Greenidge Generation Holdings Inc. announces the termination of the agreement with Data Journey LLC to sell a property in South Carolina.
The agreement included the sale of 152 acres of land in Spartanburg, South Carolina, for $12.1 million in cash and an 8% profit participation interest in a data center project.
Data Journey exercised its right to terminate the Purchase and Sale Agreement, leading to the termination of the transaction.
Termination of Sale Agreement
Data Journey LLC terminated the Purchase and Sale Agreement with Greenidge Generation Holdings Inc.
Property Sale Details
The agreement involved selling 152 acres of land in South Carolina for $12.1 million and a profit participation interest.
Company Statement
Jordan Kovler, CEO of Greenidge, expressed the company's commitment to maximizing value for shareholders.
- The termination of the agreement may impact Greenidge's financial plans and strategic direction in the short term.
- The decision by Data Journey to terminate the transaction could necessitate Greenidge to explore alternative opportunities for the property.
Greenidge Generation Holdings Inc. faces new challenges following the termination of the property sale agreement, requiring strategic planning to navigate through the situation effectively.