Welcome to our dedicated page for Greenidge Generation Holdings news (Ticker: GREE), a resource for investors and traders seeking the latest updates and insights on Greenidge Generation Holdings stock.
Greenidge Generation Holdings Inc. reports developments tied to its vertically integrated datacenter and power generation business. Company news commonly covers cryptocurrency datacenter operations, bitcoin mining, power and capacity sales, infrastructure development, and the transition of its datacenter strategy toward AI/HPC workloads.
Recurring updates also address liability management and capital-structure actions involving senior notes, operating and financial results, power-capacity expansion, and regulatory matters for the Dresden, New York facility, including Title V air-permit developments. Greenidge news may also include completed asset sales, such as the monetization of power-related property holdings.
Greenidge Generation (NASDAQ: GREE) reported its Q1 2025 financial results, showing total revenue of $19.2 million with a net loss of $5.6 million. The company's revenue streams included cryptocurrency mining ($4.2M), datacenter hosting ($5.8M), and power and capacity ($9.2M), producing 112 BTC during the quarter.
The company reduced its debt to $60.2 million, a 16.6% reduction from the original $72.2 million. Greenidge appointed Kenneth Fearn and Christopher Krug as independent directors and secured a new 37-acre site in Mississippi with 40 MW of additional power capacity expected by July 2026. The company currently operates 119MW across sites in New York, Mississippi, and North Dakota, with plans to expand to 161.5MW in the near term.
As of Q1 2025, Greenidge maintains $4.9 million in cash, $8.4 million in Bitcoin, and $66.7 million in debt, while operating 3.3 EH/s of total hashrate capacity.
Greenidge Generation Holdings (Nasdaq: GREE) announced significant changes to its Board of Directors effective April 17, 2025. The company appointed two new independent directors: Kenneth Fearn, a senior executive with over 30 years of experience in investments, finance, and M&A, specializing in real estate, and Christopher Krug, an experienced founder and public markets investor focused on small-cap companies.
The appointments are part of Greenidge's ongoing Board refreshment process. Concurrent with these additions, David Anderson and Daniel Rothaupt will retire from the Board. Timothy Fazio, Managing Partner and Co-Founder of Atlas Holdings , has been elected as Chairman of the Board.
Greenidge Generation (NASDAQ: GREE) reported preliminary Q4 2024 results with total revenue of $14.8M, up $2.4M from Q3, and a reduced net loss of $3.3-4.3M. The company's Q4 revenue streams included: cryptocurrency datacenter self-mining ($4.0M), hosting ($7.3M), and power/capacity ($3.5M).
For full-year 2024, Greenidge achieved $59.5M in revenue and reduced SG&A expenses by $8.9M compared to 2023. The company completed 15MW mining buildouts in Mississippi and North Dakota, improving fleet efficiency to 23.8 J/TH. Currently operating 119MW across New York, Mississippi, and North Dakota facilities, with plans to reach 146.5MW capacity by end of 2025.
The company holds over 85 Bitcoin, reduced debt by $5.2M through debt-for-equity exchanges, and is exploring acquisition of new sites with over 200MW of power assets. Management indicates future growth strategy may require converting substantial outstanding notes to equity at below par value.
Greenidge Generation Holdings (NASDAQ: GREE) has announced the sale of its 152-acre Spartanburg, South Carolina property to Data Journey for $12.1 million in cash plus an 8% profit participation interest in the planned data center. The property, initially purchased by Greenidge in 2021 for $15 million, includes access to 60 MW of secured power.
This transaction marks Greenidge's first major entry into the data center space. After the sale closes, Greenidge will support Data Journey in site development. The property has potential for expansion up to 100MW with proprietary onsite power generation. Data Journey currently operates facilities in North Carolina and Texas, with plans to expand to six new sites in 2025.
The deal follows Greenidge's earlier sale of 23 acres and 44 MW mining facilities to NYDIG for approximately $28 million in 2023. The transaction is expected to close in Q1 2025.
