On September 15, Greenidge Generation, a bitcoin miner, said that it has placed an order with Bitmain for 10,000 S19j flagship bitcoin miners to grow the company's mining fleet.

The company intends to install all 10,000 units at its planned Spartanburg, South Carolina factory and is projected to arrive in the second and third quarters of 2022. The purchase would bring an additional 1 exahash(EH) of capacity to the existing mining activities of the firm. This might add 1,000 petahashes (PH) of hashrate capacity to its mining operation.

 "The addition of 10,000 new miners is an important step in our commitment to expand our fully carbon-neutral capacity," said Greenidge CEO Jeff Kirt.

"We expect that these miners will anchor our anticipated facility in Spartanburg, expanding our national footprint by growing our environmentally sustainable mining operations."

This is the bitcoin mining firm's latest step to reach 50 megawatts (MW) of electrical capacity in its mining operations by 2025. After it unveiled its plans for the project in July to extend its activities beyond its initial site, the firm stated that it will begin mining later this year or early next year in Upstate New York.

Greenidge’s two-thirds of its electricity comes from zero-carbon sources such as nuclear power, making the new facility its second carbon-neutral bitcoin mining operation in the US. 

The firm has been active in environmental concerns through its operations and intends to reduce its carbon emissions “as it continues to expand its bitcoin mining capacity in line with its commitment to environmental leadership in power generation and cryptocurrency operations”. In July, the mining firm announced the conversion of an old coal ash landfill into a new solar farm. 

The bitcoin miner has recently announced that its merger with the tech services company, Support.com has been completed successfully, which is now the subsidiary of Greenidge Generation.

Stockholders of Support.com will get 0.115 shares of Greenidge class A common shares for each share they held before the merger.

Pavan A

CBW - External Analyst

INDIA