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

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