Bitcoin mining company and zero-carbon power plant provider Greenidge Generation has announced a leadership transition and possible third-quarter loss.

According to the Press releaseCEO Jeffrey Kirt stepped down from his role effective October 7 to hand over leadership to David Anderson as the new CEO and director.

Scott MacKenzie has also been named the company’s chief strategy officer, effective October 8, 2022.

While Jeffrey Kirt has stepped down as CEO of Greenidge, he will now act as a consultant to ensure the company has a successful transition during this period.

While the financial records are still subject to scrutiny under US GAAP to guide investors, the press release notes that Greenidge will report approximately $29 million in revenue and a net loss in the range of approximately $22 million to $20 million for the period. of three months. which ended on September 30.

A total of 866 bitcoins in the hash rate of approximately 2.4 EH/s with 24,500 miners at the end of September.

Speaking about the leadership transition, former Greenidge CEO and director Jeffrey Kirt noted that the company has taken several giant steps to now become a “vertically integrated cryptocurrency data center and green power generation company.” .

Having been instrumental in driving growth at various levels of the company as CEO, he added that he was “pleased to now hand over to Dave and Scott, whose extensive experience successfully managing and improving commodity businesses, execution of capital projects and the delivery of reliable, low-cost power generation,” will now greatly benefit Greenidge.

Greenidge recently obtained a filing with the US Securities and Exchange Commission (SEC) to raise the sum of $22.8 million in association with B. Riley Securities and Northland Securities, both investment firms, in a proposal for class A common shares.

This comes shortly after the company reported a $107 million loss in the second quarter. Have the company pause its expansion plans to focus on its South Carolina and New York sites as Announced at the beginning of the year.

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