Greenidge buys 8,300 bitcoin miners

Bitcoin mining company Greenidge Generation has announced the purchase of 2,300 WhatsMiner M30S mining rigs and a financing agreement to acquire 6,000 Antminer S19 machines through Foundry Digital, according to a press release sent to Bitcoin Magazine. In addition, the mining company announced that it will join Foundry USA’s bitcoin mining pool.

“Foundry is a long-time Greenidge hosting customer and this partnership expands our existing relationship as Greenidge grows outside of New York,” said Jeffrey Kirt, CEO of Greenidge, in the announcement.

The bitcoin mining company plans to increase its hash rate capacity with the new rigs and some of them are already up and running, the company said. Foundry has sold 1,800 of the WhatsMiner machines to Greenidge and expects the remainder of the equipment to be shipped in the fourth quarter of 2021. Of the funded Antminer units, around 5,000 units will be deployed and the other 1,000 are expected to arrive in the third quarter of 2021.

Greenidge also announced that upon joining, it will add about 800 petahashes per second (PH / s) of hash power to the Foundry USA pool. According to the press release, other Bitcoin miners who are already part of the pool are Blockcap, Hut 8, Bitfarms, Hive, BitDeer, Bit Digital and Foundry themselves.

“Greenidge pioneered the integration of clean power operations and carbon-neutral cryptocurrency mining in North America with its Upstate New York operation,” said Mike Colyer, CEO of Foundry, in the press release. “We look forward to offering Greenidge our world-class services tailored to institutional companies in the cryptocurrency mining industry.”

Bitcoin mining company HIVE also recently joined the Foundry USA Pool. The services Foundry offers its pool members include treasury management services, bitcoin-backed lending, and yield income from BTC holdings – which likely favors a HODL mentality among interested bitcoin miners.

Greenidge, which committed in May to fully offsetting its operational carbon emissions, also announced last week it would develop a new carbon-neutral facility. Greenidge’s second farm is to be built in South Carolina using a site previously used by a printing company.

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