Home News Greenidge plans to expand mining operations to South Carolina

Greenidge plans to expand mining operations to South Carolina


New York-based mining company Greenidge Generation has announced plans to launch a new Bitcoin mining facility in South Carolina.

The data center will be located at the facilities of the former printing house in the city of Spartanburg. The company leases the building for 10 years from LSC Communications.

Since Tesla accused Bitcoin of being unsustainable and uncovered the carbon burden of cryptocurrency mining, many companies have started developing their own approaches to the first cryptocurrency and its mining. For example, the Bitcoin mining company Greenidge Generation has announced that it will become carbon neutral.

According to the crypto-mining company, the facility they are going to rent in South Carolina is capable of consuming 80 megawatts of energy. And 2/3 of it comes from non-carbon sources.

The company’s shares rose 11% after the announcement of the transition to eco-mining.

Greenidge Generation intends to leverage existing infrastructure with room for further growth.

The company plans to add a second branch in South Carolina in the coming months.

Also the company plans to explore other regions of the country. For the possible use of green energy sources for mining. Plus investing part of the profits from Bitcoins in renewable energy projects.

“This is an important step in Greenidge’s strategy. Building on our unique expertise in green mining bitcoin elsewhere across the country”, said CEO Jeff Keirt.

Note that Greenidge Generation Holdings Inc. is developing greener programs not as an independent initiative. But under the supervision of regulators responsible for compiling offset project registrie. Such as the American Carbon Register (ACR), Climate Action Reserve (CAR) and Verra.

Earlier, three environmental organizations and more than 20 residents of the American city of Torrey have sued the local administration and Greenidge Generation. According to the plaintiffs, the officials approved the project of expanding the mining center without a conclusion on the environmental impact.

In March 2021, it became known about the plans of Greenidge Generation Holdings to enter Nasdaq through a merger with the provider of solutions for customers Support.com. Thus, Greenidge Generation became the first publicly traded Bitcoin mining power plant.

Recall that in May, Greenidge Generation promised to completely neutralize the carbon footprint of Bitcoin mining by purchasing CO₂ emission quotas. Thus, in addition to switching to greener mining, Greenidge Generation Holdings Inc. intend to offset all greenhouse gas emissions from Bitcoin mining through a portfolio of fully accredited offset credits.

USA – a new mining center?

While Greenidge is looking towards South Carolina for mining, many companies from China are fleeing to Texas. So, the crypto-mining company Blockware announced that it will expand its activities in the state of Kentucky.

Thus, we can conclude that the United States is gradually becoming a new mining center. All major mining companies are currently located right here.

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