DRESDEN, N.Y.--(BUSINESS WIRE)--Greenidge 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.
Greenidge 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.
Greenidge 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.”
Kovler added: “As we continue to expand our footprint across the country, we are actively evaluating new strategic opportunities to develop, purchase, lease or, when appropriate, sell properties in alignment with our value creation playbook.”
Greenidge now has 122 MW of total power capacity across four bitcoin mining facilities in the U.S. and Canada with approximately 8,000 miners in operation. In addition to the Mississippi site, Greenidge most recently acquired 60 MW of future low-cost power in South Carolina and 7.5 MW of mining capacity in North Dakota.
Launch of the Greenidge Pod X
In June, Greenidge launched the Greenidge Pod X in order to provide the industry with a crypto mining infrastructure solution that offers miners an innovative design with optimal temperatures that result in superior uptime and better longevity. The Greenidge Pod X has capacity for 792 miners, which is 35% more than other pod manufacturers, and offers one of the lowest pod and infrastructure $/kW cost ratios in the industry. From design to operation, Greenidge has deployed the Pod X at its sites in New York, South Carolina, North Dakota and now Mississippi.
For more info on purchasing Greenidge Pod X for miner deployments, please visit: https://greenidge.com/pod-x.
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a vertically integrated cryptocurrency datacenter and power generation company, focusing on cryptocurrency mining, infrastructure development, engineering, procurement, construction management, operations and maintenance of sites.
Forward-Looking Statements
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