Why Bitcoin- And Ethereum-Related Stock Greenidge Generation (GREE) Is Exploding Higher
Portfolio Pulse from Henry Khederian
Greenidge Generation Holdings Inc (NASDAQ:GREE) shares are trading higher by 11.29% to $3.45 amid strength in the price of Bitcoin following BlackRock's Bitcoin ETF application. The cryptocurrency market is experiencing an upswing driven by favorable developments, including the introduction of EDX Markets, supported by Charles Schwab, Fidelity, and Citadel Securities.

June 21, 2023 | 3:28 pm
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Greenidge Generation (GREE) shares are up 11.29% due to the strength in Bitcoin price following BlackRock's ETF application and the introduction of EDX Markets.
Greenidge Generation is a vertically integrated cryptocurrency data center and power generation company. The strength in Bitcoin price following BlackRock's ETF application and the introduction of EDX Markets, supported by prominent financial entities, has a direct impact on GREE's profitability. As the price of Bitcoin increases, the revenue generated from mining surpasses the costs, leading to increased profitability for Greenidge Generation.
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