Greenidge Generation to Expand Into Texas, Acquire South Carolina Site

Bitcoin mining company Greenidge Generation is eyeing expansion into Texas and buying a site in South Carolina.

• The company (Nasdaq: GREE) announced Thursday it is entering into an agreement regarding potentially constructing new data centers in Texas.
• It also agreed to acquire printing company LSC Communications’ facility in Spartanburg, South Carolina. It had originally intended to lease that site.
• The purchase price for the South Carolina site is $15 million. This sale is expected to be completed in early December, according to a Securities and Exchange Commission filing.
• The company also reached an agreement with a developer over six sites in Texas as potential locations for data centers. The sites have 2,000 MW of electrical capacity, and some have access to wind and solar power generation.
• Greenidge also doubled its recent order of S19j Pro mining machines from Bitmain to 22,500 units. This brings the firm’s total order with Bitmain to 29,000 miners, which are to be delivered by the third quarter of 2022.

Read more: Bitcoin Miner Greenidge Generation to Sell $50M in Bonds

UPDATE (OCT. 22, 11:10 UTC): Rewrites headline to remove ambiguity; adds South Caroline purchase price, details of Texas expansion.