Greenidge Generation Raises $6 mn To Support Expansion Plans
Greenidge Generation Holdings, a cryptocurrency data center and power plant operator, has raised $6 million to fund its growth plans.
The cash injection will come from New York-based investment fund Armistice Capital. The funding will support Greenidge’s expansion into low-cost power centers and bitcoin mining, as well as the development of new AI infrastructure and data centers.
The deal also aims to boost interest in bitcoin. Armistice Capital will initially invest $6 million in a combination of 1,260,505 shares and pre-funded warrants priced at $4.76 per share, with warrants to purchase an additional 1,260,505 shares for an aggregate price of $6.62 million.
(With inputs from Shikha Singh)
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