thecoinrepublic.com
- Bitcoin mining company Greenidge to list on Nasdaq on Sept 15
- It will merge with Support.com as the latter will pay $33 million in extra money
- South Carolina plant an ideal target for expansion of Greenidge
Bitcoin mining and force age organization Greenidge is set to finish a consolidation with client and specialized help arrangements supplier Support.com to turn into the most recently openly recorded mining firm.
When the consolidation exchange is finished, Support.com Inc. will turn into a completely claimed auxiliary of Greenidge Generation Holdings Inc. The new substance’s Class An offers will exchange under the ticker GREE.
As indicated by a Sept. 13 declaration distributed by the SEC, the consolidation is relied upon to become powerful by market close the next day. The consolidation, settled as a stock-for-stock exchange, will see each offer in Support.com Inc. consequently changed over into the appropriate for its carrier to get 0.115 Class A Greenidge shares.
Proven consolidation
CEO expressed that this consolidation is a significant subsequent stage for Greenidge as we expand upon our current, incorporated and demonstrated stage for Bitcoin mining and age of lower carbon moderate force.
As indicated by a March 22 articulation that originally declared the arranged consolidation, Support.com will likewise give Greenidge $33 million in extra money.
This exchange will expand upon Greenidge’s effective business by giving them extra money financing and a public cash to finance their development plans, just as significant new capacities including client interface, security programming, and protection ability, said Support.com’s leader and CEO, Lance Rosenzweig.
Endless supply of the consolidation, Kirt will lead the joined organization as CEO. Rosenzweig, will stay in his situation as CEO of the current Support.com business, which will keep on working in the conventional course as an entirely claimed auxiliary of Greenidge.
South Carolina plant
In July, Greenidge reported its obligation to turn into a 100% carbon-unbiased Bitcoin mining activity by buying willful carbon balances from an arrangement of U.S. ozone harming substance decrease projects.
The firm additionally means to use low-carbon wellsprings of energy at its office in Upstate New York, and offset the carbon impression of its new South Carolina plant by sourcing power from zero-carbon sources.
This latest improvement cements that the consolidation will truth be told to happen on schedule, with the extra detail that Greenidge Class A typical stock with the ticker image “GREE” will go live on NASDAQ on September 15.
Greenidge Generation Holdings is a New York-based bitcoin mining activity that has an expected 41 MW bitcoin mining limit and 1.1 EH/s figuring power as of June, The Block recently revealed. The firm promised to go carbon nonpartisan through carbon balancing in June of this current year, and reported its arrangement to extend bitcoin mining activities into South Carolina in July.