Greenidge New York Facility Unaffected by Legislation
Operations Will Continue Uninterrupted
Greenidge Statement:
"The bill language plainly states, and the bill's original sponsor has confirmed, that the legislation will not apply to Greenidge's operations. Should the legislation be signed into law, our fully permitted power generation and cryptocurrency data center in
"Specifically, Section 7 of the bill text reads: 'This act shall take effect immediately and shall apply to all permits or renewal applications filed after such date.'
"Greenidge's renewal application was filed on March 5, 2021 and the application was formally recognized by the
Comments from the bill's original sponsor, Assemblymember Anna Kelles to the
"Dr. Kelles's bill would for two years prohibit the issuance or renewal of air quality permits for the purpose of crypto mining. The Greenidge plant would be grandfathered in, she said."
News report from Politico New York on
"The bill, which has passed the Assembly and needs approval in the state
About
Forward-Looking Statements
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. In addition, all statements that address operating performance and future performance, events or developments that are expected or anticipated to occur in the future, such as statements concerning the impact of the Bill on Greenidge's operations and the ability of Greenidge's operations to be grandfathered under the bill, 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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SOURCE
Investor Relations, investorrelations@greenidge.com; Media, media@greenidge.com