Greenidge’s Dresden Plant Hit by Electrical Fire, Forcing Shutdown of Bitcoin Mine
Greenidge Generation’s power facility and bitcoin mine in Dresden, New York, has been taken fully offline after an electrical switchgear malfunction caused a fire.
The company said in an SEC filing on Wednesday that the Nov. 23 incident triggered automated safety protocols that immediately de-energized the plant. The fire was contained, and no injuries were reported.
The Dresden site is the company’s primary operating asset. Greenidge disclosed in its third-quarter earnings that the facility has approximately 106 megawatts of nameplate natural-gas generation capacity and hosts the majority of its proprietary bitcoin mining and co-location business, including machines hosted for NYDIG.
Greenidge said preliminary assessments indicate no material damage to its owned or hosted bitcoin miners located on-site. The company is working with its utility partners, the local fire marshal and specialist electrical contractors to investigate the cause and formulate a repair plan.
While Greenidge expects to resume normal operations over the coming weeks, it did not provide a firm timeline for restoring partial or full service.
The shutdown comes shortly after the Dresden facility secured a renewal of its Title V air permit from New York state regulators, a development Greenidge highlighted earlier this month following years of environmental scrutiny over its natural-gas generation and co-located bitcoin mining.
The incident also follows another fire reported recently at a bitcoin mining site under construction by Bitdeer (NASDAQ: BTDR) in Ohio, which temporarily halted progress at that location.