The New York Supreme Court has ruled in favor of Greenidge Generation (NASDAQ: GREE), rejecting the Department of Environmental Conservation's (DEC) denial of their Title V Air Permit renewal. Judge Vincent Dinolfo declared DEC's action as 'arbitrary and capricious' with 'no rational basis.' This marks the seventh consecutive court ruling in Greenidge's favor, allowing their New York facility to continue uninterrupted operations. The court found that DEC's interpretation of the Climate Act (CLCPA) Section 7(2) was flawed and politically motivated rather than based on law. The facility will continue providing data center operations and power to the electrical grid while maintaining local high-tech jobs.
Greenidge Generation reported Q3 2024 financial results with total revenue of $12.4 million and a net loss from continuing operations of $6.3 million. The company's revenue streams included $3.3 million from cryptocurrency mining, $6.5 million from datacenter hosting, and $2.6 million from power and capacity. Year-to-date 2024 results showed total revenue of $44.7 million with a net loss of $15.9 million. The company achieved significant SG&A expense reduction, with total expenses through Q3 2024 at $13.4 million compared to $22.7 million in the same period of 2023, exceeding their $7 million reduction goal by 33%. The company ended Q3 with $11.4 million in cash and digital assets, including 60.7 bitcoin, and approximately $69.5 million of debt.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced preliminary financial and operating results for Q3 2024. Key highlights include:
- Revenue of $12.4 million
- Net loss from continuing operations of $6.6 million
- Adjusted EBITDA loss of $0.4 million
- Total bitcoin production of 167 BTC
- SG&A expense reduction of $9.1 million year-to-date, exceeding yearly goal by $2.0 million
- Cash and digital assets of $11.3 million, including 60 bitcoin
- Debt of approximately $69.5 million
The company operates a fleet of 29,000 bitcoin miners with 3.1 EH/s total hashrate capacity. Greenidge plans to upgrade its miner fleet, improving efficiency from 28.7 J/TH to 26.5 J/TH by the end of 2024. A hearing is expected in late October regarding the company's request for a temporary restraining order to continue operations at its Dresden, NY facility.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) has released its bitcoin production update for August 2024 and announced CEO Jordan Kovler's presentation at the H.C. Wainwright Annual Global Investment Conference. Key highlights include:
- Total bitcoin production: 55
- Greenidge-owned miners: 17 bitcoin
- Datacenter hosting: 38 bitcoin
- Total hash rate: 2.50 EH/s
- Greenidge-owned miners hash rate: 0.8 EH/s
- Datacenter hosting hash rate: 1.7 EH/s
- Bitcoin holdings as of September 6, 2024: 51
The company plans to upgrade its miner fleet and secure additional sites for future development throughout 2024 and 2025.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) reported its Q2 2024 financial results, showing a total revenue of $13.1 million and a net loss from continuing operations of $5.5 million. The company highlighted significant cost reductions, with SG&A decreasing by $6.4 million in the first six months of 2024 compared to 2023. Greenidge expanded its power capacity by 100 MW, securing access to 60 MW in South Carolina and commencing mining operations in Mississippi and North Dakota.
The company launched new initiatives including Greenidge Pod X, a crypto mining infrastructure solution, and a GPU datacenter pilot program. Despite temporary disruptions due to miner relocation and a planned plant outage, Greenidge expects improved earnings in future quarters due to ongoing cost savings and new offerings.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) has released its bitcoin production update for Q2 and July 2024. The company's performance fluctuated over the period:
- April: Produced 120 bitcoin (44 self-mined, 76 hosted) with a 2.80 EH/s hash rate
- May: Produced 57 bitcoin (15 self-mined, 42 hosted) with a 2.34 EH/s hash rate
- June: Produced 40 bitcoin (14 self-mined, 26 hosted) with a 1.61 EH/s hash rate
- July: Produced 58 bitcoin (19 self-mined, 39 hosted) with a 2.37 EH/s hash rate
The company's hash rate fluctuations were due to miner redeployment and a planned power plant outage. Greenidge expects increased hash rates in August with the deployment of S21 Pro miners and hydro operation improvements.