Reading time: ~2 m
In the first quarter of 2022, the income of the Holding Greenidge Generation, consisting of a cryptocurrency data center and an electricity production company, amounted to $ 37.7 million
Holding Greenidge Generation increased revenue for the first quarter of 2022 by 240%, compared to the same period of time in 2021. In the first three months of 2022, the firm mined about 561 BTC, which brought it $ 23.2 million, which is 158% more than in the fourth quarter of last year, follows from the company’s report.
Greenidge Generation owns a hybrid power plant in the state of New York, on the territory of which the main mining facilities are located. At the end of March, the company’s equipment fleet amounted to about 19.4 thousand miners with a total hashrate of about 1.6 EH / s.
The company owned about $126 million of liquidity, consisting of approximately $98 million in cash and cryptocurrency assets and about $28 million of unfulfilled financial obligations. Also, an additional $ 135 million was on deposit in Bitmain.
The report included operational data for April: about 197 bitcoins were mined during the month, and the number of miners increased by 200 pieces.
In March, the company announced raising another $ 108 million for the purchase of additional equipment to increase the total hashrate to 4.7 EH / s.
#Mining #firm #Greenidge #Generation #increased #quarterly #revenue