Greenidge Generation raises $108 million to triple its hash rate

Greenidge Generation сообщила о привлечении $108 million. The funds will be used to triple computing capacity — up to 4.7 EH/s.

An NYDIG-affiliated firm provided $81.4 million in the form of a loan, and $26.5 million in the form of a promissory note linked to a B. Riley Financial structure. In the first case, the company provided as collateral ordered ANTMINER S19 J Pro from Bitmain, and in the second case — real estate.

The increase in Greenidge Generation’s hash rate will effectively not affect the data centre located in Dresden, New York. In 2021, local residents accused the company of negative environmental impact.

Greenidge Generation will focus on developing the Spartanburg County, South Carolina data centre. Its share of the firm’s total hash rate has already reached 15%, according to the press release. In January the company said that investments in the project will total $264 million.

Earlier in 2021, Greenidge Generation stated that the Spartanburg facility would be 100% carbon-neutral.

Earlier in 2021, the company pledged to fully neutralise the carbon footprint from Bitcoin mining through the purchase of CO₂ quotas.

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