According to Greenidge Generation Holdings, Spartanburg (South Carolina), the 12th largest city in the state, will be home for bitcoin miners by Q4-2021 or Q1-2022.
LSC Communications signed a letter of intent to Greenidge in Dresden, N.Y. The letter states that Greenidge plans to expand its bitcoin mining operations on a property owned LSC by Atlas Holdings. The deal includes a 10-year lease on a former printing plant.
Greenidge explains that while the Spartanburg printing plant once produced approximately 80 megawatts of energy, it now believes that the facility has the potential to draw more than that amount. The company will use the existing electrical infrastructure and clean nuclear power.
“This is an important step of Greenidge’s strategy to draw upon our unique expertise and environmentally sound bitcoin mining in additional locations across the nation,” Jeff Kirt, CEO of Greenidge, stated in a statement.
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Greenidge continues to grow its operations, as do many other bitcoin mining companies. Greenidge had announced plans to become publicly listed via Nasdaq in March through a merger of Support.com. A fleet of mining equipment was launched by in the 65,000-square-foot natural gas utility facility in Dresden New York.
Greenidge, a bitcoin mining company, stated that it hopes to have 500MW online by 2025. Greenidge stressed that the company will ‘invest some of its mining profits into renewable energy projects throughout the country’.
The Greenidge Generation power station in New York’s Finger Lakes area uses flare gas or excess gasoline to power its fleet of bitcoin miners. Similar systems are used by companies such as Upstream Data and Crusoe Energy System, as well EZ Blockchain.
Kirt stated that he has a team of experts with proven experience in this new field. LSC’s Spartanburg location, which has a favorable energy mix, high capacity, and a friendly climate, is our next choice. According to Greenidge, the site’s electrical infrastructure will allow us to begin our data mining buildout almost immediately.