SPRT shareholders will only own 8% of the merged company, so it is effectively already valued in the billions as well.
"Upon completion of merger, Support.com stockholders and optionholders will collectively own approximately 8% of the combined company’s common stock and Greenidge stockholders will own approximately 92%"
To be perfectly honest, I don't understand why bitcoin miners are so richly valued here, there's increasing competition for the same size pie, and that pie gets smaller in time.
Furthermore, I'm not really a bitcoin bull, because I can't trust myself to buy bitcoin directly. Experts estimate ~20% is already lost by owners. I had a computer crash a few years ago and lost a lot of treasured photos of my daughters early childhood, I can't trust myself and my tech ability to hold the key for bitcoin, so miners is the only way I feel safe playing it....maybe miners are strong because a lot of others see it the same way?
"Our houses are such unwieldy property that we are often imprisoned rather than housed in them." - Henry David Thoreau, Walden: Economy, 1854
