Greenidge Generation Provides August 2022 Operational Update

Rhea-AI Summary

Greenidge Generation Holdings Inc. (NASDAQ: GREE) released its operational update for August 2022, reporting the production of approximately 301 bitcoin in August and a total of 1,771 bitcoin for the year to date. The company's hashrate capacity stood at approximately 2.4 EH/s from around 24,500 miners. To improve efficiency, approximately 5,000 older miners were taken offline, equating to 0.3 EH/s. Notably, the power plant achieved 100.0% uptime for August, reflecting reliable operations.

Positive

• Produced approximately 301 bitcoin in August 2022.
• Achieved total bitcoin production of 1,771 for the year.
• Maintained hashrate capacity of approximately 2.4 EH/s.
• Power plant achieved 100.0% uptime in August.

Negative

• Approximately 5,000 older miners with 0.3 EH/s taken offline.

September 12, 2022

August 2022 Operational Update

• Produced approximately 301 bitcoin in August 2022, and 1,771 bitcoin for the eight months ended August 31, 2022.
• Hashrate capacity of approximately 2.4 EH/s from approximately 24,500 miners in service as of August 31, 2022.
• Approximately 5,000 older, less efficient miners representing approximately 0.3 EH/s taken offline in August to create capacity for new miners being delivered.
• Power plant uptime of 100.0% for the month of August.

FAIRFIELD, Conn., Sept. 12, 2022 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge"), a vertically integrated cryptocurrency datacenter and power generation company, today provided an operational update for the month of August 2022.

During the month of August 2022, Greenidge produced approximately 301 bitcoin, bringing the total bitcoin produced during the year to 1,771. As of August 31, 2022, Greenidge had approximately 2.4 EH/s of mining capacity online from approximately 24,500 miners. As of August 31, 2022, approximately 5,000 older, less efficient miners representing approximately 0.3 EH/s had been taken offline to create capacity for newer, more efficient miners being delivered.  

The power plant located at Greenidge's facility in Dresden, NY was offline for zero hours during the month of August, representing an uptime of 100.0% for the month and 99.9% for the eight months ended August 31, 2022.

About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a vertically integrated cryptocurrency datacenter and power generation company. Greenidge is committed to 100% carbon-neutral datacenter operations at all of its locations by utilizing low-carbon sources of energy and offsetting its carbon footprint.

For further information, please contact:

Investor Relations
investorrelations@greenidge.com

Media Inquiries
media@greenidge.com

View original content:https://www.prnewswire.com/news-releases/greenidge-generation-provides-august-2022-operational-update-301621552.html

SOURCE Greenidge Generation Holdings Inc.

FAQ

What was Greenidge Generation's bitcoin production in August 2022?

Greenidge Generation produced approximately 301 bitcoin in August 2022.

How many miners does Greenidge Generation have as of August 31, 2022?

As of August 31, 2022, Greenidge had approximately 24,500 miners in service.

What is the hashrate capacity of Greenidge Generation?

Greenidge Generation's hashrate capacity is approximately 2.4 EH/s.

What was the uptime percentage of Greenidge Generation's power plant in August 2022?

The power plant achieved 100.0% uptime in August 2022.

What total bitcoin production has Greenidge Generation achieved in 2022?

As of August 31, 2022, Greenidge Generation has produced a total of 1,771 bitcoin in 2022.