Greenidge Generation Reshuffles Positions as CEO Kirt Resigns

United States crypto mining data center company Greenidge Generation Holdings is in the middle of reshuffling positions after its Chief Executive Officer (CEO) Jeffery Kirt quit his position in the company.

Additionally, he resigned as a Director of the company. David Anderson, CEO of Millar Western has been appointed by the Board of Directors to replace him by occupying both positions as CEO and Director of Greenidge Generation Holdings. 

The company has also tapped Scott Mackenzie, Millar Western’s Vice President of Corporate Development, to be the Chief Strategy Officer.

The now ex-CEO expressed his satisfaction in having both Anderson and Mackenzie replace him. He believes they possess a vast knowledge of the industry as well as a rounded extensive experience.

Based on a statement by Kirt, “Over the past 18 months, our team at Greenidge Generation has taken several significant steps to become a leading vertically integrated cryptocurrency data center and environmentally-sound power generation company, and I am extremely proud of our work.

We’ve become a public company, strengthened our management team and workforce, significantly improved our fleet efficiency, expanded our geographic footprint, and identified several new opportunities for strategic growth.

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.”

Kirt Remains a Consultant

As a material inducement to their employment with the Bitcoin (BTC) mining company, both Anderson and Mackenzie will obtain an equity award which is will place them at par with other Greenidge stockholders.

Hence, a significant part of their compensation will be tied to the upward trajectory of the company’s stock price. Jeffrey Kirt will remain in Greenidge as a consultant while the company gradually transitions. He will still retain his position as a senior advisor at Atlas Holdings LLC.

As part of Greenidge’s expansion plans, the company revealed its plans to establish a new cryptocurrency data center in Spartanburg County, South Carolina worth about $264 million. Also, Greenidge secured $108 million earlier in the year in two funding rounds. 

“These financings are consistent with Greenidge’s established strategy of using non-dilutive capital to fund our expansion,” Kirt said at the time.