Greenidge Announces Continued Expansion of Power Capacity; Company Has Secured Access To 60 MW of Low-Cost Power in South Carolina
04 Avril 2024 - 3:00PM
Business Wire
Greenidge Planning Development of 60 MW Data
Center on its South Carolina Property
Builds on Recent Addition of 40 MW of
Low-Cost Power in Mississippi and North Dakota
Greenidge Generation Holdings Inc. (NASDAQ: GREE) (“Greenidge”
or the "Company"), a vertically integrated cryptocurrency
datacenter and power generation company, today announced that it
continues to expand its U.S. footprint capacity and has secured
access to 60 MW of low-cost power in South Carolina. This follows
the Company’s recently announced acquisition of 32.5 MW of mining
capacity in Mississippi and 7.5 MW of mining capacity in North
Dakota, bringing the total new power capacity added this past month
to approximately 100 MW.
Greenidge’s expansion in South Carolina flows from a new
agreement for anticipated electric services of a peak electrical
load of 60 MW to be developed on 20 acres of a 150-acre parcel of
property owned in Spartanburg, South Carolina. In the coming
months, Greenidge intends to leverage the site’s power capacity,
optimal footprint and infrastructure for the development of a GPU
data center, with plans to activate the site by June 2025. In
tandem, Greenidge will also commission a study to evaluate the
timing and cost associated with the potential addition of 250 MW on
the remaining 130 acres of the property in South Carolina.
Greenidge CEO Jordan Kovler commented: “With our recent addition
of 100 MW of total power capacity, we continue to demonstrate the
positive progress we are making at Greenidge. This power delivery
agreement builds on the growth we recently announced in Mississippi
and North Dakota, and it shows our clear focus on increasing
profitability through steps that have the potential to transform
our business as we expand our footprint across the country. In the
coming months, we will execute on the development of these sites
while continuing to find additional opportunities that allow us to
grow.”
In March, Greenidge produced approximately 130 bitcoin, of which
42 bitcoin were produced by Greenidge-owned miners and 88 were
produced through our datacenter hosting. Greenidge’s hash rate in
March was approximately 2.62 EH/s, with 0.85 EH/s from
Greenidge-owned miners and 1.77 EH/s from our datacenter hosting.
Greenidge’s hash rate is expected to increase to 2.87 EH/s as a
result of ongoing deployment of over 2,700 of its miners. Moving
forward, Greenidge will report its bitcoin mined on a monthly
basis, in response to shareholder feedback.
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a
vertically integrated power generation company, focusing on
cryptocurrency mining, infrastructure development, engineering,
procurement, construction management, operations and maintenance of
sites.
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 are forward looking statements.
Forward-looking statements are subject to a number of 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 I, Item 1A. “Risk
Factors” of Greenidge’s Annual Report on Form 10-K for the year
ended December 31, 2022 and Quarterly Reports on Form 10-Q for the
periods ended March 31, 2023, June 30, 2023 and September 30, 2023,
as well as statements about or relating to or otherwise affected by
the completion of management’s final review of the financial
results and Greenidge’s other closing procedures. 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. You should not put undue reliance
on forward-looking statements. No assurances can be given that any
of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do occur, the actual results,
performance, or achievements of Greenidge could differ materially
from the results expressed in, or implied by, any forward-looking
statements. All forward-looking statements speak only as of the
date of this press release and Greenidge does not assume any duty
to update or revise any forward-looking statements included in this
press release, whether as a result of new information, the
occurrence of future events, uncertainties or otherwise, after the
date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240404891326/en/
Investors Nick Ratti 315-536-2359 nratti@greenidge.com
investorrelations@greenidge.com
Media Longacre Square Partners Charlotte Kiaie / Kate
Sylvester, 646-386-0091 greenidge@longacresquare.com
Greenidge Generation (NASDAQ:GREE)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Greenidge Generation (NASDAQ:GREE)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024
