Greenidge Bitcoin mining Firm listed on Nasdaq. The company’s shares will run under the GREE ticker. The listing will occur on Sep. 15, after the merger with Support.com.
The Greenidge bitcoin mining firm will be listed on the Nasdaq stock exchange on Sept 15, in accordance with an SEC filing.
Greenidge, a bitcoin mining and power generation firm that operates in New York, will be listed on Nasdaq on Sept 15. An SEC filing reveals that the corporate’s shares will run under the GREE ticker, and the news follows a previous update that disclosed a merger transaction to be completed on Sept 14.
Greenidge and Support.com, which is listed on Nasdaq, merged in March 2021. The closure of this deal implies that the mining firm can move on with its public listing. Support.com is a buyer and technical support solutions platform delivered by home-based employees.
The corporate has raised some issues with respect to its operations, chiefly environmental in nature. Residents of New York have additionally complained about the alleged results the ability has had on a nearby lake. Given the furor over power consumption, it’s unsurprising that Greenidge is taking steps to counter the effects.
Greenidge additionally expects to develop to the state of South Carolina within the coming months. Moreover, it’ll additionally make investments a portion of its mining profits into renewable power initiatives. The majority of power for this mining facility will use zero-carbon sources, which is an efficient signal that’s indicative of a bigger development.
Companies moving in direction of green energy for bitcoin mining
Greenridge mentioned that it intends to be carbon-neutral in May 2021 and that effective Jun. 2021, it had completed so for its New York facility. That is an unsurprising improvement, on condition that the mining industry has come under fireplace for its electrical energy consumption. Quite a few corporations have determined to maneuver in direction of greener options.
This overall initiative to move bitcoin mining in direction of more sustainable processes and greener sources of power is being spearheaded by the likes of the Bitcoin Mining Council. The latter has Michael Saylor of MicroStrategy as considered one of its head members, and he has vowed to make the change come true. This is only one of many initiatives taken by entities the world over to scale back carbon output.
Bitcoin’s power consumption continues to be a thorn in its overall reputation. However the silver lining is that there’s a noticeable shift in direction of green energy. This could maybe put out a few of the points brought on by the environmental impact.
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Source: Beingcrypto
