At the moment, Ten31, a number one investor in bitcoin expertise, introduced the itemizing on the Nasdaq World Market of its portfolio firm GRIID Infrastructure. This marks the primary public itemizing for the portfolio firm of a bitcoin-focused funding fund, in response to a press launch despatched to Bitcoin Journal.
GRIID, a uniquely positioned, vertically built-in bitcoin mining and power infrastructure firm, has efficiently accomplished the prolonged regulatory course of to realize this public itemizing. Ten31, which has served as GRIID’s unique institutional capital associate, invested by way of its second institutional enterprise fund, Low Time Choice Fund II, underscoring its dedication to backing progressive ventures within the bitcoin and freedom expertise house.
“As a vertically built-in operator purpose-built for bitcoin mining from day one, GRIID is uniquely positioned to grow to be one of many main bitcoin mining firms on this planet,” stated Trey Kelly, Founder and CEO of GRIID. “We consider that itemizing on Nasdaq will improve our visibility and liquidity and broaden our investor base as we proceed to strengthen our market place and strengthen our dedication to delivering shareholder worth. Ten31’s capital assist and strategic steerage have been invaluable in serving to us obtain this milestone. We strongly consider that there isn’t a higher associate or investor within the bitcoin house than Ten31, and we stay up for persevering with our shut collaboration.”
Along with GRIID’s inventory change itemizing, Ten31 welcomes Harry Sudock, Chief Technique Officer of GRIID, as an advisor, whereas he retains his position at GRIID. Sudock, a outstanding determine in bitcoin mining and power infrastructure, brings priceless experience to Ten31’s advisory group.
“Having spent a few years constructing a bitcoin enterprise, I do know firsthand the crucial worth of capital companions who each share our understanding of bitcoin and supply confirmed institutional funding experience. They embody the testomony to Bitcoin’s work ethic in all the pieces they do,” stated Sudock. “I anticipate GRIID to be the primary of many success tales to emerge from the Ten31 portfolio, and I’m excited to assist assist Ten31 because it invests in the most effective firms within the quickly evolving bitcoin ecosystem whereas serving as a useful resource for each portfolio firms. and their founders.”
This growth coincides with the launch of Ten31’s third institutional fund, Low Time Choice Fund III, securing anchor commitments and strengthening its place as a number one investor in bitcoin expertise. Moreover, Ten31’s Tactical Fund goals to supply entry to particular person accredited buyers, offering additional alternatives for participation within the quickly evolving bitcoin ecosystem.
Ten31’s dedication to supporting Bitcoin goes past simply investing in firms, because it continues to commit funds to open supply growth inside the Bitcoin ecosystem. The fund has backed impartial bitcoin developer Calle for its work on the bitcoin-powered Chaumian ecash. Ten31 is probably the most energetic investor in open supply firms within the bitcoin ecosystem and was a founding member of the general public charity OpenSats in 2021, supporting a wide range of open supply efforts on a no-obligation foundation.