Greenidge Signs Hosting Agreement with Core Scientific for 6,914 Greenidge-Owned Miners to Be Operated at Core Scientific's Facilities in
Greenidge Announces the Installation of 1,500 Additional Miners in its Existing Facilities Across the Country
Initiatives Represent Incremental Annual Profit of ~
"The agreement with Core Scientific completes this phase in our strategy to deploy 9,150 miners Greenidge owns, and we believe this agreement will significantly improve our profitability as we move forward," said
"In addition, our team has shown tremendous creativity in constructing new miner slots at our facilities across the country, allowing us to capitalize on low natural gas prices in the
"Greenidge is a proven operator in this industry, and we're excited to partner with them and host their miners," said Matt Minnis, Co-Founder of Core Scientific. "We believe this is a win-win for Core and Greenidge."
- One-year agreement between Greenidge and Core Scientific to host miners owned by Greenidge.
- Includes a proceed-sharing component to recognize the contribution of miners by Greenidge and the infrastructure and operating expertise provided by Core Scientific.
This press release includes certain statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect Greenidge's financial or operating results. These forward-looking statements may be identified by terms such as "anticipate," "believe," "continue," "foresee," "expect," "intend," "plan," "may," "will," "would," "could," and "should," and the negative of these terms or other similar expressions. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Forward-looking statements in this press release include, among other things, statements regarding the business plan, business strategy and operations of Greenidge in the future, including increases in EBITDA. In addition, all statements that address operating performance and future performance, events or developments that are expected or anticipated to occur in the future are forward looking statements. Forward-looking statements are subject to a number of risks, uncertainties and assumptions. Matters and factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include but are not limited to the matters and factors described in Part I, Item 1A. "Risk Factors" of Greenidge's Annual Report on Form 10-K for the year ended
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