TechFlow, Bitcoin mining company Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced on Thursday that it has completed two financings totaling approximately $108 million to provide the company with additional liquidity and fund its business expansion in 2022.
The financing includes a loan of approximately $81.4 million provided by an affiliate of NYDIG, secured by a portion of Bitmain S19 J Pro Antminers to be delivered in 2022, as well as $26.5 million in secured notes provided by an affiliate of B. Riley Financial, Inc., secured by real property at Greenidge’s facility in Spartanburg, South Carolina.
"This is a transformative year for Greenidge, as we expect our data center capacity to more than triple to 4.7 EH/s, with the vast majority of our capacity expansion occurring outside of New York," said Jeff Kirt, Chief Executive Officer of Greenidge.
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