Greenidge Generation Holdings Inc., the vertically integrated cryptocurrency data center and power generation company, announced today that it is securing access to 60 MW of affordable power in South Carolina and is expanding its U.S. footprint capacity.
The Company previously announced the acquisition of 32.5 MW of mining capacity in Mississippi and 7.5 MW in North Dakota. This brings the total new power capacity added past month to about 100 MW.
Greenidge’s South Carolina expansion is a result of a recent agreement to develop 20 acres of a 150-acre Spartanburg, South Carolina parcel of property for projected electric services with a peak electrical load of 60 MW.
With plans to activate the site by June 2025, Greenidge wants to take advantage of the GPU data center’s ideal footprint, infrastructure, and power capacity in the upcoming months. In addition, Greenidge plans to commission a study to assess the financial and scheduling implications of adding 250 MW to the remaining 130 acres of the South Carolina land.
“With our recent addition of 100 MW of total power capacity, we continue to demonstrate the positive progress we are making at Greenidge.,” said Jordan Kovler, CEO of Greenidge.
He added, “This power distribution deal demonstrates our unwavering commitment on boosting profitability through actions that have the potential to completely change our company as we spread across the nation and builds on the expansion we recently announced in North Dakota and Mississippi.”
About 130 bitcoins were produced by Greenidge in March; 42 of those were created by miners employed by Greenidge, and the remaining 88 were created via their data center hosting. Greenidge’s hash rate in March was roughly 2.62 EH/s, consisting of 1.77 EH/s from their data center hosting and 0.85 EH/s from miners that Greenidge owns.
Greenidge’s hash rate is anticipated to rise to 2.87 EH/s due to the continuous deployment of more than 2,700 miners. In the future, Greenidge will provide monthly reports on the bitcoin it has mined in response to comments from shareholders.
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