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Ten31 Marks First Public Listing for Bitcoin-Focused Venture Fund With BTC Miner GRIID

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  • February 10, 2024

Today, Ten31, a world leading bitcoin technology investor, has announced the Nasdaq Global Market stock exchange listing of its portfolio company, GRIID Infrastructure. This marks the first public listing for a bitcoin-focused investment fund’s 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 long regulatory review process to achieve this public listing. Ten31, having 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 ventures in the bitcoin and freedom technology space.

“As a vertically integrated operator, purpose-built for bitcoin mining from day one, GRIID is uniquely positioned to become one of the leading bitcoin mining companies in the world,” said Trey Kelly, Founder and CEO of GRIID. “We believe that listing on Nasdaq will enhance our visibility, liquidity, and broaden our investor base as we continue to strengthen our market position and reinforce our commitment to delivering shareholder value. Ten31’s capital support and strategic guidance were invaluable in helping us reach this milestone. We feel strongly that there is no better partner or investor in the bitcoin space than Ten31, and we look forward to continuing our close partnership.”

In conjunction with GRIID’s listing achievement, Ten31 welcomes Harry Sudock, GRIID’s Chief Strategy Officer, as an Advisor while maintaining his role at GRIID. Sudock, a prominent figure in bitcoin mining and energy infrastructure, brings valuable expertise to Ten31’s advisory team.

“After many years building a bitcoin company, I know firsthand the crucial value of capital partners that both share our understanding of bitcoin and offer proven institutional investment expertise. They embody bitcoin’s proof of work ethos in everything they do,” Sudock stated. “I expect GRIID to be the first of many success stories to emerge from the Ten31 portfolio, and I’m excited to help support Ten31 as it invests in the best companies in the rapidly evolving bitcoin ecosystem while serving as a resource to both portfolio companies and their founders.”

This development aligns with the launch of Ten31’s third institutional fund, Low Time Preference Fund III, securing anchor commitments and fortifying its position as a leading bitcoin tech investor. Additionally, Ten31’s Tactical Fund aims to provide access to individual accredited investors, offering further opportunities for participation in the rapidly evolving bitcoin ecosystem.

Ten31’s commitment to supporting Bitcoin extends beyond investment in companies, as it continues to allocate funding to open-source development within the bitcoin ecosystem. The fund has granted support to independent bitcoin developer calle for his work on bitcoin-powered Chaumian ecash. Ten31 is the most active investor in open source businesses in the bitcoin ecosystem, and was a founding contributor to public charity OpenSats in 2021, supporting a variety of open source efforts on a no-strings-attached basis.

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