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. (Nasdaq: GREE) is a vertically integrated power generation and cryptocurrency datacenter company whose news flow centers on operations, regulatory developments, capital structure, and asset transactions. Company announcements describe a business that combines power generation with cryptocurrency mining, datacenter hosting, and power and capacity activities, anchored by its Dresden, New York facility.
On this page, readers can review GREE news related to cryptocurrency mining performance, datacenter hosting activity, and power and capacity revenue, as reported in company press releases. Greenidge regularly issues updates on quarterly financial and operating results, including metrics such as total revenue, cryptocurrency mining revenue, datacenter hosting revenue, power and capacity revenue, and bitcoin production, along with non-GAAP measures like EBITDA, Adjusted EBITDA, and Adjusted Free Cash Flow.
Greenidge news also covers significant regulatory milestones, particularly around the company’s Title V Air Permit for the Dresden facility. The company has reported a stipulation of settlement with the New York State Department of Environmental Conservation and a historic agreement on a new five-year permit that includes greenhouse gas emissions limits and confirms the facility’s ability to continue supplying power to the local grid while operating as a cryptocurrency datacenter.
Another recurring theme in GREE updates is capital structure and debt management, including tender and exchange offers for its 8.50% Senior Notes due 2026 and the issuance of 10.00% Senior Notes due 2030. Press releases detail the terms, early results, and final results of these offers. In addition, Greenidge issues news about asset sales and development, such as the sale of its Mississippi bitcoin mining facility and the sale of its Spartanburg, South Carolina property and associated electrical capacity rights, as well as commentary on expansion properties and power contracts.
Investors and observers who follow GREE news can use this page to monitor company-reported developments affecting its power generation operations, cryptocurrency mining and hosting activities, regulatory agreements, and senior notes. Bookmark this feed to access a consolidated view of Greenidge’s official announcements and updates over time.
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Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced its preliminary financial results for Q1 2023. Expected revenue is approximately $15 million, with a projected net loss between $8 million and $9 million. Adjusted EBITDA is anticipated to show a loss ranging from $1 million to $2 million. Datacenter hosting revenue is expected to be $7 million, while self-mining revenue is estimated at $6 million. The company produced 698 bitcoin in the quarter, with 413 bitcoin from colocation and 285 bitcoin from self-mining. Greenidge ended the quarter with $17 million in cash and $97 million in debt. These results are preliminary estimates and subject to change as final financial statements are prepared.
Greenidge Generation Holdings reported Q4 2022 revenue of $16.0 million, exceeding January guidance of ~$15 million, driven primarily by $12.2 million in cryptocurrency datacenter revenue. The company produced 683 bitcoins in Q4, up from 609 in the previous year. However, GAAP net loss reached $135.0 million, heavily influenced by a $104.8 million noncash impairment charge. For the full year, total revenue was $90 million, with a net loss of $269.7 million. In Q1 2023, Greenidge took significant steps to improve liquidity, restructuring debt with NYDIG and B. Riley, which lowered total debt obligations by roughly $59 million, enhancing its financial position.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) has appointed Jordan Kovler to its Board of Directors, effective March 22, 2023. With over two decades of experience in investor relations and corporate governance, Kovler is recognized for his work with Web3 companies and advisory roles. CEO Dave Anderson emphasized Kovler's passion for innovation and stakeholder engagement, which aligns with the company's goals following recent challenges in the cryptocurrency sector. Kovler expressed excitement about contributing to Greenidge's momentum in the industry, further solidifying its reputation.
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