Greenidge Announces Expansion Of Power Capacity With 40 MW Of Low-Cost Power In Key Territories; Acquires 12-Acre Property In Mississippi With Power Expandable To 32.5 MW, Terms Of Acquisition Not Disclosed
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Greenidge Generation Holdings Inc. (NASDAQ:GREE) announced the expansion of its U.S. footprint with 40 MW of low-cost power through acquisitions in Mississippi and a lease in North Dakota, aiming to increase profitability and create jobs. The company reported mining approximately 150 and 128 bitcoins in January and February respectively, with an expected increase in hash rate to 2.8 EH/s by April 1 due to deploying over 2,100 miners.
March 11, 2024 | 1:04 pm
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Greenidge Generation Holdings Inc. expands mining operations with 40 MW of low-cost power, expecting to increase profitability and create jobs. January and February mining results reported with an anticipated hash rate increase.
The expansion of Greenidge's mining operations through acquiring low-cost power and deploying additional miners is likely to increase the company's profitability and operational efficiency. Reporting mining results and hash rate increases demonstrates growth and operational success, which could positively influence investor sentiment and stock price in the short term.
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