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Greenidge Supplies Over 90% of Local Power Grid’s Electricity During Cold Snap

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More than 90% of the power generation from Greenidge Generation’s Dresden facility was sent to the local electrical grid during last week’s peak extreme cold weather and peak demand on the local grid. According to the vertically integrated cryptocurrency data center and power generation company, the power generated from Greenidge’s Yates County facility ensures electrical system reliability and helps keep power prices down for local residents and businesses.

“Due to the tens of millions in investments we’ve made here locally, we can seamlessly and instantly ramp up power generation to the grid and help ensure community needs are met – keeping everyone’s lights on and helping to prevent prices from spiking during sky-high energy demand in the extreme cold,” said Greenidge Generation President Dale Irwin. “It’s a fact that often gets ignored by the Manhattan interest groups who want to shut this facility down. Literally every minute we produce power, we’re sending power to the grid – it’s a part of our operating agreement. And we step up and increase production and the amount we send to the grid when it’s needed for the region.”

Greenidge can curtail its cryptocurrency mining operations in minutes and direct more of its power generation to the grid. Before the start of Greenidge’s approved crypto mining operations, the facility’s time from start-up to high-power generation for the grid was approximately 14 hours. Now, reaching high-power supply to the grid takes only minutes.

As part of the facility’s operating agreement with the New York Independent System Operator (NYISO), the Dresden plant sends power to the energy grid every single day and every single minute that it operates and will continue to send power to the grid every day Greenidge operates the facility.

“The supply and availability of power are critical drivers of economic growth in our region and across New York State,” said Steve Griffin, CEO of the Finger Lakes Economic Development Center. “Currently, there is not enough power to meet demand and relying entirely on renewable energy is not feasible to address both current and future needs. Greenidge Generation provides a reliable, always-available source of power, consistently supplying energy to the grid to support our homes and businesses. Shutting down Greenidge would further reduce supply on an already strained energy grid that urgently needs more power.”

“We need this facility to continue to operate, and this vicious arctic chill is yet another example why,” said Leslie Church, Chair of the Yates County Legislature. “In addition to the high-paying local jobs, opportunity and economic benefits we see in the region from Greenidge, the facility helps stabilize our electrical grid with a reliable source of energy.”

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