Bitcoin Mining Company Greenidge To List On Nasdaq Under GREE Ticker

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Bitcoin mining company Greenidge will be listed on the Nasdaq stock exchange on September 15, according to an SEC filing.

Greenidge, a bitcoin mining and power generation company that operates in New York City, will be listed on the Nasdaq on September 15. An SEC filing shows that the company’s shares will operate under the symbol GREE, and the news follows a previous update that revealed a merger transaction due to close on September 14.

Greenidge and Support.com, which is listed on the Nasdaq, merged in March 2021. The closing of the deal means the mining company can continue to go public. Support.com is a platform for customer and technical support solutions provided by home-based workers.

The company has expressed some concerns about its operations, mainly of an environmental nature. New York residents have also complained about the alleged effects of the facility on a nearby lake. Given the furore over energy use, it’s no surprise that Greenidge is taking action to counter the effects.

Greenidge also plans to expand to the state of South Carolina in the coming months. In addition, it will also invest a portion of its mining profits in renewable energy projects. The majority of the electricity at this mining facility will use zero carbon sources, which is a good sign indicating a broader trend.

Companies are moving towards green energy for bitcoin mining

Greenridge said it intends to be carbon neutral in May 2021 and that as of June 2021 it has done so for its New York plant. This is an unsurprising development, given that the mining industry has been criticized for its consumption of electricity. Many companies have decided to move towards greener solutions.

This global initiative to move bitcoin mining towards more sustainable processes and greener energy sources is led by the Bitcoin Mining Council. The latter has Michael Saylor of MicroStrategy as one of its core members, and he is committed to making change a reality. This is just one of many initiatives taken by entities around the world to reduce carbon production.

Bitcoin energy consumption continues to be a thorn in its overall reputation. But the silver lining is that there is a noticeable shift towards green energy. Perhaps that should eliminate some of the problems caused by environmental impact.

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