Bitcoin Miner Greenidge Generation Deploys 2,400 Miners at New Mississippi Site

Greenidge Generation Holdings Inc., once one of the largest public Bitcoin miners in the US, has launched a new site in Mississippi, with 2,400 BTC mining capabilities.

The massive mining establishment, which spans across 12-ache, currently utilizes 8.5 MW (megawatt) power, according to the company’s official release. Besides, Greenidge is also looking to obtain at least 25 MW of additional power in the next 12 months.

“With potential future expansion of at least 25 MW in Mississippi, other drivers for growth are on the horizon.”

Further, the mining rig uses Greenidge Pod X, which boasts using optimal temperature with better longevity, a capacity of 792 miners and reduced noise complaints. Additionally, the company wrote on X that these pods are National Electrical Code (NEC)-compliant.

“Utilizing the NEC-compliant Greenidge Pod X helped reduce buildout costs and increase efficiency of the new mining site.”

Greenidge said that it will make use of the infrastructure solution within the industry to foster its growth.

We are pleased to announce the recent deployment of 2,400 miners at our new Bitcoin mining site in Mississippi. Utilizing the NEC-compliant Greenidge Pod X helped reduce buildout costs and increase efficiency of the new mining site.

We look forward to increased utilization of… pic.twitter.com/OoothIreBB

— Greenidge Generation Holdings Inc (@Greenidge_GREE) July 11, 2024

The Bitcoin mining site was inaugurated on July 1, the announcement read. The company is also planning to deploy its first shipment of Antminer S21 Pro Bitcoin miner in the coming weeks.

“In addition, Greenidge expects to finalize the planned lease of the on-site warehouse by September 1, 2024,” it added.

Greenidge Miner’s Long-Running Dispute With Environmentalists

Greenidge Generation’s crypto mining pollution operations have impacted the greenhouse gas emissions limits of New York’s Climate Law (the CLCPA), a new ruling in September 2023, noted.

The crypto miner faced a lawsuit after thousands of community members submitted comments in opposition to company’s the air permit.

Additionally, according to a Bloomberg report, Greenidge sought bankruptcy protection. It entered into debt restructuring of about $74 million with lender New York Digital Investment Group, an SEC filing revealed.

However, currently, Greenidge miner has 122 MW of total power capacity across 8,000 miners in operation. Apart from the Mississippi site, it acquired low-cost power capacity establishments in South Carolina and North Dakota