FAIRFIELD, Conn., Jan. 25, 2022 /PRNewswire/ -- Greenidge
Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge"), a vertically
integrated cryptocurrency mining and power generation company
committed to 100% carbon-neutral datacenter operations, today
announced plans to develop a new cryptocurrency datacenter in
Spartanburg County. The
$264 million investment will create
40 new tech-sector jobs.
Located on 175 acres in Spartanburg, Greenidge's South Carolina operations will house some of
the most advanced and efficient cryptocurrency mining computers
commercially available. Greenidge expects the facility to have at
least 100 megawatts of datacenter capacity when fully
developed.
The first phase of the project is expected to be online in the
second half of 2022, with additional expansions to reflect this
investment through 2025. Greenidge will provide information to
individuals interested in becoming team members, via its website,
later this year.
QUOTES
"We are extremely excited to announce our
commitment to expand our business to Spartanburg, and we're grateful for the
welcome and support we have received from the state and our local
community. This is a significant step in Greenidge's strategy
to build upon our unique expertise at new locations across the
country. The site is ideal, with an energy mix that is more than
60% carbon-free, opportunities for additional growth and a
business-friendly climate. We're excited to hire great, local
talent immediately and support nearby businesses as we grow our
company here in South
Carolina."
- Greenidge Chief Executive Officer Jeff Kirt
"South Carolina is transforming
into a hub for tech-focused companies, and we welcome Greenidge
Generation to our growing roster of innovative companies. The
company's $264 million investment and
the 40 skilled jobs they are creating will make a tremendous impact
in Spartanburg County and
beyond."
- South Carolina Governor
Henry McMaster
"To remain globally competitive, it's imperative to embrace
disruptive change and emerging technologies. Today's announcement
by Greenidge Generation is proof that South Carolina has the cutting-edge business
environment and talent in place to attract new and innovative
industries."
- South Carolina Secretary of
Commerce Harry M. Lightsey
III
"This kind of technology-fueled investment fits perfectly with
our aim to diversify the types of developments, and therefore the
types of jobs, we attract to Spartanburg
County. We welcome Greenridge Generation and look forward to
the impact they'll have on the growing eastern side of Spartanburg County."
- Spartanburg County Council Chairman Manning Lynch
About Greenidge Generation Holdings Inc.
Greenidge
Generation Holdings Inc. (NASDAQ: GREE) is a vertically integrated
cryptocurrency datacenter and power generation company. Greenidge
is committed to 100% carbon-neutral datacenter operations at all of
its locations by utilizing low-carbon sources of energy and
offsetting its carbon footprint.
About South Carolina Department of Commerce
As
South Carolina's leading economic
development agency, the Department of Commerce works to recruit new
businesses and help existing business grow. S.C. Commerce has
recruited world-class companies to South
Carolina such as BMW, Boeing, Continental, Giti Tire, LPL
Financial Holdings, Mercedes-Benz Vans, Samsung, Toray and Volvo
Cars and also supports startups, small and existing business,
innovation and rural development initiatives. S.C. Commerce
partners with the S.C. Technical College
System via readySC to support workforce training and
recruiting, and with the S.C. Department of Employment and
Workforce, which provides worker training and employment
opportunities within the state. With a strong international
footprint, the Palmetto State has consistently been among the
top in the nation for attracting jobs through foreign
direct investment on a per capita basis – recognized by
multiple economic development publications for its pro-business
climate. For more information, visit www.SCcommerce.com.
Forward-Looking Statements
This press release
includes certain statements that may constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of
historical fact are forward-looking statements for purposes of
federal and state securities laws. These forward-looking statements
involve uncertainties that could significantly affect Greenidge's
financial or operating results. These forward-looking statements
may be identified by terms such as "anticipate," "believe,"
"continue," "foresee," "expect," "intend," "plan," "may," "will,"
"would," "could," and "should," and the negative of these terms or
other similar expressions. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Forward
looking statements in this press release include, among other
things, statements regarding the business plan, business strategy
and operations of Greenidge in the future. In addition, all
statements that address operating performance and future
performance, events or developments that are expected or
anticipated to occur in the future, such as statements concerning
(i) the development of facilities in South Carolina (ii) the ability to offset
carbon emissions and (iii) the ability to obtain future debt or
equity financing, are forward-looking statements. Forward-looking
statements are subject to a number of known and unknown risks,
uncertainties and assumptions. Matters and factors that could cause
actual results to differ materially from those expressed or implied
in such forward-looking statements include but are not limited to
the matters and factors described in Part II, Item 1A. "Risk
Factors" of Greenidge's Quarterly Reports on Form 10-Q, and its
other filings with the Securities and Exchange Commission.
Consequently, all of the forward-looking statements made in this
press release are qualified by the information contained under this
caption. No assurance can be given that these are all of the
factors that could cause actual results to vary materially from the
forward-looking statements in this press
release. Forward-looking statements are only predictions based
on our current expectations and our projections about future events
and therefore speak only as of the date of this release. You should
not place undue reliance on these forward-looking statements. We
undertake no obligation to update any of these forward-looking
statements for any reason, whether as a result of new information,
future developments or otherwise, after the date of this press
release.
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SOURCE Greenidge Generation Holdings Inc.
