Greenidge Generation anticipates over $3 million in local, state taxes

Yates County-based Greenidge Generation has announced it will pay more than $3 million in taxes for calendar-year 2021. That’s about $2 million higher than the company paid in taxes for 2020, or a 200% increase.

Greenidge Generation said the sharp increase in taxes is due to the success of its cryptocurrency data center and electric engineering plant, according to The Chronicle Express. The success of their operation is seen as a driving force behind economic development in the Finger Lakes region.

Greenidge estimates $3,100,00 in state and local taxes and PILOT Payments and fees for 2021.

“These figures show once again that Greenidge is a vital, positive, and massively increasing contributor to the Upstate New York region we share,” said Dale Irwin, CEO of Greenidge Generation LLC. “…We are happy to make these increasing payments as they help the schools that educate our kids, support our local and Yates County budgets, and contribute to the State of New York as they all work to keep taxes stable for our neighbors and local businesses.”

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