American company acquires 8 thousand Bitcoin mining equipment

Key facts:

With the new equipment, Greenidge hopes to expand his hash rate by 800 petahashes.

Mining pool and advisory company Foundry will deliver the equipment later this year.

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

“Foundry has been a Greenidge hosting customer for a long time and this association expands the relationship existing as our business grows outside of New York, “Greenidge CEO Jeffrey Kirt said in a statement on July 14.

Bitcoin mining company plans significantly increase your hash rate with new equipment. 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 units of Whatsminer M30S already operating at Greenidge’s Bitcoin mining facility in New York, Foundry made official the sale of 1,800 of these units. The remaining units will be transferred in the fourth quarter of the year, they say.

Regarding the financing of the Antiminer S19 machines, around 5,000 are already in operation and the rest will be delivered during this third quarter of 2021.

It is worth remembering that mining companies such as 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 collateralized loans, and performance generation on BTC trends. This with the idea of foster the hodl mindset among interested bitcoin miners.

For his part, Greenidge has said he is trying to lessen 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 said recently.

Greenidge’s carbon footprint

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

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

All this 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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