Greenidge Generation spoke about its mining activities

The governor of New York State has not yet made a decision on the fate of bitcoin mining.
U.S. company Greenidge Generation. toldAccording to the results of August it was able to mine 301 BTC, thus the total amount of mining since the beginning of the year was 1771 BTC.
As of early September, the company had 24,500 mining machines and a corporate hash rate of 2.4 Eh/s. The company said that they focus on using only high-performance mining equipment, so about 5 thousand miners are idle, even though their inclusion could give another 0.3 Eh/s.
Excluding this equipment, the company has managed to get the organization’s on-site miners to 100% uptime in August and 99.9% since the beginning of the year. In New York, the company’s mining ecosystem includes a multipurpose power plant, which is also owned by Greenidge Generation.
From a legal standpoint, the governor of New York has not yet decided on a bill that would impose a two-year moratorium on cryptocurrency mining in the state. The bill was first approved in the state’s lower house, in April, and received approval in the New York Senate a month later, and went to the governor’s administration.
Such an unclear situation with the bill influenced the fact that Greenidge Generation decided to “freeze” its output in Texas for the time being. A congressman from that state recently Explainedin what he sees as the benefit of bitcoin mining to the Texas energy system.
In addition, the unclear future of mining in New York is affecting Greenidge Generation’s stock price, which trades on the Nasdaq exchange: it has lost 86.3% since the beginning of the year. Meanwhile, if the governor of New York vetoes the bill on a two-year moratorium on mining, we should expect a sharp surge in the value of these securities. In general, the Greenidge Generation securities are also influenced by the general market dynamics, when the Nasdaq Composite index has fallen by 22.5% since the beginning of the year.

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