On Monday, the New York-based company Greenidge Generation Holdings revealed the business aims to be the first publicly-listed mining operation with a wholly-owned power plant. Greenidge expects to be publicly listed on Nasdaq via a merger with the firm Support.com.
Greenidge Bitcoin Mining Operation and Gas Power Plant Plans to be Listed on Nasdaq
Last year in March, Bitcoin.com reported on the company Greenidge Generation Holdings joining the bitcoin mining ecosystem, as it launched a fleet of mining rigs at the 65,000 square-foot natural gas utility plant in Dresden New York. Because Greenidge leverages the utility plant’s natural gas as its native energy source the company developed a direct “behind-the-meter cryptocurrency mining operation.” The following month, the gas power plant sold a fully compliant hashpower contract of 106 petahash to an undisclosed buyer as well.
On March 22, 2021, Greenidge announced it plans to be publicly listed via Nasdaq through a merger with Support.com (Nasdaq: SPRT). The two companies signed an agreement to merge through a stock-for-stock transaction and after Support.com approves, Greenidge will become the firm’s wholly-owned subsidiary and will be listed on Nasdaq. At the time of publication, Greenidge’s power plant is a 106 MW gas plant with 19 MW dedicated to bitcoin mining. Greenidge is shooting toward 41 MW of capacity by Q2 2021 and 85 MW by the end of 2022.

Story continues on Bitcoin.com

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