The agreement is set to generate approximately $7.5 million in annual revenue according to Greenidge CEO Dave Anderson.
Greenidge Generation Holdings Inc. signed a hosting agreement with Core Scientific, Inc. Where Core Scientific will operate and house 6,914 Greenidge-owned miners at its facilities in Dalton, GA and Calvert City, KY.
“The agreement with Core Scientific complements this phase of our strategy to deploy the 9,150 miners that Greenidge owns, and we believe this agreement will significantly improve our profitability as we move forward,” said Greenidge CEO Dave Anderson. “We are very pleased to deploy miners to Core facilities, which have adequate energy costs and a track record of excellent operational performance.”
In addition to the Greenidge Hosting Agreement announce Installing an additional 1,500 company-owned miners at existing company facilities across the country. With the combination of these two initiatives and the previously announced agreement with Conifex Timber Inc. Greenidge expects to generate approximately $7.5 million in additional annual profits, according to Anderson.
Core Scientific co-founder Matt Minnes expressed his excitement about the partnership, saying, “Greenidge is an accredited operator in the industry, and we’re excited to partner with them and host miners. We think this is a win-win for Core and Greenidge.”
The hosting agreement is to be a one-year agreement between Greenidge and Core Scientific and includes a share-in-action component to recognize miner contribution by Greenidge and infrastructure and operational expertise provided by Core Scientific.