grid infrastructure Inc. (Nasdaq: GRDI) (“GRIID” or the “Firm”), a vertically built-in Bitcoin mining operator, will double the capability of its Bitcoin mining operations in Lenoir Metropolis, Tennessee from 20 MW to 40 MW over the medium time period. introduced a plan to – Expects so as to add new websites in 2024, powering roughly 6,500 machines.

“We’re targeted on constructing progress and increasing capability by shifting these websites from the ability pipeline to the manufacturing flooring,” stated GRIID CEO Trey Kelly. Masu. “We’re significantly happy to develop our footprint within the Tennessee Valley. The Tennessee Valley Authority’s (TVA) mixture of reasonably priced, dependable, low-carbon energy makes this area a long-term alternative for Bitcoin mining. It's the proper place for that.”

“GRIID is an efficient neighbor and we’re excited to see them develop in Lenoir Metropolis,” stated Lenoir Mayor Tony Aikens. “Bitcoin has been a web profit to our metropolis and state, producing tax income and good jobs. We look ahead to having GRIID as our neighbor for a few years to come back.”

Lenoir Metropolis Public Utilities Fee CEO Shannon Littleton echoed related sentiments. “Having a dependable buyer like GRIID permits us to proceed working our public energy crops that may in any other case face challenges,” Littleton stated. “Infrastructure prices are additionally paid for, however it’s often a burden borne solely by native ratepayers. They’ve little alternative however to fill the hole by discovering extra prospects like .

GRIID operates two different mining amenities in East Tennessee, one in Maynardville and one in Limestone, in addition to a improvement, deployment and gear restore middle in Rutledge. GRIID additionally operates a facility co-located with Glen Park Dam in Watertown, New York.

In complete, GRIID operates 68 MW of mining capability (55 MW in Tennessee). The corporate introduced on February sixth, introduced The corporate plans to construct a brand new 60MW mining facility in Jackson, Tennessee. When the brand new amenities in Jackson Metropolis and Lenoir Metropolis are totally operational, GRIID's mining capability will probably be almost 150 MW, greater than doubling its present capability and representing its continued dedication to progress within the Tennessee Valley. Masu.