Greenidge Generation says 90% of power sent to local grid last week

Greenidge Generation (GREE) announced more than 90% of the power generation from its Dresden, NY facility was sent to the local electrical grid during last week’s peak cold weather and peak demand on the local grid. “The power generated from Greenidge’s New York facility ensures electrical system reliability and helps keep power prices down for local residents and businesses,” the company said in a statement. It added, “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.”