Greenidge plans to expand mining operations to South Carolina

Bitcoin mining firm Greenidge Generation introduced it might be beginning operations in South Carolina as early as this 12 months.

In a Friday announcement, Greenidge said it might be working in a carbon impartial crypto mining facility within the metropolis of Spartanburg. The firm mentioned it had signed a letter of intent for a 10-year lease with printing agency LSC Communications’ location on the outskirts of the South Carolina metropolis, the place it plans to begin mining crypto “in late 2021 or early 2022.”

According to Greenidge, the placement has been able to drawing 80 megawatts (MW) of energy, two thirds of which is produced from zero carbon sources together with nuclear vitality. Greenidge CEO Jeff Kirt mentioned it was a step in the direction of the corporate creating “environmentally sound Bitcoin mining” within the United States.

The agency already owns an influence plant for its New York operations, which it intends to expand to 85 MW by 2022. However, regardless of Greenidge saying its intention to be a pacesetter in seemingly inexperienced “energy technology and cryptocurrency operations,” critics just like the environmental group Seneca Lake Guardian have claimed that Greenidge is simply switching from utilizing coal for its mining operations to pure fuel produced from fracking.

Related: South Carolina Senate Recognizes Blockchain as Critical Emerging Tech

While Greenidge is wanting in the direction of South Carolina for mining, many corporations reportedly fleeing the regulatory crackdown in China have been turning to Texas to set up operations. Crypto mining agency Blockware introduced on Thursday that it might be increasing its operations in Kentucky, which has among the lowest industrial vitality prices within the United States.