Seeking Alpha
2022-04-08 13:37:49

Greenidge Generation's crypto project to continue operations after ruling beat

Ecofriendly Bitcoin miner Greenidge Generation's (NASDAQ:GREE) Seneca Lake cryptocurrency project has won a New York Supreme Court ruling to continue operations, according to a release Thursday. Specifically, NY Supreme Court for Yates County judge Daniel J. Doyle ruled in favor of the miner on every issue before the court and dismissed the petition filed d by The Sierra Club and Seneca Lake Guardian. The company's ongoing construction project related to its datacenter "would not impact the air or water of Seneca Lake," the release read, adding that the petition lacked merit. Moreover, “Greenidge acted in good faith after receiving all the necessary approvals to begin construction on the project.” Note that the ruling is the fifth consecutive legal challenge Greenidge (GREE) has won since 2016, according to the release. "Various and overlapping opponents have now lost all five legal actions related to the facility and we properly sought and received all necessary approvals to

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.