Greenidge Generation Holdings Inc GREE

Technology Software - Application

Greenidge Generation Holdings Inc. is a vertically integrated cryptocurrency datacenter and power generation company. The Company owns and operates facilities at two locations: the Town of Torrey, New York, and Spartanburg, South Carolina. The Company operates through a cryptocurrency datacenter and power generation operations segment. The Company’s cryptocurrency datacenter operations earn bitcoin as rewards and transaction fees for supporting the global bitcoin network with application-specific integrated circuit computers (ASICs or miners) owned or leased by the Company. The Company also owns and operates a 106-megawatt (MW) power facility that is connected to the New York Independent System Operator (NYISO) power grid. The Company sells electricity to the NYISO at all times when its power plant is running and increases or decreases the amount of electricity sold based on prevailing prices in the wholesale electricity market and demand for electricity.