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Bitcoin Miner Greenidge Generation Raises $108M for Business Expansion
Summary: U.S. Bitcoin miner Greenidge Generation (NASDAQ: GREE) announced Thursday that it has completed two rounds of financing with total proceeds of approximately $108 million. With more liquidity injected, the company is already gearing up for business expansion in 2022. The financing comes from two parts, one is about $81.4 million in financing provided by NYDIG ...
U.S. Bitcoin miner Greenidge Generation (NASDAQ: GREE) announced Thursday that it has completed two rounds of financing with total proceeds of approximately $108 million.
With more liquidity injected, the company is already gearing up for business expansion in 2022.
The financing comes from two parts, one is about $81.4 million in financing provided by NYDIG affiliates, secured by some of the Bitmain S19 J Pro Antminers delivered in 2022, and the other is $26.5 million provided by B. Riley Financial, Inc. affiliates, secured by Greenidge's Spartanburg, SC factory real estate.
With the vast majority of capacity expansion centered outside New York, Greenidge's data center capacity is expected to more than triple to 4.7 EH/s, said Jeff Kirt, CEO of Greenidge.
By Mary Liu
Tags: Bitcoin Miner,Greenidge Generation,NYDIG
Link: Bitcoin Miner Greenidge Generation Raises $108M for Business Expansion [Copy]
