{"id":597735,"date":"2026-07-22T01:16:33","date_gmt":"2026-07-22T01:16:33","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/597735\/"},"modified":"2026-07-22T01:16:33","modified_gmt":"2026-07-22T01:16:33","slug":"greenidge-generation-renames-to-vulcan-infrastructure-raises-39-4-million-pipe-for-ai-hpc-pivot","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/597735\/","title":{"rendered":"Greenidge Generation renames to Vulcan Infrastructure, raises $39.4 million PIPE for AI\/HPC pivot"},"content":{"rendered":"\n

Vulcan Infrastructure and Power, formerly Greenidge Generation Holdings, announced<\/a> Monday that it agreed to raise about $39.4 million through a private investment in public equity transaction. The company also changed its legal name as part of a planned shift from bitcoin mining toward AI\/HPC infrastructure. <\/p>\n

Shares of GREE<\/a> are up more than 24% over the past 5 days, per Yahoo Finance. <\/p>\n

The PIPE includes 17.15 million Class A shares priced at $1.71 each, matching the stock’s July 17 closing price. Investors include affiliates of Machine Investment Group, Atlas GREE Investment Holdco and Conversant PIF Aggregator, along with company executives and a board member. <\/p>\n

Machine Investment Group’s $15 million commitment includes 2.92 million shares, a $10 million senior secured convertible note and a three-year warrant covering 1.75 million shares. According to the company’s Form 8-K<\/a>, the note carries 10% annual interest that accrues into principal and matures three years after issuance. <\/p>\n

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Vulcan intends to use the net proceeds to redeem about $33 million of its remaining 8.50% senior notes due in October 2026. Any remaining proceeds would support general corporate purposes. <\/p>\n

“We weren’t looking to make a passive investment in power infrastructure assets. We were looking for the right public platform,” an unidentified investor said in the release. “Greenidge’s existing powered assets, operating capabilities and public company infrastructure provide an attractive foundation upon which to build a scaled power infrastructure platform.” <\/p>\n

The company expects Nasdaq trading in its Class A shares to open Friday, July 24 under the VIP ticker. Its senior notes will keep trading under GREEL, and the CUSIP numbers for both securities will remain unchanged. <\/p>\n

The PIPE remains subject to Nasdaq approval for listing the associated shares, execution of security documents and effectiveness of prior stockholder consent after the required information statement process. The agreements may be terminated if the transaction has not closed by October 10, subject to specified exceptions. <\/p>\n

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The board is expected to expand initially to 10 directors when the financing closes. Directors Timothy Lowe and Charles Zeynel submitted resignations effective upon closing, while their departures will become void if the transaction is not completed. <\/p>\n","protected":false},"excerpt":{"rendered":"Vulcan Infrastructure and Power, formerly Greenidge Generation Holdings, announced Monday that it agreed to raise about $39.4 million…\n","protected":false},"author":2,"featured_media":597736,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[261],"tags":[291,289,290,41813,41610,160887,252963,18,252964,19,252965,17,252962,252966,228340,82],"class_list":["post-597735","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-bitcoin-mining","tag-class-a-shares","tag-company-executives","tag-company-infrastructure","tag-eire","tag-equity-transaction","tag-ie","tag-investment-group","tag-ireland","tag-machine-investment-group","tag-pipe","tag-power-infrastructure","tag-technology"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116960990765475963","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/597735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=597735"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/597735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/597736"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=597735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=597735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=597735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}