Bitcoin
What’s Happening to Bitcoin Miner Griid Infrastructure Stock? – GRIID Infrastructure (NASDAQ:GRDI)
bitcoin miner GRIID Infrastructure Inc. GRDI shares are trading higher on Wednesday after rising more than 40% in Tuesday’s session. Here’s a look what is happening.
The details:
Grid is a vertically integrated platform Bitcoin BTC/USD mining company that owns and operates a portfolio of high-density energy infrastructure and data centers in North America.
According to the company’s latest quarterly report, The number of bitcoins mined during the three months ending March 31, 2024 and 2023 was approximately 66 and 82, respectively. Griid holds approximately 11 bitcoins with an average cost of $67,759 per bitcoin.
Griid shares are moving with heavy trading volume for a second day on Wednesday, despite the lack of company-specific news. According to data from Benzinga ProMore than 12.3 million shares traded hands so far during the session, compared to the stock’s 100-day average of 3.119 million shares.
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How to buy GRDI shares?
By now you’re probably curious about how to participate in the Griid infrastructure market – whether to buy shares or even try to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to purchase ‘fractional shares’, which allows you to own portions of a stock without purchasing a whole share. For example, some stocks, such as Berkshire Hathaway, It can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokers will allow you to do so.
In the case of Griid Infrastructure, which is trading at $2.24 at the time of publication, $100 would buy 44.64 shares.
If you intend to bet against a company, the process is more complex. You will need access to an options trading platform or a broker who will allow you to short a stock, lending you shares to sell. The process of shorting a stock is stock can be found on this resource. Otherwise, if your broker allows you to trade options, you can buy a put or sell a call at a strike price above the stock’s current strike price – either way, this allows you to profit from the fall in share prices.
GRDI Price Action: According to Benzinga ProGriid Infrastructure shares were up 26.2% to $2.50 at press time on Wednesday.
Image: Reto Scheiwlliier from Pixabay