Greenidge Generation plans to invest $264M for crypto datacenter in South Carolina

Eco-friendly cryptocurrency miner Greenidge Generation Holdings (NASDAQ:GREE) wants to form a new crypto datacenter in Spartanburg County, South Carolina, for a $264M investment. The company expects the facility to have at least 100 megawatts of datacenter capacity when fully developed, the company says. The investment will create 40 new tech-sector jobs. The first phase of the project is expected to be online in the second half of 2022, with additional expansions to reflect this investment through 2025. Moreover, "the site is ideal, with an energy mix that is more than 60% carbon-free, opportunities for additional growth and a business-friendly climate," says Greenidge CEO Jeff Kirt. Meanwhile, shares of GREE slide more than 3% out of the gate even as bitcoin (BTC-USD +6.2%) takes a breather following wild volatility. Previously, (Jan. 7) Greenidge generated 168% growth in Q4 bitcoin production.