CleanSpark: Acquiring GRIID Is Positive Amid Industry Consolidation

Hispanolistic CleanSpark's (NASDAQ:NASDAQ:CLSK) announcement on June 27 to acquire non-profitable and indebted Bitcoin (BTC-USD) miner GRIID Infrastructure (NASDAQ:OTCPK:GRDI) for an enterprise value of $155 million may seem on the high side. However, as seen in the year-to-date price action below, while GRIID's shares surged as for a typical M&A, CleanSpark dipped only slightly before recouping its losses hinting that investors are not too worried about the transaction. Comparing the price action of CleanS ...