DRESDEN, N.Y. and DUBAI, United Arab Emirates, Nov. 10,
2021 /PRNewswire/ -- Greenidge Generation Holdings Inc.
(NASDAQ: GREE) ("Greenidge") today announced it has been selected
by Bitmain as one of five global launch customers for Bitmain's
newly announced ANTMINER S19 XP. The S19 XP technology requires
approximately 27% less electricity per terahash than the most
efficient bitcoin mining equipment currently available in the
"We are excited to be chosen as a launch partner for this latest
release from Bitmain," said Greenidge's CEO Jeff Kirt. "The ANTMINER S19 XP demonstrates a
step-function increase in efficiency for our industry, and we are
excited to deploy this next generation technology at one of our
100% carbon-neutral facilities."
"Greenidge's commitment to carbon-neutral bitcoin mining makes
it the ideal launch partner for the ANTMINER S19 XP," said
Irene Gao, Bitmain Business
Development Director of the NCSA Region for Bitmain. "Like
Greenidge and many of our customers, Bitmain is dedicated to
improving the carbon footprint of the bitcoin mining industry. That
is why we're thrilled to announce not only the S19 XP but also
the green ANTMINER S19 XP. Bitmain is manufacturing a limited
addition of green ANTMINER S19 XP and is offsetting 100% of
the carbon footprint associated with the production and the first
year's operation of these miners by purchasing carbon offset
The launch order of green ANTMINER S19 XP miners will be
delivered in the third quarter of 2022. Greenidge intends to deploy
the units at a facility to be developed in South Carolina or Texas. This order brings Greenidge's current
and committed mining capacity to approximately 49,000 miners and
4.7 EH/s by the end of 2022. It also solidifies the company's
position as a leading environmentally conscious miner focused on
driving maximum efficiency of its fleet while maintaining a
The ANTMINER S19 XP has 21.5 joules/TH of efficiency compared to
Bitmain's previous S19 Pro technology of 29.5 J/TH. The units will
consume 27% less energy per terahash and will deliver 37% more
computing power per kilowatt hour than current technology.
About Greenidge Generation Holdings Inc.
Generation Holdings Inc. (NASDAQ: GREE) is a vertically
integrated bitcoin mining and power generation company. Greenidge
is committed to 100% carbon-neutral bitcoin mining at all of its
locations by utilizing low-carbon sources of energy and offsetting
its carbon footprint. Greenidge currently operates one facility in
upstate New York and plans to
expand operations to multiple locations in North America.
This press release includes
certain statements that may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
are forward-looking statements for purposes of federal and state
securities laws. These forward-looking statements involve
uncertainties that could significantly affect Greenidge's financial
or operating results. These forward-looking statements may be
identified by terms such as "anticipate," "believe," "continue,"
"foresee," "expect," "intend," "plan," "may," "will," "would,"
"could," and "should," and the negative of these terms or other
similar expressions. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance.
Forward-looking statements in this press release include, among
other things, statements regarding the business plan, business
strategy and operations of Greenidge in the future. In addition,
all statements that address operating performance and future
performance, events or developments that are expected or
anticipated to occur in the future, such as statements concerning
(i) the delivery of S19 XP Antminers currently on order with
Bitmain, (ii) the development of facilities in South Carolina or Texas, (iii) future mining capacity, (iv)
future electrical capacity, (v) the ability to offset carbon
emissions and (vi) the ability to obtain future debt or equity
financing, are forward-looking statements. Forward-looking
statements are subject to a number of risks, uncertainties and
assumptions. Matters and factors that could cause actual results to
differ materially from those expressed or implied in such
forward-looking statements include but are not limited to the
matters and factors described in Part II, Item 1A. "Risk Factors"
of Greenidge's Quarterly Reports on Form 10-Q, and its other
filings with the Securities and Exchange Commission. Consequently,
all of the forward-looking statements made in this press release
are qualified by the information contained under this caption. No
assurance can be given that these are all of the factors that could
cause actual results to vary materially from the forward-looking
statements in this press release. You should not put undue reliance
on forward-looking statements. No assurances can be given that any
of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do occur, the actual results,
performance, or achievements of Greenidge could differ materially
from the results expressed in, or implied by, any forward-looking
statements. All forward-looking statements speak only as of the
date of this press release and Greenidge does not assume any duty
to update or revise any forward-looking statements included in this
press release, whether as a result of new information, the
occurrence of future events, uncertainties or otherwise, after the
date of this press release.
SOURCE Greenidge Generation Holdings Inc.