Crypto company’s stock soars after game-changing agreement: ‘Historic’
Shares of the cryptocurrency-mining company Greenidge Generation Holdings surged after an agreement with the New York State Department.
The accord with the office’s Environmental Conservation team to renew an air permit for the company’s natural gas power plant near Dresden led to a 40% share-price boost to $2.12 each, TheStreet reported.
The five-year agreement has ended a years-long legal battle (and lots of opposition from local environmentalists) and allows the natural-gas-powered facility to continue operating under stricter environmental rules.
Under the new permit, Greenidge must reduce its potential planet-warming pollution by 44% and its actual pollution by 25% by 2030.
These requirements exceed the…
