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For immediate release
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Filed by Greenidge Generation Holdings Inc.
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Support.com, Inc.
Commission File No.: 000-30901
Date: July 14, 2021
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Greenidge Partners with Foundry to Expand Bitcoin Mining Fleet with Latest Generation Mining Machines
Greenidge purchases 2,300 Whatsminer M30S machines, secures financing for 6,000 Antminer S19 units, and joins Foundry USA Pool
ROCHESTER, N.Y., July 14, 2021 Digital Currency Group (DCG)s cryptocurrency mining and staking-focused
subsidiary Foundry Digital LLC (Foundry) and Greenidge Generation Holdings Inc. (Greenidge) jointly announced Foundrys sale of approximately 2,300 Whatsminer M30S mining machines to Greenidge and financing for
Greenidges purchase of 6,000 Antminer S19 mining machines.
All 2,300 Whatsminer M30S units were previously operational at Greenidges
carbon-neutral bitcoin mining facility in Upstate New York. Foundry has sold 1,800 of these units to Greenidge and the remaining units will be transferred in Q4 2021. Of the financed Antminer S19 machines, approximately 5,000 units are in operation
and the remaining units are scheduled for delivery in Q3 2021.
By joining the Foundry USA Pool, Greenidge adds approximately 800 petahashes of computing
power to the pool, whose other major customers include Blockcap, Hut 8, Bitfarms, Hive, BitDeer, Bit Digital, and Foundry itself, among others. Foundry USA Pool provides some of the most competitive payouts, fees and services to institutions in the
cryptocurrency mining business, and is also seamlessly integrated with DCG-owned digital asset prime broker Genesis to provide users with various treasury management services, including high-security
custody, Bitcoin collateralized lending, yield earnings on BTC holdings, derivative products, and seamless liquidation.
Foundry has been a longtime
hosting customer of Greenidge and this partnership expands our existing relationship as Greenidge grows outside of New York, said Jeffrey Kirt, CEO of Greenidge.
On July 2, Greenidge announced plans to develop a new carbon-neutral bitcoin mining operation in Spartanburg, South Carolina. The Spartanburg site
will be the companys second mining facility in the United States as it seeks to expand to 500 MW of mining capacity by 2025.
Greenidge has
pioneered the integration of a clean power plant operation and carbon-neutral cryptocurrency mining in North America with its operation in Upstate New York, said Mike Colyer, CEO of Foundry. We look forward to providing Greenidge with
our best-in-class services that are tailor-made for institutional companies in the cryptocurrency mining industry.