Greenidge Will be the Exclusive Provider of
Specialized Infrastructure for Infinite Reality, Including
Datacenter GPUs for AI and Immersive Experiences Via the Launch of
“GreenidgeAI”
Infinite Reality Will Further Support
Greenidge’s Growth by Utilizing Its Low-Cost Power and Superior
Engineering Services
Greenidge and Infinite Reality Will Evaluate
Projects to Deliver Enhanced Offerings Related to AI and Immersive
Experiences
Greenidge Generation Holdings Inc. (NASDAQ: GREE) (“Greenidge”
or the “Company”), a vertically-integrated cryptocurrency
datacenter and power generation company, today announced that it
has entered into a partnership and share exchange with Infinite
Reality, Inc. (“iR”), the global leader powering virtual immersive
experiences serving clients such as Warner Bros. Discovery, Inc.,
Vodafone Group plc and Universal Music Group N.V. With this
transformative partnership, Greenidge is also announcing the launch
of its new service offering, GreenidgeAI.
GreenidgeAI will be the exclusive provider to iR in the United
States and Canada of specialized infrastructure, including
datacenters utilizing graphic processing units (“GPUs”) to support
generative Artificial Intelligence (“AI”) workstreams, including
metaverse experiences and other applications requiring high
performance computing (“HPC”). Additionally, Greenidge and iR will
explore jointly designing and building a new datacenter to enhance
iR’s offerings, spearhead its growth and provide clients with
lower-cost GPU access. This effort will be powered by Greenidge’s
access to low-cost power and leading engineers with experience
designing and building datacenters.
Jordan Kovler, CEO of Greenidge commented, “I am thrilled by the
opportunities that lie ahead with the launch of GreenidgeAI.
Entering the AI datacenter space has been a strategic focus of ours
and, as such, we have been thoughtful in our search for the right
long-term partner, one strategically aligned and with a skilled
team to complement Greenidge’s resources. We believe that we have
found that partner in John and the entire iR team. The launch of
GreenidgeAI augments our focus on improving our capital structure –
having recently reduced over $85 million in secured debt – and
ensures that Greenidge is well-positioned for future growth to
drive shareholder value.”
“We are excited to start working with Greenidge as we continue
growing our capabilities to power cinematic-quality immersive
experiences for our clients. This partnership provides us
datacenters right where the power and server generation occurs and
gives us direct access to their amazing team of engineers. The
Greenidge team will provide iR and its clients with customized
state-of-the-art datacenter solutions designed specifically for AI
and powering immersive experiences,” said John Acunto, CEO of
iR.
“These customized solutions are necessary as more and more
companies begin to realize that AI is transforming everything, but
AI is nothing without data. iR's entire platform allows brands and
creators to own their own data, own their own experiences and own
their customer interactions. The partnership will expedite our
growth and provide us with greater ability to innovate for our
clients and serve them the best experiences for their targeted
audiences, while removing big tech’s stranglehold on the cost of
data. Outside of the current framework, we look forward to working
with Jordan and the Greenidge team on entrepreneurial ventures that
will position both companies exceptionally well for a long-lasting
relationship in other profitable business lines,” added Acunto.
Partnership Details
Pursuant to the partnership between Greenidge and iR:
- Greenidge will provide infrastructure and GPU needs for iR
clients, while iR will receive a profit share on Greenidge
datacenters and preferred pricing for its own internal datacenter
needs.
- Greenidge and iR will evaluate developing a new
datacenter.
- Greenidge will add a new, fast-growing service offering to
supplement its current mix of Bitcoin self-mining, hosting, EPCM
(Engineering, Procurement and Construction Management) and O&M
(Operations and Maintenance) services.
- iR has the ability to leverage Greenidge’s access to additional
sources of low-cost power as needed.
- iR’s brands are empowered and enabled to take control of their
data and improve performance, while reducing iR’s costs and
improving profit margins.
- iR is able to better serve its clients in a fast-growing
industry and continue to accelerate audience engagement through
cinematic-quality virtual environments, while being the only player
in the space to provide brands with direct access to their
audiences and customer data.
