Greenidge buying 8,300 Bitcoin mining rigs from Foundry

Greenidge Generation Holdings, an upstate New York bitcoin mining firm, is acquiring 8,300 mining rigs in a new partnership with Foundry.

Greenidge buying 8,300 Bitcoin mining rigs from Foundry

According to the release, The Bitcoin mining firm is buying 2,300 Whatsminer M30S mining machines from Foundry.

The mining rigs have been operating in Greenidge's facility. The sale transfers their ownership to Greenidge from Foundry, said Nishant Sharma, founder of BlocksBridge Consulting, a PR firm that represents both Greenidge and Foundry.

Foundry is also financing Greenidge's purchase of 6,000 Antminer S19s, 5,000 of which are already in operation, according to the release. The remaining 1,000 are scheduled for delivery in Q3. 

By joining Foundry USA Pool, the company is adding 800 petahash to the pool's hashpower. It is unclear whether the added hashpower is referring to all of the 8,300 total machines.

Greenidge is trying to clean up bitcoin’s environmental impact, using low-carbon sources of energy and carbon offsets, the company claims. The mining firm owns a natural gas energy plant in New York that powers its nearby mining facility.

Founded in August 2020 by Digital Currency Group (DCG) with a $100 million investment, Foundry is trying to boost North America's hashpower as China's crackdown on crypto mining is providing plenty of room in the mining industry.

Read: Italian finance regulator issues warning against Binance

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