Business
Greenidge Expands Bitcoin Mining Capabilities with Launch of Mississippi Site and Deployment of 2,400 Miners
Demonstrates Competitive Edge of Greenidge’s Best-in-Class Pod X Mining Infrastructure Solution Plans to Expand Site’s Power Access By At Least 25 MW in Next
About this update from Greenidge Generation Holdings Inc.
[{"type":"text","content":"\nDemonstrates Competitive Edge of Greenidge’s Best-in-Class Pod X Mining Infrastructure Solution\n\n\nPlans to Expand Site’s Power Access By At Least 25 MW in Next 12 Months\n\n\nGrows Greenidge’s Current Footprint to 4 Active Bitcoin Mining Sites with 122 MW of Current Total Power Capacity\n\n\n DRESDEN, N.Y.--(BUSINESS WIRE)--\nGreenidge Generation Holdings Inc. (NASDAQ: GREE) (“Greenidge” or the \"Company\"), a vertically integrated cryptocurrency datacenter and power generation company, today announced that it has expanded its bitcoin mining capabilities with the launch of its newest bitcoin mining site located in Mississippi. The site went live on July 1, 2024 with 2,400 bitcoin miners that Greenidge deployed from its fleet. In the coming weeks, Greenidge also expects to deploy its first shipment of Antminer S21 Pro bitcoin miners across its active sites to further increase its mining capacity.\n\n\nGreenidge acquired the 12-acre property in Mississippi earlier this year and built out the site utilizing its proprietary Greenidge Pod X, a best-in-class crypto mining infrastructure solution. Greenidge currently has access to 8.5 MW of power at the site and intends to obtain at least 25 MW of additional power within the next 12 months in order to further expand its overall power capacity. In addition, Greenidge expects to finalize the planned lease of the on-site warehouse by September 1, 2024.\n\n\nGreenidge CEO Jordan Kovler commented: “Greenidge has made tremendous progress transforming our business over the last 12 months, and with the introduction of the Greenidge Pod X, we’ve now reached a key inflection point that will further benefit our long-term growth trajectory. Our ability to quickly and efficiently take the Mississippi site from acquisition to miner deployment within just three months is a testament not just to the competitive advantage of our proprietary Pod X infrastructure solution but also to our team’s highly complementary expertise in both mining and power and electric infrastructure. With Pod X, Greenidge is now one of only several pod manufacturers in the world that offers a mining pod of this scale and is the only bitcoin mining company with integrated pod sales capabilities.”\n\n\nKovler added: “As we continue to expand our footprint across the country, we are actively evaluating new strategic opportun...