Greenidge Generation Invests $264M in New Crypto Mining Venture

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Crypto mining company Greenidge Generation has announced it intends to build a data center for mining cryptocurrencies in South Carolina (USA). According to the company, it plans to invest about $264 million in the project.

The facility, which is located in Spartanburg County, is expected to create 40 new jobs. Its power consumption after the completion of construction will reach at least 100 MW. The launch of the first phase of the project is expected to happen in the second half of 2022, while further expansion will continue until 2025.

The company ordered in October 2021 22.500 ASIC miners for deployment at new sites in Texas and South Carolina.

Greenidge Generation has previously said that the Spartanburg facility will be completely carbon neutral.