GRIID Shares Quadruple in Five Days Amid Acquisition Rumors

The share price of GRIID, a U.S.-based Bitcoin mining firm, has seen a dramatic increase over the past week. Starting at $0.59, GRIID’s stock soared to $2.72 in just five trading days, marking a staggering 340% increase, according to TheMinerMag.

The rally began on June 20, fueled by rumors of a potential acquisition by CleanSpark. GRIID’s stock initially jumped 70% from $0.59 to nearly $1 last Thursday and continued its upward trajectory. On Tuesday, the stock surged by 43%, closing at $1.98. On Wednesday, it peaked at $2.72 before settling at $2.6 as of the latest reports.

Neither GRIID nor CleanSpark has commented on the acquisition rumors, leaving investors speculating about the future of the company. Despite the lack of confirmation, the market has responded enthusiastically, driving GRIID’s share price to new heights.

In related news, other Bitcoin mining stocks with AI and high-performance computing (HPC) initiatives have also performed well. Companies such as Core Scientific, Bit Digital, Hut 8, Terawulf, and HIVE saw gains of between five and eight percent on Wednesday, even as Bitcoin’s price remained steady at around $62,000.