Greenidge Generation is planning to expand its Mining Business

As per the latest reports, Greenidge Generation has made a new announcement in regards to its operations. The company has announced that it is planning to expand its operations in more areas of the United States.

Greenidge Generation is one of the largest and a popular Bitcoin mining companies in the entire crypto-verse. The company has announced that it is planning to expand its services and it is going to do it from South Carolina. The company has revealed that it is planning to do it as soon as possible in the running year.

The announcement around the expansion of its business was made by Greenidge Generation on Friday, July 2, 2021. The firm has announced that it has always focused on operating in a carbon-neutral environment. This is the reason why the company would continue with its plans and strategy to stay carbon neutral.

The company has announced that the facility it opens up in South Carolina would be a carbon-neutral one. This way, the company would ensure that it continues mining Bitcoin completely keeping carbon emissions out of the equation.

The company has confirmed that it would be opening up the facility and operating it in Spartanburg City, South Carolina. The company has revealed that it has already signed a letter of intent. In the letter, the company has requested a 10-year lease.

The letter has been submitted to LSC Communication, which is a printing firm. The company will be using the location of LSC Communication, which is located on South Carolina City’s outskirts. The company has revealed that it is planning to launch the South Carolina mining facility either by the end of 2021 or the beginning of 2022.

According to Greenidge Generation, the location has chosen this location because of the electricity the particular location can draw. The data from the company suggests that they can draw 80 megawatts (MW) of electricity from a particular location.

The company has also revealed that two-thirds of the electricity it produces is from zero-carbon sources, which also include nuclear energy. Jeff Kirk, the CEO at Greenidge Generation has stated that their company has always strived to provide something better to the public.

Their aim is to introduce carbon-free Bitcoin mining in the United States and it is doing all that it can in its power to adopt it. They will continue with their struggle of creating an environment that would be sound for mining Bitcoin.

For its New York (NY) operations, the company has already acquired a power plant. The company is expecting that it will be able to increase its energy production to 85 MW for the same power plant.

Jerry Dedmon

Author: Jerry Dedmon

Jerry Dedmon is a new writer on Cryptocoin Stock Exchange, his articles are cryptocurrency news, analysis and blockchain news based. We recommend tuning in for Jerry's daily posts as they are always a great and interesting read.

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