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Greenidge Generation invests $264 million in new bitcoin mining venture

Greenidge Generation invests $264 million in new bitcoin mining venture

Mining company Greenidge Generation has announced plans to build a data center for cryptocurrency mining in South Carolina (USA). The investment in the project will total $264 million.

Greenidge Generation Establishing Operations in Spartanburg County, SC $GREEhttps://t.co/bnHNP7Jmq6 & ; Greenidge Generation Holdings Inc (@Greenidge_GREE) January 25, 2022

The facility, located in Spartanburg County, is expected to create 40 new jobs. Its power consumption will reach at least 100 MW when completed.

The first phase of the project is expected to launch in the second half of 2022. Further expansion will continue until 2025.

In October 2021, the company ordered 22,500 ASIC miners for deployment at new sites in Texas and South Carolina.

Greenidge Generation previously said the Spartanburg facility would be entirely carbon-neutral.

As a reminder, in July 2021, a company mining operations at a power plant in New York State was accused by local residents of environmental violations.

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