{"id":78028,"date":"2023-04-28T16:22:00","date_gmt":"2023-04-28T13:22:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78028"},"modified":"2025-09-11T02:34:47","modified_gmt":"2025-09-10T23:34:47","slug":"greenidge-generation-and-core-scientific-agree-to-collaborate","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/greenidge-generation-and-core-scientific-agree-to-collaborate\/","title":{"rendered":"Greenidge Generation and Core Scientific Agree to Collaborate"},"content":{"rendered":"

The mining company Greenidge Generation agreed<\/a> with Core Scientific to host 6,914 Bitcoin mining devices on Core Scientific’s sites for one year. <\/p>\n

Based in New York, Greenidge will also deploy a further 1,500 of its own miners at its facilities.<\/p>\n

Core Scientific operates facilities in Georgia, Kentucky, North Carolina, North Dakota, and Texas.<\/p>\n

In a press release dated April 28, Greenidge Generation said they had “turned the page”.<\/p>\n

\n

“Collaboration with Core Scientific will significantly boost profitability,”<\/em> said the company’s CEO, Dave Anderson.<\/p>\n<\/blockquote>\n

Greenidge Generation estimated additional annual profit from the deal at $7.5 million.<\/p>\n

In December 2022, the company entered into an agreement<\/a> with lender NYDIG to sell a substantial portion of its mining machines to repay a debt of $74 million.<\/p>\n

In a document for the SEC<\/span>, Greenidge did not rule out filing for bankruptcy. Partly this was driven by environmentalists’ pressure<\/a> and the related attention from lawmakers.<\/p>\n

A month later, the company reached agreements with B. Riley and NYDIG on debt restructuring, reducing it from $87 million to about $26 million<\/a>.<\/p>\n

In 2022, the New York State Department of Environmental Conservation refused to extend Greenidge’s operating permits. The agency cited<\/a> the inability of the firm to confirm that it had adopted “adequate measures to reduce greenhouse gas emissions.”<\/p>\n

In 2022, Greenidge Generation mined 2,731 BTC. The company’s revenue for the period amounted to $90 million<\/a> with a net loss of $269.7 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The mining company Greenidge Generation has agreed with competitor Core Scientific to host 6,914 Bitcoin mining devices at Core Scientific’s sites for one year.<\/p>\n","protected":false},"author":1,"featured_media":78029,"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":[1271,1137,2209],"class_list":["post-78028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-core-scientific","tag-cryptocurrency-mining","tag-greenidge-generation"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78028","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=78028"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78028\/revisions"}],"predecessor-version":[{"id":78030,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78028\/revisions\/78030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78029"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}