Bitcoin Miner With Own Power Plant Aims For Nasdaq Listing

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Another Bitcoin (BTC)-related stock might be available for investors on the Nasdaq exchange as the owner of the vertically integrated BTC mining and power generation facility in Upstate New York, Greenidge Generation Holdings (GGH), aims to go public. GGH, the owner of Greenidge Generation, said it agreed to merge with Nasdaq-listed Support.com, a provider of customer and technical support solutions. The deal is still subject to Support.com shareholder approval and other customary closing conditions, GGH said in an emailed announcement, adding that they estimate to finalize the transaction in the third quarter of this year. The pro forma combined company is currently expected to have combined net cash of at least USD 70m."Greenidge is expected to be the only US public company operating a vertically integrated power generation asset and Bitcoin mining operation and plans to replicate its vertically integrated mining model at other power sites and expects to achieve at least 500 MW of mining capacity by 2025," the company added. Its power plant in Upstate New York, for the 12 months ended on February 28, mined BTC 1,186 (USD 69m) at a net variable cost of approximately USD 2,869 per BTC, GGH said. At the time of writing (11:30 UTC), BTC trades at USD 57,969 and is up by 2% in a day.___Learn more: - Power Plant Mines BTC 5.5/day, Secures 'Unique Position' Ahead of Halving- Chinese Firms Get Bullish as Lottery Operator Renames Itself ‘BIT Mining’- Norwegian Giant Aker Goes Bitcoin, Defends BTC Mining, Eyes Micropayments- Bitcoin Mining in 2021: Growth, Consolidation, Renewables, and Regulation- IPOs, M&As, and New Token Sales To Bring Fresh Capital For Crypto in 2021- JPMorgan to Offer 'Crypto Exposure Basket', but Criticized as Not 'Crypto'


All data is taken from the source: http://cryptonews.com
Article Link: https://cryptonews.com/news/bitcoin-miner-with-own-power-plant-aims-for-nasdaq-listing-9626.htm


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