Greenidge Generation Reaches Agreement With New York For 5-Year Air Permit Renewal, Cutting Emissions 44% By 2030, Ending All Litigation

Author: Benzinga Newsdesk | November 07, 2025 04:50pm

Company's Model Datacenter and Power Generation Operation, Which Sends Significant Power to the Local Energy Grid, Will Receive New Title V Permit

Agreement Exceeds Climate Act Goals by Achieving a 44% Required Reduction in Permitted Emissions by 2030, and a 25% Reduction from Actual Emissions

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

Settlement Ends all Litigation and Affirms Greenidge Operation Will Continue to Be Fully Consistent with the State's Climate Act

Greenidge Generation Holdings Inc. (NASDAQ:GREE) ("Greenidge" or the "Company"), a vertically integrated cryptocurrency datacenter and power generation company, today announced the company and the State of New York have agreed on the terms of a historic new five-year renewal of the company's Title V Air Permit for its Dresden, NY facility. The agreement ensures that the facility, which provides significant power to the local energy grid each year, will continue to do so while also serving as a model datacenter operation.

The agreement, signed by the New York State Department of Environmental Conservation ("NYSDEC") and the Company, states unequivocally that Greenidge shall receive a Final Title V Air Permit, and that the new emissions levels are fully consistent with New York's Climate Leadership Community Protection Act ("Climate Act"). Greenidge provides power to the Upstate New York electrical grid every minute it operates, a requirement of the company's operating agreement with the New York Independent System Operator (NYISO), and Greenidge regularly increases power to the grid during times of high demand, to strengthen grid reliability and help reduce energy costs for residents and homeowners.

Before Greenidge's fully approved crypto mining operation, the facility's time from start-up to high-power generation for the grid was approximately 14 hours. Now, reaching a high-power supply to the grid takes only minutes. Greenidge can curtail its cryptocurrency mining operations in minutes and direct more of its power generation to the local energy grid.

Since 2022, Greenidge has increased the amount of power it sends to the electrical grid every year.

The permit agreement establishes, in clear language and signed terms, the following:

• Historic emissions reduction requirements via "an immediate reduction of the Facility's potential to emit greenhouse gas emissions."
  
  
  
   
• A mandated 44% reduction in permitted emissions by 2030, exceeding ambitious goals of the Climate Act, which aims to achieve a 40% reduction in statewide emissions by 2030.
  
  
  
   
• A 25% reduction off the facility's actual emissions by 2030, which is believed to be the first such condition in a Title V Air Permit renewal in the State of New York.
  
  
  
   
• NYSDEC's conclusion that the emissions limits "establish the Facility's consistency with the Statewide GHG emission limits as established by the Climate Leadership and Community Protection Act."
  
  
  
   
• After a public comment period and fulfilling all applicable state procedures, "NYSDEC shall issue a Final Title V permit modification and renewal to Greenidge for the Facility."
  
  
  
   
• The agreement ends all litigation and administrative appeals between the company and the State, and NYSDEC and Greenidge will "request discontinuance of the administrative hearing on this matter" and Greenidge will "seek dismissal of its pending appeal before the New York State Appellate Division, Fourth Department."
  
  
  
   
• Establish that any objection by the parties granted party status in the pending state administrative hearing case in State Appellate Court "will not impair the terms of this Stipulation or NYSDEC's agreement to issue Greenidge a Final Title V permit modification and renewal with the emissions limits."
  
  
  
   
• Affirms the company can continue to operate in New York, uninterrupted, supplying electricity to the local electrical grid, which has increased each year in recent years, and behind-the-meter electricity to the company's cryptocurrency datacenter.

Posted In: GREE