ohio-based firm completed its listing on Nasdaq this week following its merger with a special purpose acquisition company (SPAC) Adit EdTech Acquisition Corp.
The miners, considered a proxy for bitcoin as their revenue is mainly based on the digital currency they mine, were hit particularly hard during the recent crypto winter. GRIID delayed its public listing during the bear market and was finally able to go public this year as the digital assets industry came out of the bear market.
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