Greenidge Generation Holdings has expanded its Bitcoin mining capabilities in Mississippi following the launch of a new site. The cryptocurrency data center and power generation company acquired the 12-acre property in Mississippi earlier this year and built a site using its Greenidge Pod X.
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The site went live on July 1. In a post on the X platform, Greenidge revealed the site has a deployment of 2,400 Bitcoin miners and expects to increase capacity in the coming months.
The firm wants to explore other opportunities
The company expects to deploy the first shipment of Antminer S21 Pro Bitcoin miners across active sites. This will also further increase its mining capacity.
Greenidge currently has access to 8.5 MW of energy at the site but there are plans to reach at least 25 MW of additional power within the next year to further boost its overall power capacity. Plans are underway to complete the planned lease of the on-site warehouse beginning of September.
This comes as the company indicated it wants to explore other opportunities to develop, purchase lease or sell properties to bolster its growth strategy.
- “We look forward to increased utilization of our pod and infrastructure solution within the industry to help propel our growth.”
Greenidge.
“With potential future expansion of at least 25 MW in Mississippi, other drivers for growth are on the horizon,” added the company.
With the addition of Mississippi, the company now has 122 MW of total power across four Bitcoin mining facilities in the US and Canada with about 8,000 miners in operation.
We are pleased to announce the recent deployment of 2,400 miners at our new Bitcoin mining site in Mississippi. Utilizing the NEC-compliant Greenidge Pod X helped reduce buildout costs and increase efficiency of the new mining site.
We look forward to increased utilization of… pic.twitter.com/OoothIreBB
— Greenidge Generation Holdings Inc (@Greenidge_GREE) July 11, 2024
Greenidge Pod X transformed the business
Apart from the Mississippi site, the company recently acquired 60 MW of future low-cost power in South Carolina, in addition to a 7.5 MW of mining capacity in North Dakota.
The company launched its Greenidge Pod X in June to provide the industry with crypto mining infrastructure solutions. This was also meant to give miners an innovative design that is effective and efficient.
Also read: Greenidge Generation settle major debt and sells SC mining facility to NYDIG
Greenidge CEO Jordan Kovler said on Thursday that the Pod X launch helped transform the business, enhancing efficiency.
“With the introduction of the Greenidge Pod X, we have now reached a key inflection point that will further benefit our long-term growth trajectory.”
Kovler.
According to Stock Titan, the Greenidges Pod X has a capacity of 792 miners, representing 35% more than other pod makers offering one of the “lowest pod and infrastructure $/kW cost ratios in the industry.”
The company has deployed the Pod X across its sites in New York, North Dakota, South Carolina, and now Mississippi.