Greenidge Generation to go public on Nasdaq via reverse merger

The American mining company Greenidge Generation will become public through a reverse merger with the Nasdaq-listed customer-solutions provider Support.com. Finalization of the deal is expected on September 14, with the listing the following day.

The shares will trade under the ticker GREE.

Announced on March 22, the merger will be effected by a stock-for-stock exchange at a rate of 1 SPRT share for 0.115 GREE, with cash consideration.

In 2022, Greenidge Generation plans to increase its hash rate from 1.1 EH/s to 2.6 EH/s.

In May, Greenidge Generation promised to fully offset its carbon footprint from mining the first cryptocurrency by purchasing CO2 emission quotas.

In June, the mining company announced plans to launch a new Bitcoin mining facility in South Carolina.

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