Categories: Bitcoin Latest News

Greenidge Generation Completes Deployment Of 9,150 Bitcoin Miners Of Which 6,914 Will Be Hosted With Core Scientific

The agreement is set to bring approximately $7.5 million of annual revenue according to Greenidge CEO Dave Anderson.

Greenidge Generation Holdings Inc. has signed a hosting agreement with Core Scientific, Inc. in which Core Scientific will operate and host 6,914 Greenidge-owned bitcoin miners at its facilities in Dalton, GA and Calvert City, KY. 

“The agreement with Core Scientific completes this phase in our strategy to deploy 9,150 miners Greenidge owns, and we believe this agreement will significantly improve our profitability as we move forward,” said Dave Anderson, CEO of Greenidge. “We are very pleased to deploy these miners at Core’s facilities, which have favorable power costs and a track record of excellent operational performance.”

In addition to the hosting agreement, Greenidge announced the installation of an additional 1,500 company-owned miners at the company’s existing facilities across the country. With the combination of these two initiatives and the previously announced agreement with Conifex Timber Inc., Greenidge expects to generate approximately $7.5 million of incremental annual profit, according to Anderson.

Matt Minnis, Co-Founder of Core Scientific, expressed his excitement about the partnership, stating, “Greenidge is a proven operator in this industry, and we’re excited to partner with them and host their miners. We believe this is a win-win for Core and Greenidge.”

The hosting agreement is set to be a one-year agreement between Greenidge and Core Scientific and includes a proceed-sharing component to recognize the contribution of miners by Greenidge and the infrastructure and operating expertise provided by Core Scientific. 

Read More[#item_full_content]Bitcoin Magazine – Bitcoin News, Articles and Expert Insights

Recent Posts

Bank Clients Just Dipped Their Toes Into Bitcoin ETFs, but Q4 Could See a FOMO Spike

Wealth management clients of Wall Street banks like Goldman Sachs, Bank of America, Morgan Stanley…

45 minutes ago

Bitcoin Volume Crashes 27% As Price Falls, What Does This Say About The Decline?

The Bitcoin volume has experienced a severe crash amidst its initial price momentum, falling by…

3 hours ago

Jack Mallers New Video About Bitcoin Scarcity is Right on the Money!

Follow Mark on X. Well, well, well—if it isn't Jack Mallers dropping truth bombs like…

4 hours ago

This OG Bitcoin Investor Just Turned $120 Into $178M

The user held BTC from when it was worth $0.06 all the way up to…

5 hours ago

Bitcoin Spot Is King – STH Selling Pressure Expected To Be Absorbed By ETFs

Bitcoin has experienced a whirlwind of volatility following its recent all-time high of $93,483 set…

5 hours ago

No, BlackRock Won’t Ossify Bitcoin

Follow Aaron on Nostr or X. In his Take from Wednesday, Shinobi argued that the surge…

5 hours ago