Greenidge Generation claims that the South Carolina facility can generate 80 megawatts of power, with two-thirds of that coming from carbon-free sources.
Greenidge Generation, a bitcoin mining startup, said that it would begin operations in South Carolina as soon as this year.
Greenidge announced on Friday that it will be operating in a carbon-neutral crypto mining operation in Spartanburg.
The company announced that it had announced its intention for a 10-year lease with LSC Communications, a printing firm on the outskirts of the South Carolina city, where it hopes to begin mining cryptocurrency “late 2021 or early 2022.”
Greenidge went on to say that the site can generate 80 megawatts (MW) of power, with two-thirds of that coming from carbon-free sources like nuclear power. Greenidge CEO Jeff Kirt said the move was a step toward the company developing “environmentally sound Bitcoin mining” in the US.
For its New York activities, the company currently has a power plant, which it plans to extend to 85 MW by 2022.
Despite Greenidge’s announcement that it wants to be a pioneer in “green power generation and cryptocurrency operations,” detractors such as the environmental group Seneca Lake Guardian allege that the company is just converting from coal to natural gas produced by fracking.
As Greenidge is considering mining in South Carolina, numerous corporations apparently fleeing China’s regulatory crackdown are establishing operations in Texas.
Blockware, a cryptocurrency mining company, announced on Thursday that it would expand its operations in Kentucky, which has some of the lowest industrial energy rates in the US.
