Active member of the Bitcoin Community since 2013;
Brings 25 years’ experience in financial services, technology and technology investing to role as Vice Chairman of Board
Greenidge Generation Holdings Inc., a holding company that includes Greenidge Generation LLC, a vertically integrated bitcoin mining and power generation facility in Upstate New York, announced the appointment of Ted Rogers, an active member of the bitcoin community for nearly a decade, as Vice Chairman of its Board of Directors.
Greenidge’s integrated business model delivers significant competitive advantages compared to bitcoin mining peers. Greenidge owns its own power generation assets and operates its own mining equipment, unlike most other bitcoin miners. This allows Greenidge to operate without relying on highly variable outside power purchase and hosting agreements that are subject to renegotiation or other cost volatility. The company also boasts low fixed costs shared between its power generation and cryptocurrency mining operations. In addition, Greenidge’s Upstate New York location provides access to some of the lowest-cost natural gas in North America.
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Greenidge has a demonstrated record of successfully mining bitcoin, coupled with significant private investment from both funds sponsored and managed by Atlas Holdings LLC and major institutional investors. As bitcoin adoption continues to accelerate, Greenidge is well-positioned to benefit, as it is expected to be the only U.S. public company operating a vertically integrated power generation asset and bitcoin mining operation.
“I’m thrilled to join a best-in-class platform like Greenidge,” said Ted Rogers, Greenidge’s new Board Vice Chairman. “I believe that having a robust bitcoin mining community, one that moves quickly toward clean energy usage, is in the national interest of the United States. I joined because Tim Fazio and Greenidge have a clear commitment to ethically invest and innovate in the space. I look forward to helping the team write the next chapter in their story.”
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Ted has 25 years’ experience in financial services, technology, and technology investing. He has been an active member of the bitcoin community since 2013, when he joined Xapo, one of the first venture-backed bitcoin platforms, before its launch in 2014. As President, he oversaw all of Xapo’s institutional offerings, including OTC, client services, and custody. The company became the largest bitcoin custodian in the world. Coinbase acquired the custody business of Xapo in 2019.
Before Xapo, Ted co-founded and served as General Partner for Arpex Capital, an international venture investment firm, whose portfolio includes fintechs such as Brex and Stone Payments. Earlier in his career, Ted worked in corporate finance for FBR Group and in Business Affairs for America Online. He graduated from Williams College in 1991 and cum laude from Georgetown University Law School in 1996. Ted spent two years as a linebacker for the Washington Football Team, including during their Super Bowl-winning season of 1991-1992.
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