Bitcoin Miner Greenidge Generation Holdings Inc. and Support.com, Inc. (Nasdaq: $SPRT) Announce Merger Agreement
Greenidge expects to achieve calendar year 2021 EBITDA in excess of $50 million and a run rate in excess of $160 million of EBITDA by Q4 20221
Hashrate of 1.1 exahash per second (“EH/s”), which is expected to grow to 2.6 EH/s in 20222
Based on its current buildout and expansion expectations, Greenidge expects to have at least 500 megawatts (“MW”) of mining capacity by 2025, compared to 19 MW today
Support.com, Inc. (“Support.com”) is expected to provide Greenidge with an estimated $33 million of additional cash.
Pro forma for the merger, the combined companies currently have over $70 million of net cash
Upon completion of merger
The merger is expected to close in Q3 2021
Greenidge is expected to be the only U.S. public company operating a vertically integrated power generation asset and bitcoin mining operation.
www.businesswire.com...nce-Merger-Agreement
Greenidge expects to achieve calendar year 2021 EBITDA in excess of $50 million and a run rate in excess of $160 million of EBITDA by Q4 20221
Hashrate of 1.1 exahash per second (“EH/s”), which is expected to grow to 2.6 EH/s in 20222
Based on its current buildout and expansion expectations, Greenidge expects to have at least 500 megawatts (“MW”) of mining capacity by 2025, compared to 19 MW today
Support.com, Inc. (“Support.com”) is expected to provide Greenidge with an estimated $33 million of additional cash.
Pro forma for the merger, the combined companies currently have over $70 million of net cash
Upon completion of merger
The merger is expected to close in Q3 2021
Greenidge is expected to be the only U.S. public company operating a vertically integrated power generation asset and bitcoin mining operation.
www.businesswire.com...nce-Merger-Agreement