Bitcoin mining company Greenidge Generation has announced that it will begin operations in South Carolina this year.

In an announcement on Friday, Greenidge said it will be working on carbon-neutral crypto mining in Spartanburg. The company said it has signed a letter of intent for a 10-year lease agreement with print company LSC Communications in suburban South Carolina, where it plans to begin mining cryptocurrency “in late 2021 or early 2022.”

According to Greenedge, the facility can consume 80 megawatts of electricity, two-thirds of which comes from zero-carbon sources, including nuclear power. Greenidge CEO Jeff Kurt said it’s a step toward “green bitcoin mining” for the company in the US.

The company already has a power plant for its New York operations, which it plans to expand to 85 megawatts by 2022. Although Greenidge has announced its intent to become a leader in visible green “power generation and cryptocurrency,” it is a critic of the environment. Seneca Lake Guardian Group said Greenedge is just switching from coal mining to natural gas from hydraulic fracturing.

On the topic: Blockchain technology is recognized by the South Carolina Senate as an important new technology

While Greenidge pursues mining operations in South Carolina, several companies have reportedly escaped Chinese interference and turned to Texas to start their own businesses. Crypto Blockware miner announced Thursday that it will expand its operations in Kentucky, where industrial energy costs are among the lowest in the United States.

Source: CoinTelegraph

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