December 11, 2023

Mining company Greenidge Generation mined 301 BTC in August

Mining company Greenidge Generation mined 301 BTC in August

At the end of August, the mining company Greenidge Generation mined ~301 BTC. The total figure since the beginning of 2022 was1771 BTC, according to the press release.

On the 31st, the company’s fleet consisted of about 24,500 miners with a total hashrate of ~2.4 EH/s.

According to the announcement, Greenidge Generation has taken offline about 5,000 older and less efficient devices (0.3 EH/s).

“Uptime [at the Dresden, New York facility] was 100% in August and 99.9% in eight months,” the company added.

The company's mining data center is located ata hybrid power plant it owns. The operation of this facility has raised complaints from local activists and environmentalists, who are confident of its negative impact on the environment.

In 2022, the New York Supreme Court rejected the environmentalists' lawsuit against Greenidge.

However, in early June, environmentalists and New York Assembly member Anna Kelles called on state Governor Kathy Hochul to revoke the company's mining permit.

Kelles sponsored a bill introducing a two-year moratorium on cryptocurrency mining using electricity generated from carbon sources. 

At the end of April, the document was supported in the lower house of the state Legislative Assembly, and on June 3 - in the Senate. The bill is awaiting signature from the governor.

Recall that against the background of a loss of $ 107.9 million in the second quarter, Greenidge Generation revised its plans for expansion to Texas.

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