Bitcoin Miner Greenidge Expects Q3 Losses of $20M-$22M Amid CEO Departure

The mining firm also announced the appointment of David Anderson as its new CEO following the departure of Jeffrey Kirt

. Anderson was most recently president and CEO of Millar Western Forest Products, an Alberta, Canada-based integrated forest products company. Greenidge mined approximately 866 BTC during Q3 compared to 729 BTC during the same period last year.The Bitcoin network's, which shows it now requires 35.6 trillion hashes to mine one BTC, an increase of 13.55% compared to its previous measure.

This means it is costing miners larger sums to extract new bitcoin at a time when the value of the world's largest crypto is treading water and high energy prices are adding to their costs. Greenidge's preliminary results follow London-listed bitcoin miner Argo Blockchain being forced to raise

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