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Bitcoin Miner GRIID Shares Extend Drop After Nasdaq Listing

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. Shortly after its Nasdaq debut on Monday, GRIID shares were trading at around $7.30, down around 24% against its opening price of $9.66. GRDI closed the day down 43% or $5.47 per share. The listing comes after the company first announced its intention to go public during the bull market of 2021 when the combined enterprise value of the two companies was $3.3 billion. 

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