Today, ten31a leading global investor in bitcoin technology, has announced the Nasdaq Global Market listing of its portfolio company. GRIID Infrastructure. This is the first public listing of a bitcoin-focused investment fund portfolio company, according to a press release sent to bitcoin Magazine.
GRIID, a uniquely positioned, vertically integrated bitcoin mining and energy infrastructure company, has successfully navigated the lengthy regulatory review process to achieve this. public listing. Ten31, which served as GRIID's exclusive institutional capital partner, invested through its second institutional venture fund, Low Time Preference Fund II, underscoring its commitment to supporting innovative companies in the bitcoin technology and freedom space. .
“As a vertically integrated operator built specifically for bitcoin mining from day one, GRIID is uniquely positioned to become one of the world's leading bitcoin mining companies,” said Trey Kelly, founder and CEO of GRIID. . “We believe that listing on Nasdaq will improve our visibility, liquidity and expand our investor base as we continue to strengthen our position in the market and reinforce our commitment to delivering value to shareholders. Ten31's capital support and strategic guidance were invaluable in helping us reach this milestone. “We firmly believe that there is no better partner or investor in the bitcoin space than Ten31, and we look forward to continuing our close partnership.”
Along with achieving GRIID listing, Ten31 welcomes Harry Sudock, Chief Strategy Officer at GRIID, as an advisor while maintaining his role at GRIID. Sudock, a leading figure in bitcoin mining and energy infrastructure, brings valuable experience to Ten31's advisory team.
“After many years building a bitcoin company, I know firsthand the crucial value of equity partners who share our understanding of bitcoin and offer proven institutional investment expertise. “They embody the proof-of-work spirit of bitcoin in everything they do,” Sudock said. “I hope that GRIID will be the first of many success stories to emerge from Ten31's portfolio, and I am excited to help support Ten31 as it invests in the best companies in the rapidly evolving bitcoin ecosystem while also serving as a resource for both portfolio companies. and its founders.”
This development aligns with the launch of Ten31's third institutional fund, Low Time Preference Fund III, securing anchor commitments and strengthening its position as a leading investor in bitcoin technology. Additionally, the Ten31 Tactical Fund aims to provide access to accredited individual investors, offering more opportunities to participate in the rapidly evolving bitcoin ecosystem.
Ten31's commitment to supporting bitcoin extends beyond investing in companies as it continues to allocate funds for open source development within the bitcoin ecosystem. The fund has granted support to an independent bitcoin developer street for his work on Chaumian ecash powered by bitcoin. Ten31 is the most active investor in open source businesses in the bitcoin ecosystem and was a founding contributor to a public charity. OpenSats in 2021, supporting a variety of open source efforts with no strings attached.
