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09/17/2025 – 04:00 PM
PITTSFORD, N.Y. – Greenidge Generation Holdings Inc. (Nasdaq: GREE), a player in the vertically integrated cryptocurrency datacenter and power generation space, announced the completion of the sale of its bitcoin mining facility in Columbus, Mississippi, to US Digital Mining Mississippi LLC on September 16, 2025. The deal, valued at $3.9 million and subject to standard adjustments and expenses, signals a strategic shift for Greenidge in a volatile cryptocurrency market.
The sale comes at a time when bitcoin mining profitability is under pressure due to fluctuating cryptocurrency prices, increased energy costs, and rising network difficulty. Greenidge, like many miners, has been navigating these headwinds. This divestiture could allow Greenidge to streamline its operations and focus on potentially more profitable aspects of its vertically integrated business model, such as power generation or other datacenter applications.
Analysts at CNBC noted that this move could also be interpreted as a sign of consolidation within the bitcoin mining industry. As the market matures, smaller players may find it increasingly challenging to compete with larger, more efficient operations. The sale of the Columbus facility suggests that Greenidge is adapting to this evolving landscape by optimizing its asset portfolio.
From a technical perspective, the facility’s infrastructure and power capacity are key considerations. US Digital Mining Mississippi LLC’s acquisition could indicate their confidence in the long-term prospects of bitcoin mining or a strategic move to expand their own mining footprint. The terms of the sale, particularly any power purchase agreements or infrastructure guarantees, will likely play a crucial role in the facility’s future profitability under its new ownership.
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (Nasdaq: GREE) operates as a vertically integrated power generation company, with a focus on cryptocurrency mining, infrastructure development, and the complete lifecycle management of its sites, encompassing engineering, procurement, construction management, operations, and maintenance.
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