Greenidge Generation Holdings Inc., a bitcoin mining company based in Upstate New York, has announced a partnership with Foundry Digital LLC, the mining and staking subsidiary of Digital Currency Group. As part of the arrangement, Greenidge will join the Foundry USA mining pool, a move expected to contribute roughly 800 petahash per second, or 0.8 EH/s, of additional computing power to the pool.
Equipment purchases and financing expand mining capacity
Alongside the pool partnership, Greenidge said it has purchased 2,300 Microbt Whatsminer M30S machines and secured financing for 6,000 Bitmain Antminer S19 units. According to the announcement, the 2,300 Whatsminer rigs had already been operating at Greenidge’s facility in Dresden, New York. Foundry sold 1,800 of those machines to Greenidge, while the remaining units are expected to be transferred by the end of 2021.
For the Antminer S19 fleet, 5,000 machines were already online at the time of the announcement, with the remaining 1,000 units scheduled for transfer by the third quarter of 2021. The additional hardware strengthens Greenidge’s mining footprint as it scales operations.
Foundry USA deepens its North American presence
At the time referenced in the report, Foundry USA was the fifth-largest bitcoin mining pool globally, accounting for about 10.46% of the network’s total hashrate, or around 10.23 EH/s. Greenidge’s entry adds to a growing list of miners in the pool alliance, including Hive, Bitdeer, Bit Digital, Blockcap, Hut 8, and Bitfarms.
Greenidge CEO Jeffrey Kirt said Foundry had been a long-time hosting customer of the company, and that the new partnership expands an existing business relationship as Greenidge grows beyond New York.
Carbon-neutral mining remains central to growth strategy
The partnership also aligns with Greenidge’s broader expansion plans. The company said it was developing a carbon-neutral mining facility in Spartanburg, South Carolina, expected to be ready in 2021 or early 2022. That site would become Greenidge’s second U.S. mining facility as the company works toward a target of 500 MW of mining capacity by 2025.
Foundry CEO Mike Colyer said Greenidge had helped pioneer the integration of clean power plant operations with carbon-neutral cryptocurrency mining in North America. For Foundry, the agreement not only increases pool hashrate but also reinforces its strategy of serving institutional-scale mining companies.