Our Operations

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The facility that now operates as Greenidge Generation in Upstate New York began in 1937 as a coal-fired power plant, commissioned by New York State Electric and Gas Corporation. AES Corporation purchased the plant in 1999 which continued to operate until 2011. In 2014, a group of private investment funds sponsored and managed by Atlas Holdings LLC purchased the Greenidge plant and converted it to clean-burning natural gas.

This conversion established Greenidge as a leader in environmental stewardship, a legacy which continues with its transaction processing operation. Greenidge spent several years securing the necessary state and federal permits and approvals and underwent a rigorous environmental assessment in advance of resuming operations at its New York facility. Greenidge operates entirely within all relevant federal, state and local permits and ordinances for its facility, including a State Pollution Discharge Elimination System (SPDES) water permit and a Title V Air Permit. Greenidge operates entirely on natural gas, resulting in reduced greenhouse gas emissions, and the company has invested heavily in reliable, verifiable carbon offset credits to ensure it maintains net-zero carbon emissions in its bitcoin transaction processing operations.

The Greenidge facility provides a clean, reliable source of power to New York state’s energy grid: providing the electricity necessary to power up to 20,000 homes and businesses in the region in 2020 alone.

Greenidge has worked closely with the local community to ensure its operation is both environmentally sound and a critical piece of infrastructure serving the community’s energy needs and driving economic growth in the region. Between 2014 and 2020, Greenidge’s capital investments, directly and indirectly, supported approximately 200 jobs in New York State in construction and related industries, with over $13 million in employee earnings. During the 2020 COVID-19 pandemic, Greenidge’s spending supported over 80 businesses in the Finger Lakes Region of New York.

In July of 2021, Greenidge announced plans for its next bitcoin mining operation in Spartanburg, South Carolina. Greenidge plans to make use of existing electrical infrastructure at the location, with opportunities for continued growth.

Approximately two-thirds of the electricity at the site is sourced from zero carbon sources, such as nuclear power. Greenidge has committed to offsetting the operation’s remaining carbon footprint, building on its record in New York State of operating a fully carbon neutral mining business.

Greenidge expects to commence mining operations in Spartanburg in late 2021 or early 2022.