Equity Swap Agreement
- Provides for iR obtaining shares of Greenidge valued at $8.33
per share in exchange for an equivalent amount of iR stock
reflecting a $2.5 billion valuation.
- Greenidge granting iR a one-year warrant to purchase shares of
Greenidge stock at $7.00 per share, the proceeds of which will be
used by Greenidge in connection with the development of a new
datacenter.
- iR granting Greenidge a one-year warrant to purchase an
equivalent value of iR shares, reflecting a $2.5 billion valuation
of iR, the proceeds of which will be used for general working
capital purposes.
GreenidgeAI plans to begin taking external customer orders in
2024 as the Company grows beyond the partnership with iR and is
currently in the process of designing and planning the buildout of
AI datacenters, in conjunction with securing agreements for the
purchase of NVIDIA H100 and L40 GPUs.
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a
vertically integrated power generation company, focusing on
cryptocurrency mining, infrastructure development, engineering,
procurement, construction management, operations and maintenance of
sites.
About Infinite Reality
Infinite Reality (“iR”) is an innovative technology and
entertainment company specializing in the development of
cutting-edge, AI-powered immersive experiences. iR’s immersive
experiences enable brands and creators to fully control the ways in
which they distribute content, engage audiences, and commercialize
their creations, while also giving them ownership over their data.
With its deep expertise in Hollywood production, iR develops
immersive experiences that maximize the value between brands,
content, and audiences and redefine the possibilities in connected
digital environments. The Creative Services and Advisory teams
advise, manage, design, and oversee custom builds, leveraging the
Technology team’s platform development expertise. The Entertainment
and Content Creation division produces breathtaking original
content and live events featuring the world’s most in-demand
talent. iR’s Agency attracts, cultivates, and builds client
audiences while iR’s digitally native brands, including premier
influencer management agency TalentX Entertainment, increase
awareness and adoption of immersive opportunities.
Forward-Looking Statements
This press release includes certain statements that may
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical fact are
forward-looking statements for purposes of federal and state
securities laws. These forward-looking statements involve
uncertainties that could significantly affect Greenidge’s financial
or operating results. These forward-looking statements may be
identified by terms such as “anticipate,” “believe,” “continue,”
“foresee,” “expect,” “intend,” “plan,” “may,” “will,” “would,”
“could,” and “should,” and the negative of these terms or other
similar expressions. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance.
Forward-looking statements in this press release include, among
other things, statements regarding the business plan, business
strategy and operations of Greenidge in the future. In addition,
all statements that address operating performance and future
performance, events or developments that are expected or
anticipated to occur in the future are forward-looking statements.
Forward-looking statements are subject to a number of risks,
uncertainties and assumptions. Matters and factors that could cause
actual results to differ materially from those expressed or implied
in such forward-looking statements include but are not limited to
the matters and factors described in Part I, Item 1A. “Risk
Factors” of Greenidge’s Annual Report on Form 10-K for the year
ended December 31, 2022, Part II, Item 1A. “Risk Factors” of
Greenidge’s Quarterly Report on Form-10-Q for the period ended
September 30, 2023, and its other filings with the Securities and
Exchange Commission. Consequently, all of the forward-looking
statements made in this press release are qualified by the
information contained under this caption. No assurance can be given
that these are all of the factors that could cause actual results
to vary materially from the forward-looking statements in this
press release. You should not put undue reliance on forward-looking
statements. No assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do occur, the actual results, performance,
or achievements of Greenidge could differ materially from the
results expressed in, or implied by, any forward-looking
statements. All forward-looking statements speak only as of the
date of this press release and Greenidge does not assume any duty
to update or revise any forward-looking statements included in this
press release, whether as a result of new information, the
occurrence of future events, uncertainties or otherwise, after the
date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20231212047948/en/
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Greenidge Generation (NASDAQ:GREE)
過去 株価チャート
から 11 2024 まで 12 2024
Greenidge Generation (NASDAQ:GREE)
過去 株価チャート
から 12 2023 まで 12 2024
