Published: 28.03.2022
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1 minute.
Greenidge Generation Holdings, which owns a large mining center in upstate New York, plans to buy additional equipment and increase the hash rate to 4.7 Eh / s this year.
To do this, the company received an $81.4 million loan from NYDIG and a $26.5 million promissory note from B. Riley Financial, according to a press release. At the same time, “the vast majority of new devices” will be located outside the first site in New York.
Recently, Greenidge launched a mining center in South Carolina, which generates about 15% of the company’s total hashrate. Greenidge is now awaiting a decision from the Department of Environmental Protection to renew its mining license in the Finger Lakes area of New York State.
“This funding is in line with our strategy of using outside capital to expand our business,” said Greenidge CEO Jeff Kirt.
Notably, about a week before the state’s deadline to decide whether to grant Greenidge a work permit, the New York City Environmental Protection Committee approved a bill to ban Proof-of-Work (PoW) cryptocurrency mining. ) for two years.
The construction of a Greenidge mining center with a capacity of at least 100 MW in South Carolina became known at the end of January this year. At that time, it was expected that the volume of investments would amount to $264 million.
Source: Bits
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