Greenidge Generation Holdings reported a fire at its Bitcoin mining facility in Dresden, New York, co-hosted with NYDIG, due to an electrical switchgear failure. The incident, disclosed in an SEC filing, led to the de-energization of the entire facility. Despite the disruption, mining rigs were undamaged, and operations are expected to resume within weeks.
The Dresden site, generating 106 megawatts of natural gas energy, highlights the operational challenges faced by commercial miners, including supply chain issues and high energy costs. The fire adds to the industry's current difficulties, with hash prices recently dropping to $35 PH/s amid Bitcoin's price fluctuations, affecting miner profitability.
Fire Disrupts Greenidge Mining Facility, Operations to Resume in Weeks
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