The leadership team of Greenidge Generation is undergoing a <a href="https://ir.greenidge.com/news-releases/news-release-details/greenidge-generation-announces-leadership-transition-board" target="_blank" rel="nofollow noopener">reorganization</a>. Two executives from Millar Western, a manufacturer of forestry goods, took over the position that Jeffrey Kirt formerly held as CEO of the Bitcoin mining company.

The miner's chief executive since March of last year, Kirt, quit the organization today. David Anderson, who previously served as the CEO of Millar Western, will succeed him. The chief strategy officer for Greenidge will be Scott MacKenzie, who is already Millar Western's vice president of business development. On October 8, both folks began working at the company.
<h2>Expansion Of Executive Team And Staff</h2>
In addition to becoming public, Kirt stated that it had strengthened its management team and employees, increased fleet efficiency dramatically, expanded its geographic reach, and discovered several new potentials for strategic growth. He further commented,
<blockquote><em>"I am pleased to pass the baton now to Dave and Scott, whose extensive experience in successfully running and improving commodities businesses, executing capital projects, and delivering reliable, low-cost power generation will serve Greenidge well."</em></blockquote>
<h2>NASDAQ Lists Greenidge</h2>
In September 2021, Greenidge became a public company on the NASDAQ. The turmoil affecting the <a href="https://www.cryptoknowmics.com/news/first-solar-power-bitcoin-mining-plant-opens-in-south-australia/" target="_blank" rel="noopener">Bitcoin mining</a> business has not been impervious to the company. In August, the company announced it would postpone its Texas expansion owing to a sudden change in mining economics to concentrate on its locations in New York and South Carolina. The company disclosed a deficit for the second quarter of $108 million.
<h2>Third-Quarter Net Loss</h2>
Greenidge announced earlier this month that it intended to raise $23 million in a stock sale. Based on $29 million in revenue, Greenidge anticipated reporting a third-quarter significant loss of $22 million. According to estimates, Bitcoin mining would amount to $18 million, while $4 million would come from power generation. As part of announcing the company's new leadership, it released a statement revealing the company mined 866 Bitcoins during the third quarter.

Greenidge Changes Executive Team, Predicts Deficits In Q3

The Greenidge Generation team is being reorganized. Two executives from Millar Western will occupy the position that Jeffrey Kirt held.

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Greenidge Changes Executive Team, Predicts Deficits In Q3

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