Greenidge Generation Holdings Inc. has expanded its bitcoin mining operations with a new site in Mississippi. The site, which went live on July 1, 2024, features 2,400 bitcoin miners and is expected to increase capacity further in the coming months.
Greenidge Adds 2,400 Bitcoin Miners to New Mississippi Facility
Greenidge (Nasdaq: GREE) acquired the 12-acre Mississippi property earlier this year and rapidly transitioned it to an operational site using its proprietary Greenidge Pod X infrastructure. The site currently has 8.5 MW of power capacity, with plans to secure an additional 25 MW within the next 12 months. Greenidge explained to Bitcoin.com News that the expansion is part of the firm’s broader strategy to enhance its footprint across multiple locations.
The Greenidge Pod X, launched in June, is a significant component of this expansion, according to the company. The pod offers a unique design aimed at optimizing temperatures, thus improving the uptime and longevity of mining equipment. Greenidge claims the introduction of Pod X positions Greenidge among a few global manufacturers providing such large-scale mining solutions.
With the addition of the Mississippi site, Greenidge now operates four bitcoin mining facilities with a total power capacity of 122 MW and approximately 8,000 miners across the U.S. and Canada. The company further noted that it is also exploring further opportunities to develop, purchase, lease, or sell properties to support its growth strategy.
“Greenidge has made tremendous progress transforming our business over the last 12 months, and with the introduction of the Greenidge Pod X, we’ve now reached a key inflection point that will further benefit our long-term growth trajectory,” Greenidge CEO Jordan Kovler remarked on Thursday.
What do you think about Greenidge’s expansion into Mississippi? Share your thoughts and opinions about this subject in the comments section below.
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