Logo

GREE

Greenidge Generation Holdings Inc.

GREE

Greenidge Generation Holdings Inc. • NASDAQ
$1.56 ▼ -0.64% (-0.01)
Market Cap $24.64 M
52w High $2.49
52w Low $0.58
Dividend Yield 0%
P/E -10.4
Volume 216.40K
Outstanding Shares 15.79M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15.22M ▲ $3.069M ▼ $11.958M ▲ 78.568% ▲ $0.76 ▲ $15.228M ▲
Q2-2025 $12.861M ▼ $4.405M ▼ $-4.118M ▲ -32.019% ▼ $-0.27 ▲ $-215K ▼
Q1-2025 $19.242M ▲ $15.44M ▲ $-5.564M ▼ -28.916% ▼ $-0.4 ▼ $412K ▼
Q4-2024 $14.792M ▲ $5.945M ▼ $-3.906M ▲ -26.406% ▲ $-0.3 ▲ $1.336M ▲
Q3-2024 $12.351M $7.657M $-6.367M -51.55% $-0.6 $-1.22M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.581M ▲ $50.567M ▼ $99.975M ▼ $-49.408M ▲
Q2-2025 $3.397M ▼ $52.761M ▼ $113.977M ▼ $-61.216M ▼
Q1-2025 $4.879M ▼ $56.714M ▼ $114.956M ▼ $-58.242M ▼
Q4-2024 $8.619M ▲ $64.855M ▲ $120.609M ▲ $-55.754M ▲
Q3-2024 $7.57M $59.88M $117.929M $-58.049M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $11.958M ▲ $120K ▲ $10.087M ▲ $-6.023M ▼ $4.184M ▲ $103K ▲
Q2-2025 $-4.118M ▲ $-4.797M ▲ $5.908M ▲ $-2.593M ▼ $-1.482M ▲ $-6.355M ▲
Q1-2025 $-5.564M ▼ $-5.726M ▼ $1.986M ▲ $0 ▼ $-3.74M ▼ $-6.628M ▲
Q4-2024 $-3.918M ▲ $-3.882M ▼ $730K ▲ $4.201M ▲ $1.049M ▲ $-7.366M ▼
Q3-2024 $-6.355M $-1.665M $-1.024M $0 $-2.689M $-4.498M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Cryptocurrency Mining
Cryptocurrency Mining
 $0 ▲$0 ▲$0 ▲$0 ▲
Power And Capacity
Power And Capacity
 $0 ▲$10.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The company’s income statement shows a business that has struggled to turn its operations into durable profits. Revenue has been small and choppy, rising sharply in earlier years as crypto activity expanded, then slipping back more recently. Gross profit has generally remained positive, which suggests the core activities can cover their direct costs, but overhead, interest, and other expenses push results into recurring operating losses. The worst year appears to be in the middle of the period, with a very large loss and extremely negative earnings per share, followed by some gradual improvement but still firmly in loss-making territory. Overall, the story is one of modest revenue, volatile performance, and no consistent profitability yet.

Balance Sheet

Balance Sheet The balance sheet looks strained. Total assets have shrunk significantly from their peak, indicating either asset sales, write-downs, or a scaling back of operations. Cash levels are thin, offering limited cushion. Debt is meaningful relative to the asset base and has not come down as fast as assets, which tightens financial flexibility. Most importantly, shareholder equity has turned negative and stayed there, signaling that accumulated losses have eroded the company’s capital. This combination—negative equity, limited cash, and notable debt—points to a financially fragile position that leaves little room for prolonged setbacks.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative except for one good year, which means the day-to-day business has not been self-funding. Free cash flow has also been negative in every year, though the deficit has narrowed recently as the company sharply reduced capital spending after a period of heavy investment. This suggests a shift from aggressive growth build-out toward preservation of cash. Even so, the business is still consuming cash rather than generating it, which, when combined with the weak balance sheet, underscores reliance on external funding, asset sales, or restructuring efforts to keep going.

Competitive Edge

Competitive Edge Competitively, Greenidge sits at an unusual intersection of power generation, Bitcoin mining, and now data center and AI-related services. Its main edge is vertical integration: owning power generation tied directly to mining can lower and stabilize energy costs, which is critical in crypto mining. Operational know-how in energy infrastructure and site development adds another advantage. On the other hand, Bitcoin mining is brutally competitive and highly sensitive to crypto prices, network difficulty, and energy regulation. Environmental scrutiny and regulatory risk around fossil-fuel-based generation add further pressure, particularly in regions like New York. The move into hosting, engineering services, and high-performance computing aims to diversify away from pure self-mining, but these markets are also crowded and filled with larger, better-capitalized players. Overall, the company has a distinctive niche but operates in volatile, intensely competitive arenas.

Innovation and R&D

Innovation and R&D Innovation for Greenidge is less about traditional lab-style R&D and more about business model and infrastructure design. The firm has been early in combining dedicated power generation with on-site crypto mining, and it continues to upgrade its mining hardware to improve efficiency. More recently, it is trying to repurpose its energy and infrastructure skills into data centers for AI and high-performance computing, including partnerships for GPU-focused facilities. Offering engineering and construction services to others is another way of monetizing internal expertise. These steps show creativity and a willingness to pivot, but they also require strong execution, significant capital, and careful navigation of regulatory and environmental expectations. The innovation roadmap is promising on paper but still needs to be proven at scale.

Summary

Greenidge Generation is a company in transition, with a financial profile that reflects both past overreach and current attempts to pivot. The business has not yet achieved stable profitability, carries a weak balance sheet with negative equity, and continues to burn cash, albeit at a slower pace than during its heavy investment years. At the same time, it has carved out a unique position by pairing power generation with digital infrastructure, first in Bitcoin mining and now increasingly in data center, hosting, and AI-related services. The core opportunity lies in turning this integrated energy-and-compute platform into a more diversified, less volatile business. The central risks lie in financial fragility, exposure to crypto cycles, regulatory and environmental scrutiny, and intense competition from larger technology and infrastructure providers. How effectively management manages debt, preserves liquidity, and executes on the move into AI and data centers will likely determine whether the current strategic shift leads to a more sustainable business model or further financial strain.

NEWS

November 13, 2025 · 8:30 AM UTC

Greenidge Generation Highlights Historic Agreement with State of New York on New Air Permit and Reports Strong Financial and Operating Results for Third Quarter 2025

Read more

November 7, 2025 · 4:48 PM UTC

Greenidge, New York State Agree on Historic New Air Permit That Will Support Local Power Grid; Includes Required Emissions Reductions That Exceed State's Climate Act Goals

Read more

November 6, 2025 · 9:00 AM UTC

Greenidge Generation Announces Expiration and Final Results of Tender/Exchange Offer for Senior Notes Due 2026

Read more

October 22, 2025 · 9:00 AM UTC

Greenidge Generation Announces Early Results for Cash Tender Offer and Exchange Offer for Senior Notes Due 2026

Read more

October 6, 2025 · 9:00 AM UTC

Greenidge Generation Announces Commencement of Cash Tender Offer and Exchange Offer for Senior Notes Due 2026

Read more