DRESDEN, N.Y., Sept. 15, 2021 /PRNewswire/ — Greenidge Technology Holdings Inc. (NASDAQ: GREE) (“Greenidge”), a vertically built-in bitcoin mining and energy era firm, immediately introduced that it has positioned an order for 10,000 S19j Professional bitcoin miners from Bitmain. Greenidge intends to deploy all 10,000 items at its anticipated Spartanburg, South Carolina facility. The order would carry an extra 1 EH of capability to the corporate’s bitcoin mining operations. The miners are at the moment scheduled to be delivered within the second and third quarters of 2022.
This order is the newest improvement within the firm’s plans to broaden its bitcoin mining capability to 500MW by 2025 by way of extra areas past its preliminary energy era and bitcoin mining operation in Upstate New York. “The addition of 10,000 new miners is a vital step in our dedication to broaden our totally carbon-neutral capability,” mentioned Greenidge Chief Govt Officer Jeff Kirt. “We count on that these miners will anchor our anticipated facility in Spartanburg, increasing our nationwide footprint by rising our environmentally sustainable mining operations.”
Greenidge expects to begin operations in Spartanburg within the fourth quarter of 2021 and expects the placement will turn into the corporate’s second carbon-neutral bitcoin mining operation in america. A majority of the electrical energy on the web site is anticipated to be sourced from zero-carbon sources and Greenidge intends to totally offset all carbon emissions on the web site because it continues to broaden its bitcoin mining capability according to its dedication to environmental management in energy era and cryptocurrency operations.
About Greenidge Technology Holdings Inc.
Greenidge Technology Holdings Inc. (NASDAQ: GREE) is a vertically built-in bitcoin mining and energy era firm. Greenidge is dedicated to 100% carbon-neutral bitcoin mining in any respect of its areas by using low-carbon sources of vitality and offsetting its carbon footprint. Greenidge at the moment operates one facility in Upstate New York and expects to broaden operations to a second location in South Carolina within the upcoming months, which is able to supply nearly all of its electrical energy from zero-carbon sources. Assist.com, Inc., a Greenidge subsidiary, is a number one supplier of buyer and technical help options delivered by home-based workers.
This press launch comprises “forward-looking statements” inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. All statements aside from statements of historic reality are forward-looking statements for functions of federal and state securities legal guidelines. These forward-looking statements contain uncertainties that might considerably have an effect on our monetary or working outcomes. These forward-looking statements could also be recognized by phrases akin to “anticipate,” “consider,” “proceed,” “foresee,” “count on,” “intend,” “plan,” “could,” “will,” “would,” “might,” and “ought to,” and the destructive of those phrases or different comparable expressions. Ahead-looking statements are based mostly on present beliefs and assumptions which might be topic to dangers and uncertainties and should not ensures of future efficiency. Ahead-looking statements on this doc embody, amongst different issues, statements relating to the prospects, improvement, marketing strategy, enterprise technique and operations of Greenidge sooner or later. Ahead-looking statements contained on this press launch embody, however should not restricted to, statements in regards to the present and future construct out and acquisition plans of Greenidge, together with with respect to its anticipated growth in Spartanburg, South Carolina or with respect orders of mining gear sooner or later to help growth plans. Ahead-looking statements are topic to quite a few dangers, uncertainties and assumptions. Issues and components that might trigger precise outcomes to vary materially from these expressed or implied in such forward-looking statements embody however should not restricted to the issues and components described in Greenidge’s Threat Elements set forth in its filings with the Securities and Change Fee, in addition to statements about or regarding or in any other case affected by: (i) the power to barter or execute definitive documentation with respect to a facility in Spartanburg, South Carolina on phrases and situations which might be acceptable to Greenidge, whether or not on a well timed foundation or in any respect; (ii) the power to acknowledge the anticipated goals and advantages of an growth right into a facility in Spartanburg, South Carolina; (iii) the power to acknowledge the anticipated goals and advantages, together with the anticipated tax remedy, of the acquisition of Assist; (iv) adjustments in relevant legal guidelines, laws or permits affecting Greenidge’s operations or the industries wherein it operates, together with regulation relating to energy era, cryptocurrency utilization and/or cryptocurrency mining; (v) any failure to acquire enough financing on a well timed foundation and on acceptable phrases with regard to progress methods or operations; (vi) fluctuations within the market pricing of bitcoin and different cryptocurrencies; (vii) lack of public confidence in, or use instances of, bitcoin and different cryptocurrencies; (viii) the potential of cybercrime, cash laundering, malware infections and phishing, and the prices related to such points; (ix) the potential of cryptocurrency market manipulation; (x) the economics of mining cryptocurrency, together with as to variables or components affecting the fee, effectivity and profitability of mining; (xi) the supply, supply schedule and price of apparatus mandatory to take care of and develop the enterprise and operations of Greenidge, together with mining gear and gear assembly the technical or different specs required to attain our progress technique, (xii) the likelihood that Greenidge could also be adversely affected by different financial, enterprise or aggressive components, together with components affecting the industries wherein it operates or upon which it depends and relies; (xiii) the power to broaden efficiently to different services, mine different cryptocurrencies or in any other case broaden the enterprise; (xiv) adjustments in tax laws relevant to us, our property or cryptocurrencies, together with bitcoin; (xv) any litigation involving Greenidge; (xvi) prices and bills regarding cryptocurrency transaction charges and fluctuation in cryptocurrency transaction charges; (xvii) the situation of our bodily property, together with that Greenidge’s single working facility could notice materials, if not complete, loss and interference because of gear malfunction or break-down, bodily catastrophe, knowledge safety breach, laptop malfunction or sabotage; (xviii) different dangers and uncertainties associated to the marketing strategy, enterprise technique, acquisition technique and buildout technique of Greenidge; (xix) the potential financial fallout ensuing from the COVID-19 outbreak. No assurance may be provided that these are all the components that might trigger precise outcomes to fluctuate materially from the forward-looking statements on this press launch. The precise outcomes, efficiency, or achievements of Greenidge might differ materially from the outcomes expressed in, or implied by, any forward-looking statements. All forward-looking statements converse solely as of the date of this press launch and Greenidge doesn’t assume any responsibility to replace or revise any forward-looking statements included on this press launch, whether or not because of new info, the incidence of future occasions, adjustments in assumptions or in any other case, after the date of this press launch.
SOURCE Greenidge Technology Holdings Inc.