Troutman Pepper advised GRIID Infrastructure, a purpose-built American infrastructure company operating bitcoin mining facilities, in its acquisition by CleanSpark, Inc. for $155 million. Read a company press release about the combination.
The acquisition represents a significant strategic advancement for CleanSpark, enhancing its operational capabilities and market presence. This merger not only expands CleanSpark’s bitcoin mining capacity in Tennessee, but also diversifies its geographic and power supply portfolio within the Tennessee Valley Authority service territory.
The Troutman Pepper team advising GRIID Infrastructure was led by Patrick Costello, and included partners Joe Walsh and Steven Khadavi, as well as associates Danilo Castelli, Karina Miranda, and DJ Griffin. The team also included partners Thomas Gray, Thomas Phelan, and associate Raina Bora; partners Tim Mast, Douglass Herrmann; Partner Justin Wood, and associates Suzanne Soboeiro, and Phillip Chason; Partner Jeffrey Banish, and associate Christopher Stock; and Counsel Jessica X.Y. Rothenberg.