Greenidge Secures Title V Permit with Ambitious 44% Emissions Reduction by 2030

International Brotherhood of Electrical Workers in New York (IBEW) Commends the Agreement

Settlement Resolves All Legal Disputes and Confirms Greenidge’s Compliance with the State’s Climate Act

DRESDEN, N.Y.–(BUSINESS WIRE)–Greenidge Generation Holdings Inc. (NASDAQ: GREE) (“Greenidge” or the “Company”) has announced a landmark renewal agreement for its Title V Air Permit for the Dresden, NY facility, allowing it to sustain its significant contributions to the local energy grid while operating as a model datacenter.

The agreement, finalized with the New York State Department of Environmental Conservation (“NYSDEC”), states that Greenidge will receive a Final Title V Air Permit. The new emissions standards align with New York’s Climate Leadership Community Protection Act. Greenidge continuously contributes power to the Upstate New York grid, a mandate of its agreement with the New York Independent System Operator (NYISO), enhancing grid reliability particularly during peak demand.

The pace at which Greenidge can switch to high-power generation has dramatically improved, now taking just minutes compared to 14 hours before the company’s approved crypto mining operations. This allows Greenidge flexibly to prioritize power for the local grid over its cryptocurrency operations as needed.

The permit outlines the following key points:

• Immediate reductions in the facility’s greenhouse gas emissions capacity.
• A mandated 44% reduction in permitted emissions by 2030, exceeding the Climate Act’s target.
• A 25% reduction from the facility’s actual emissions, a unique condition in a Title V Air Permit renewal in New York.
• NYSDEC affirms that the emissions limits align with statewide GHG reduction goals.
• Once procedural requirements are met, NYSDEC will finalize the Title V permit renewal for Greenidge.
• This agreement ends all litigation, allowing Greenidge to continue operations while meeting emissions standards.
• The agreement supports uninterrupted operations in New York, further bolstering the local electrics grid.

This settlement concludes a lengthy legal battle related to the initial denial of Greenidge’s permit renewal and was welcomed by the IBEW in New York. Greenidge’s President Dale Irwin noted that the new permit sets a precedent for emissions reductions and demonstrates the company’s commitment to environmental and community responsibilities.

The agreement not only illustrates Greenidge’s dedication to high-paying job creation but also reaffirms its role in supplying much-needed energy while meeting environmental goals. The facility, operational since 2017, has closely engaged with local labor groups and has seen substantial investment driving job growth and local economic enhancement.