Vulcan Infrastructure Emerges from Greenidge Rebrand
Greenidge Generation Holdings has undergone a significant transformation by rebranding as Vulcan Infrastructure and Power Inc. The company is shifting its focus from bitcoin mining to developing infrastructure for artificial intelligence data centers and electric grid operations.
The rebranding comes with a new Nasdaq stock ticker, VIP, replacing GREE on July 24. This move marks a significant shift for the company, which has operated the Greenidge Generation facility on Seneca Lake in the Town of Torrey.
Vulcan Infrastructure and Power Inc. has secured $39.4 million in strategic investments from affiliates of Machine Investment Group and Atlas Holdings, along with institutional investors and company insiders. The funds will be used to accelerate the company's transformation into a publicly traded power and digital infrastructure company.
The company currently controls 104 megawatts of energized capacity and has a 654-megawatt development pipeline across company-owned sites. Vulcan expects to bring more than 100 megawatts of AI- and high-performance computing-ready capacity online in the near term.