{"id":59308,"date":"2022-03-28T13:27:01","date_gmt":"2022-03-28T10:27:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59308"},"modified":"2025-09-04T21:13:14","modified_gmt":"2025-09-04T18:13:14","slug":"greenidge-generation-raises-108-million-to-triple-its-hash-rate","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/greenidge-generation-raises-108-million-to-triple-its-hash-rate\/","title":{"rendered":"Greenidge Generation raises $108 million to triple its hash rate"},"content":{"rendered":"<p>Greenidge Generation <a href=\"https:\/\/ir.greenidge.com\/news-releases\/news-release-details\/greenidge-generation-closes-over-100-million-new-financings-fund\">\u0441\u043e\u043e\u0431\u0449\u0438\u043b\u0430<\/a> \u043e \u043f\u0440\u0438\u0432\u043b\u0435\u0447\u0435\u043d\u0438\u0438 $108 million. The funds will be used to triple computing capacity \u2014 up to 4.7 EH\/s.<\/p>\n<p>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 <a href=\"https:\/\/forklog.com\/en\/news\/greenidge-generation-orders-22500-asic-miners-for-deployment-in-texas-and-south-carolina\">ordered ANTMINER S19 J Pro from Bitmain<\/a>, and in the second case \u2014 real estate.<\/p>\n<p>The increase in Greenidge Generation&#8217;s hash rate will effectively not affect the data centre located in Dresden, New York. In 2021, local residents <a href=\"https:\/\/forklog.com\/en\/news\/new-york-residents-accuse-greenidge-generation-of-environmental-violations\">accused<\/a> the company of negative environmental impact.<\/p>\n<p>Greenidge Generation will focus on developing the Spartanburg County, South Carolina data centre. Its share of the firm&#8217;s total hash rate has already reached 15%, according to the press release. In January the company said that investments in the project <a href=\"https:\/\/forklog.com\/en\/news\/greenidge-generation-to-invest-264-million-in-new-bitcoin-mining-venture\">will total $264 million<\/a>.<\/p>\n<p>Earlier in 2021, Greenidge Generation stated that the Spartanburg facility would <a href=\"https:\/\/forklog.com\/en\/news\/greenidge-generation-to-launch-new-green-data-centre-for-bitcoin-mining\">be 100% carbon-neutral<\/a>.<\/p>\n<p>Earlier in 2021, the company pledged to <a href=\"https:\/\/forklog.com\/en\/news\/greenidge-generation-to-become-carbon-neutral\">fully neutralise the carbon footprint from Bitcoin mining through the purchase of CO\u2082 quotas<\/a>.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 all news coverage, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining company Greenidge Generation announced that it raised $108 million. The funds will be used to triple computing capacity to 4.7 EH\/s.<\/p>\n","protected":false},"author":1,"featured_media":59309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,2209],"class_list":["post-59308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-greenidge-generation"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/59308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=59308"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/59308\/revisions"}],"predecessor-version":[{"id":59310,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/59308\/revisions\/59310"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/59309"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=59308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=59308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=59308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}