Greenidge Opens Mississippi Bitcoin Mine
Greenidge Generation Holdings Inc., previously one of the largest public Bitcoin miners in the United States, has established a new facility in Mississippi capable of mining 2,400 BTC.
The company’s official release indicates that the extensive mining facility, which encompasses 12 acres, currently employs 8.5 MW (megawatt) of power. Additionally, Greenidge seeks to acquire a minimum of 25 MW of additional power within the following year.
“Other growth drivers are on the horizon in Mississippi, given the potential for at least 25 MW of future expansion.”
Additionally, the mining rig employs the Greenidge Pod X, known for its optimal temperature, increased longevity, and reduced pollution complaints. It has a capacity of 792 miners. Furthermore, the organization declared that these modules are by the National Electrical Code (NEC) on X.
“The new mining site’s efficiency was enhanced, and buildout costs were reduced by utilizing the NEC-compliant Greenidge Pod X.”
Greenidge stated that it would leverage the infrastructure solution within the industry to promote its expansion.
The Bitcoin mining facility was officially inaugurated on July 1, according to the announcement. The organization intends to deploy its initial cargo of Antminer S21 Pro Bitcoin miners in the upcoming weeks.
According to Greenidge, the on-site warehouse lease is anticipated to be finalized by September 1, 2024.
According to a recent ruling in September 2023, Greenidge Generation’s crypto-mining pollution operations have affected the greenhouse gas emissions limits of New York’s Climate Law (the CLCPA).
The crypto miner was the subject of a lawsuit after thousands of community members submitted comments opposing the company’s air permit.
Furthermore, according to a Bloomberg report, Greenidge pursued bankruptcy protection. According to an SEC filing, it engaged in a debt restructuring agreement with lender New York Digital Investment Group for approximately $74 million.
Greenidge miners currently have a total power capacity of 122 MW, distributed among 8,000 operational miners. In addition to the Mississippi site, it acquired low-cost power capacity establishments in North Dakota and South Carolina.
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