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In addition, Greenidge is actively pursuing a sale of excess real estate from its South Carolina mining facility. Any proceeds would go towards the note. If the miner is able to pay down $6 million or more prior to June, monthly payments would be trimmed to $400,000 from the currently
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The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet agreement, NYDIG will obtain 2.8 exahash per second (EH/s) of Greenidge’s mining capacity, and Greenidge further entered into a hosting deal with
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According to a new filing with the U.S. Securities and Exchange Commission on Dec. 20, Bitcoin (BTC) miner Greenidge stated that it reached an agreement with its creditor, fintech firm NYDIG, to restructure approximately $74 million worth of debt. The deal, in the form of a non-binding term sheet, would
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During October and November, Greenidge burned through $8 million a month, of which $5.5 million went on NYDIG payments. It expects the same cash burn rate for December, which would put a significant hole through its remaining $22 million of cash and cash equivalents. Original Source
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The mining firm also announced the appointment of David Anderson as its new CEO following the departure of Jeffrey Kirt effective Oct. 7. Anderson was most recently president and CEO of Millar Western Forest Products, an Alberta, Canada-based integrated forest products company. Source
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The bitcoin mining operation Greenidge Generation is seeking to raise roughly $22.8 million, according to a U.S.Securities and Exchange Commission (SEC) filing published Wednesday. According to the prospectus disclosing information, the New York-based Greenidge conducted a sales agreement with the investment firms B. Riley Securities and Northland Securities. Bitcoin Miner
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The company said the combination of falling bitcoin prices and high global energy prices presented a “challenging earnings environment.” Source
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Gov. Hochul has received a $40,000 donation from Ashton Soniat, the chairman and CEO of Coinmint, as well as $78,000 from Albany lobbying firm Ostroff Associates, which includes Blockfusion in its list of clients, The New York Times reported. The governor raised $10 million from mid-January to May, according to
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The company also said permission for its operations to continue at its New York facility has been delayed again. Source
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Bitcoin miner Greenidge Generation said fourth-quarter preliminary revenue rose 23% from the third quarter even as the number of bitcoins produced fell 16%.Greenidge said in a statement that fourth-quarter revenue rose to about $44 million compared with the third quarter’s $35.8 million.The Dresden, New York-based miner also said its hashrate
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