Greenridge Bitcoin Mining Going Carbon Neutral

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According to a press release sent to Bitcoin Magazine, Greenidge Generation Holdings’ bitcoin mining operations facility in Upstate New York will be entirely carbon neutral by June 1, 2021.

“Greenidge will purchase voluntary carbon offsets from a portfolio of U.S. greenhouse gas reduction projects,” according to the release. “Each project has been reviewed and certified by one of three well-recognized Offset Project Registries … ensuring that any projects funded by Greenidge reduce emissions or increase sequestration of greenhouse gas in a manner that is real, permanent, and verifiable.”

Greenidge Generation Holding Inc. is a holding company that includes Greenidge Generation LLC, its vertically-integrated bitcoin mining and power generation facility in Upstate New York. Its 106-megawatt natural gas plant allows Greenidge to mine bitcoin and contribute to the security of the Bitcoin network with reduced costs while meeting the power needs of homes and businesses in the Finger Lakes region.

“Our bitcoin mining capability is already best-in-class and seamlessly integrated with our electricity generation that powers thousands of homes and businesses,” Jeffrey Kirt, CEO of Greenidge Generation Holdings Inc, per the release. “By taking the bold and unique step of making our cryptocurrency mining fully carbon neutral immediately — as opposed to at some distant date in the future — Greenidge is once again leading in environmental efforts.”




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