Greenidge Generation Expands with New Bitcoin Mining Site in Mississippi

Greenidge Generation Holdings Inc., previously one of the largest public Bitcoin miners in the U.S., has inaugurated a new mining site in Mississippi, deploying 2,400 Bitcoin mining units.

The 12-acre facility currently operates at 8.5 MW (megawatts) of power, with plans to secure an additional 25 MW over the next year. This expansion aims to drive further growth for the company.

The new site features the Greenidge Pod X, a mining rig designed for optimal temperature control and reduced noise. Each pod houses 792 miners and complies with the National Electrical Code (NEC), enhancing buildout efficiency and lowering costs.

Greenidge plans to further develop its infrastructure to support continued growth within the industry. The facility officially opened on July 1, with the first shipment of Antminer S21 Pro Bitcoin miners expected in the coming weeks. Additionally, the company intends to finalize the lease of an on-site warehouse by September 1, 2024.

Greenidge has faced environmental challenges, particularly in New York, where their mining operations impacted greenhouse gas emissions limits, leading to legal disputes. The company sought bankruptcy protection and restructured $74 million in debt with the New York Digital Investment Group.

Despite these challenges, Greenidge currently operates with a total power capacity of 122 MW across 8,000 miners. Beyond Mississippi, the company has acquired low-cost power capacity sites in South Carolina and North Dakota.