Greenidge Generation, the Bitcoin mining company that once drew ire from New York regulators over its environmental footprint, is done with crypto. The firm has rebranded as Vulcan Infrastructure and Power, raised approximately $39.4 million in a PIPE financing round, and is steering its power assets toward AI and high-performance computing workloads.
The transaction closed on July 19 at $1.71 per share. Most of the net proceeds will go toward redeeming roughly $33 million of the company’s 8.50% senior notes due in October 2026, essentially using fresh equity to clean up its debt stack before pivoting into a capital-intensive new business.
From mining rigs to GPU racks
Vulcan currently operates 104 MW of energized capacity, with an additional 654 MW sitting in its development pipeline. The company says it plans to commercialize over 100 MW of AI and HPC-ready capacity in the near term.
The Nasdaq ticker will change from GREE to VIP, effective July 24, 2026.
