Greenidge Stock Surges Following Environmental Permit Agreement

According to PANews, shares of Bitcoin mining company Greenidge soared over 35% on Monday after the company announced a significant agreement with New York state officials. The agreement secures a five-year renewal of a critical environmental permit. As part of the permit conditions, Greenidge has committed to significantly reducing its greenhouse gas emissions, aligning with New York State's climate objectives. The company has pledged to cut its authorized emissions by 44% by 2030. This target is consistent with a landmark climate law passed by New York State in 2019, which aims to reduce statewide greenhouse gas emissions by 40% from 1990 levels by 2030. The settlement with the New York State Department of Environmental Conservation concludes all litigation between the parties. Previously, in 2022, Greenidge had filed a lawsuit after being denied the permit renewal.