Greenidge Announces Continued Expansion Of Power Capacity; Company Has Secured Access To 60 MW Of Low-Cost Power In South Carolina
Portfolio Pulse from Benzinga Newsdesk
Greenidge Generation Holdings Inc. (NASDAQ:GREE) announced its expansion with 60 MW of low-cost power in South Carolina, adding to its recent 100 MW capacity increase across Mississippi and North Dakota. The company plans to develop a GPU data center in South Carolina by June 2025 and is considering an additional 250 MW expansion. In March, Greenidge produced 130 bitcoin and expects its hash rate to increase to 2.87 EH/s with the deployment of over 2,700 miners.
April 04, 2024 | 1:09 pm
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Greenidge secures 60 MW of low-cost power in South Carolina, adding to a recent 100 MW capacity increase, and plans further expansion. Produced 130 bitcoin in March with a hash rate expected to rise to 2.87 EH/s.
The expansion of Greenidge's power capacity and the development of a new GPU data center indicate a strategic growth initiative that could significantly enhance its mining capabilities and profitability. The increase in hash rate and monthly bitcoin production reporting in response to shareholder feedback also demonstrates a positive outlook on operational transparency and performance, likely contributing to a positive short-term impact on GREE's stock price.
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