New York power plant sells 30% of its Bitcoin mining hashrate to institutional buyers

posted 6 months ago
Upstate New York power plant Greenidge Generation, that is using proprietary facilities to mine Bitcoin, has sold up to 30% of its computing power to institutional buyers.

The deal gives 106,000 terahashes per second (TH/s) of Bitcoin mining power to undisclosed buyers consisting of hedge funds and family offices, giving buyers a daily yield of about 1.8 BTC – worth around $13,000 – in addition to having the corresponding hardware pledged as collateral.
Tags: bitcoin, blockchain, news