US company acquires 8 thousand Bitcoin mining equipment

Key facts:
  • With the new equipment, Greenidge hopes to expand its hash rate by 800 petahashes.

  • The mining advisory and pool company, Foundry, will deliver the equipment over the course of this year.

Bitcoin mining-focused financing and advisory firm Foundry Digital LLC announced a partnership with power generator and miner Greenidge; this alliance would allow the sale of 2,300 Whatsminer M30S machines and financing the acquisition of 6,000 Antminer S19 miners.

“Foundry has been a customer of web host of Greenidge for a long time and this partnership expands the relationship existing as our company grows outside of New York, ” Greenidge CEO Jeffrey Kirt said in a statement, July 14.

Bitcoin mining company plans significantly increase your hash rate with new computers. According to the statement, the alliance with Foundry, which is also a mining pool, represents for Greenidge a increase of approximately 800 petahashes per second (PH/s) of computing power.

The publication adds that, despite 2,300 Whatsminer M30S units already operating at Greenidge’s Bitcoin mining facility in New York, Foundry formalized the sale of 1,800 of these units. The remaining units will be transferred in the fourth quarter of the year, they say.

In connection with the financing of S19 Antiminer machines, around 5,000 already operational and the remaining will be delivered during this third quarter of 2021.

It is worth remembering that mining companies like Blockcap, Hut 8, Bitfarms, Hive, BitDeer and Bit Digital are part of the Foundry Digital group, a subsidiary of Digital Currency Group that offers treasury management services, bitcoin-backed lending and BTC trend yield generation. This with the idea of foster hodl mentality among interested bitcoin miners.

For his part, Greenidge has said he’s trying to slow down the environmental impact of Bitcoin mining, using “low carbon energy sources” and carbon offsets. “The company has pioneered the integration of a clean power plant operation and carbon neutral cryptocurrency mining in North America,” Foundry CEO Mike Colyer recently said.

Greenidge’s carbon footprint

As we reported in CriptoNoticias, last May Greenidge announced that “starting in June it would offset 100% of CO2 emissions” resulting from Bitcoin mining. However, a few days ago they were accused by Upstate New Yorkers that their bitcoin mining activities had turned a 12,000-year-old glacial lake in a”hot tub”.

Greenidge he denied the accusations. According to a statement “data taken from March 1 to April 17 of this year”, the temperature of the lake is 9.7 ºC, a figure that represents only an increase of 3.7 ºC since the beginning of mining in the region, 18 months ago. In the brief they pointed out that Greenidge complies with all the permits granted in terms of water and air, assuring, that the assertions of the inhabitants are false.

This whole debate around Bitcoin mining has resurfaced after statements by Tesla co-founder and CEO Elon Musk, who accused cryptocurrency mining companies of not adopt ecological measures that reduce your carbon footprint.

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