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Greenidge Generation Holdings Inc - GREE STOCK NEWS

Welcome to our dedicated news page for Greenidge Generation Holdings (Ticker: GREE), a resource for investors and traders seeking the latest updates and insights on Greenidge Generation Holdings.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Greenidge Generation Holdings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Greenidge Generation Holdings's position in the market.

Rhea-AI Summary
Greenidge Generation Holdings Inc. reschedules Q4 and full-year 2023 earnings release, meeting or exceeding preliminary results. Postpones financial results and conference call to April 9, 2024, due to additional time needed for annual audit procedures and accounting policy revisions.
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Rhea-AI Summary
Greenidge Generation Holdings Inc. (NASDAQ: GREE) expands with 40 MW of low-cost power in Mississippi and North Dakota, increasing mining capacity and revenue potential. CEO Jordan Kovler emphasizes growth and job creation. Monthly Bitcoin production and hash rate figures show steady performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.86%
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Rhea-AI Summary
Greenidge Generation Holdings Inc. (NASDAQ: GREE) secures a $6 million investment from Armistice Capital to support growth initiatives including expansion into low-cost power centers, bitcoin mining, and new AI infrastructure. The investment aims to enhance shareholder value and strengthen competitive advantages, following the company's recent profitable quarter and debt reduction of over 54% in 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.51%
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Rhea-AI Summary
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced favorable preliminary financial and operating results for the fourth quarter of 2023, with revenue of approximately $19.7 million, net income of $1.4 million to $2.4 million, adjusted EBITDA of $1.6 million to $2.6 million, and earnings per share of $0.18 to $0.32. The company reported its first profitable quarter in two years and highlighted a significant reduction in debt by over 54% in 2023. The CEO expressed confidence in the company's approach and resources, positioning it well for future growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.47%
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earnings
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Rhea-AI Summary
Infinite Reality, Inc. (iR) plans to go public in early 2024 via Newbury Street Acquisition Corporation (Nasdaq: NBST). The company announced a partnership and equity swap with Greenidge Generation Holdings Inc. (Nasdaq: GREE) to launch a new service-offering known as GreenidgeAI. The partnership aims to provide infrastructure and GPU needs for iR clients, leverage low-cost power sources, and enhance data center capabilities. The equity swap agreement values iR at $2.5 billion and grants exclusive access to specialized infrastructure in the United States and Canada.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.19%
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partnership AI
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Rhea-AI Summary
Infinite Reality, Inc. (iR) plans to go public in early 2024 via Newbury Street Acquisition Corporation (Nasdaq: NBST). The company announced a partnership and equity swap with Greenidge Generation Holdings Inc. (Nasdaq: GREE) to launch a new service-offering known as GreenidgeAI. The partnership aims to provide infrastructure and GPU needs for iR clients, leverage low-cost power sources, and enhance data center capabilities. The equity swap agreement values iR at $2.5 billion and grants exclusive access to specialized infrastructure in the United States and Canada.
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partnership AI
Rhea-AI Summary
Infinite Reality, Inc. (iR) plans to go public in early 2024 via Newbury Street Acquisition Corporation (Nasdaq: NBST). The company announced a partnership and equity swap with Greenidge Generation Holdings Inc. (Nasdaq: GREE) to launch a new service-offering known as GreenidgeAI. The partnership aims to provide infrastructure and GPU needs for iR clients, leverage low-cost power sources, and enhance data center capabilities. The equity swap agreement values iR at $2.5 billion and grants exclusive access to specialized infrastructure in the United States and Canada.
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partnership AI
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Rhea-AI Summary
Greenidge Generation Holdings Inc. (NASDAQ: GREE) has entered into a partnership and share exchange with Infinite Reality, Inc. to launch GreenidgeAI, providing specialized infrastructure for AI and immersive experiences. The partnership aims to enhance offerings related to AI and immersive experiences by utilizing low-cost power and superior engineering services. The equity swap agreement between Greenidge and iR provides for iR obtaining shares of Greenidge valued at $8.33 per share in exchange for an equivalent amount of iR stock reflecting a $2.5 billion valuation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.18%
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partnership
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Rhea-AI Summary
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced the appointment of Jordan Kovler as the new Chief Executive Officer, replacing David Anderson, who will transition to Chairman of the Board of Directors. The executive transitions are effective as of November 16, 2023. This announcement follows the recent reduction of $85.3 million in debt by Greenidge through strategic deleveraging transactions, representing over half of its total net debt. Jordan Kovler brings a unique mix of experience in technology, Web3, capital allocation, M&A, investor engagement, and corporate governance expertise that will help drive the next phase of Greenidge's growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.23%
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management
Rhea-AI Summary
Greenidge Generation Holdings Inc. (NASDAQ: GREE) has successfully eliminated the remaining $21.8 million of secured debt by selling its South Carolina mining site to NYDIG. The company will receive approximately $6.2 million in cash consideration, reducing its debt by a total of $85.3 million in 2023. Greenidge will retain 153 acres of land for potential future data center development. The company's improved liquidity profile and balanced revenue mix position it well for the future.
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Rhea-AI Sentiment
End-of-Day
2.32%
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Greenidge Generation Holdings Inc

Nasdaq:GREE

GREE Rankings

GREE Stock Data

33.59M
4.31M
2.81%
12.2%
2.5%
Data Processing, Hosting, and Related Services
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United States
Dresden