GREENIDGE GENERATION COMPLETES PURCHASE OF PREVIOUSLY ANNOUNCED SOUTH CAROLINA SITE

Rhea-AI Summary

Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced the completion of its purchase of a former industrial site in Spartanburg, SC, in early December. The company has begun small-scale cryptocurrency mining operations at this site, utilizing temporary space within an existing structure on a 175-acre property with over 750,000 square feet of industrial buildings. Greenidge is focused on achieving 100% carbon-neutral bitcoin mining by leveraging low-carbon energy sources and plans to expand its operations across North America.

Positive

• Successfully acquired a 175-acre industrial site in Spartanburg, SC.
• Initiated small-scale cryptocurrency mining operations at the new site.
• Commitment to 100% carbon-neutral bitcoin mining.

Negative

• None.

SPARTANBURG, S.C., Dec. 23, 2021 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge") today announced that it completed the previously announced purchase of a former industrial site in Spartanburg, SC in early December. Consistent with its previously announced expectations, Greenidge commenced small-scale cryptocurrency mining at the site last week, in temporary space within an existing structure on the 175 acre property with over 750,000 square feet of industrial buildings.

About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. is a vertically integrated bitcoin mining and power generation company. Greenidge is committed to 100% carbon-neutral bitcoin mining at all of its locations by utilizing low-carbon sources of energy and offsetting its carbon footprint. Greenidge plans to expand operations to multiple locations in North America.

View original content:https://www.prnewswire.com/news-releases/greenidge-generation-completes-purchase-of-previously-announced-south-carolina-site-301450374.html

SOURCE Greenidge Generation Holdings Inc.

FAQ

What did Greenidge Generation announce on December 23, 2021?

Greenidge Generation announced the completion of its purchase of a former industrial site in Spartanburg, SC, and the commencement of small-scale cryptocurrency mining.

What is the stock symbol for Greenidge Generation Holdings Inc.?

The stock symbol for Greenidge Generation Holdings Inc. is GREE.

Where is the new site for Greenidge Generation located?

The new site is located in Spartanburg, South Carolina.

What is Greenidge Generation's commitment regarding bitcoin mining?

Greenidge Generation is committed to achieving 100% carbon-neutral bitcoin mining using low-carbon energy sources.

How large is the site acquired by Greenidge Generation?

The acquired site covers 175 acres and has over 750,000 square feet of industrial buildings.