In the third quarter of 2021, the American public mining company Greenidge Generation Holdings mined 729 BTC. The firm said in a preliminary report.
The period’s expected revenue, likely, will be between $33-$37 million with a net loss of $16-$19 million. It is driven by roughly $30 million in costs tied to the merger with Support.com.
Greenidge announced the acquisition of a Nasdaq-listed provider of customer solutions and tech support in March 2021. The deal was closed on September 14, with the mining company’s shares listed under the ticker GREE.
As of September 30, Greenidge operated roughly 15,300 miners with total capacity of 1.2 EH/s. All equipment is installed at a single facility in the state of New York.
At quarter-end, Greenidge’s reserves in fiat and digital assets stood at $52 million.
The company confirmed plans to expand its mining operations by launching a second site in South Carolina. It is expected to draw the majority of its energy from green sources.
As noted, since June Greenidge became carbon-neutral through the purchase of CO2 emission allowances.
However, residents of the town of Dresden in New York accused the company’s hybrid power plant of negative environmental impact.
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