Greenidge Generation announces $108M financing to fund expansion

Greenidge Generation (NASDAQ:GREE) closed 2 financings for ~$108M in gross proceeds to provide the company with additional liquidity to fund its 2022 growth. The financings are comprised of an ~$81.4M facility with an affiliate of NYDIG, secured by certain Bitmain ANTMINER S19 J Pro equipment delivering in 2022, and a $26.5M secured note with an affiliate of B. Riley Financial, secured by the real estate at GREE's facility in Spartanburg, South Carolina. "... we expect to more than triple our datacenter capacity to 4.7 EH/s, with the vast majority of the capacity expansion focused outside of GREE's original site in New York," said Greenidge CEO Jeff Kirt.