Greenidge Generation mined roughly 18% more bitcoin in June
Quick Take
- Greenidge Generation mined 230 bitcoin in June, up from 195 in the previous month.
- The bitcoin miner had a hash rate of 2.5 exahash per second (EH/s) as of June 30, with a mining fleet of 27,500 machines.
Bitcoin miner Greenidge Generation mined 230 bitcoin in June — a roughly 18% month-over-month increase.
The company increased its hashrate from 1.7 (EH/s) at the end of May to 2.5 EH/s now, according to a production update posted Monday.
Greenidge's mining fleet totaled 27,500 machines as of June 30. Around 24% of the company's hash rate was located at its most recent facility in Spartanburg, South Carolina.
Greenidge has said that it planned to triple its US mining capacity this year, expanding mostly outside of New York, where it currently operates a 106-megawatt natural gas facility.
A few days ago, the company saw its air permit renewal denied by New York's Department of Environmental Conservation for failing to comply with greenhouse gas emissions limits set by the state.
The company already said that it would challenge the regulator's decision and continue to mine in the meantime.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.