Agreement Includes Prospect of Up To 28 MW of
Mining Capacity
FAIRFIELD, Conn., March 15,
2023 /PRNewswire/ -- Greenidge Generation Holdings
Inc. (NASDAQ: GREE) ("Greenidge" or the "Company") a
cryptocurrency datacenter and power generation
company, announced today that it has executed a new hosting
agreement with Conifex Timber Inc. (TSX:CFF) ("Conifex").
Tsay Keh Dene Nation, a First Nation
with a traditional territory in north-central British Columbia, will be collaborating with
Conifex in supplying hosting services to Greenidge. Under the
initial agreement, Conifex will host 750 miners on behalf of
Greenidge with capacity of approximately 80 PH/s. The agreement
includes consideration for a potential expansion of 25MW of mining
capacity using renewable energy.
"Greenidge is working toward deploying up to 10,000 miners, and
this new partnership with Conifex is an important step in that
direction," said Dave Anderson,
Chief Executive Officer of Greenidge. "This project will expand our
operations and utilize renewable power to do it."
"Greenidge is a proven operator in the bitcoin
mining space and is an ideal partner for us as we expand our
hosting service business in northern British Columbia," said Ken Shields, Chairman and Chief Executive
Officer of Conifex. "We appreciate their confidence in us and look
forward to a successful partnership."
"Tsay Keh Dene Nation has been a
valued partner to Conifex in advancing the high-performance
computing project and they have been instrumental in securing
access to power for the project", Ken
Shields also noted. "We remain committed to building our
relationship with Tsay Keh Dene
and advancing additional high-performance computing projects
together."
About Conifex Timber Inc.
Conifex is a leading forest products company operating in one of
the richest fiber baskets in North
America, northern British
Columbia. One of its strengths is in the integration of a
biomass power plant with the Mackenzie sawmill. This bioenergy
plant takes residual fiber from the mill and forest that would
previously have been burned or decayed (producing GHG emissions in
the process) and generates clean energy for British Columbians.
Since the start of 2020, the Mackenzie sawmill has reduced the
amount of wood waste being landfilled by over 90% through
operational improvements and wood waste recovery transfer to its
biomass plant.
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a
vertically integrated cryptocurrency datacenter and
power generation company
Forward-Looking Statements
This press release includes certain statements that may
constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical fact are
forward-looking statements for purposes of federal and state
securities laws. These forward-looking statements involve
uncertainties that could significantly affect Greenidge's financial
or operating results. These forward-looking statements may be
identified by terms such as "anticipate," "believe," "continue,"
"foresee," "expect," "intend," "plan," "may," "will," "would,"
"could," and "should," and the negative of these terms or other
similar expressions. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance.
Forward-looking statements in this press release include, among
other things, statements regarding the business plan, business
strategy and operations of Greenidge in the future. In addition,
all statements that address operating performance and future
performance, events or developments that are expected or
anticipated to occur in the future are forward looking statements.
Forward-looking statements are subject to a number of risks,
uncertainties and assumptions. Matters and factors that could cause
actual results to differ materially from those expressed or implied
in such forward-looking statements include but are not limited to
the matters and factors described in Part I, Item 1A. "Risk
Factors" of Greenidge's Annual Report on Form 10-K for the year
ended December 31, 2021, in Part II,
Item 1A. "Risk Factors" of Greenidge's Quarterly Report on Form
10-Q for the period ended September 30,
2022, and its other filings with the Securities and Exchange
Commission. Consequently, all of the forward-looking statements
made in this press release are qualified by the information
contained under this caption. No assurance can be given that these
are all of the factors that could cause actual results to vary
materially from the forward-looking statements in this press
release. You should not put undue reliance on forward-looking
statements. No assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do occur, the actual results, performance,
or achievements of Greenidge could differ materially from the
results expressed in, or implied by, any forward-looking
statements. All forward-looking statements speak only as of the
date of this press release and Greenidge does not assume any duty
to update or revise any forward-looking statements included in this
press release, whether as a result of new information, the
occurrence of future events, uncertainties or otherwise, after the
date of this press release.
For further information, please contact:
Investor Relations
investorrelations@greenidge.com
Media Inquiries
media@greenidge.com
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SOURCE Greenidge Generation Holdings Inc.