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 (GREE) operates a vertically integrated cryptocurrency mining and power generation business, combining energy production with blockchain infrastructure. This page aggregates all official news releases, financial disclosures, and operational updates from the company.
Access critical information including quarterly earnings reports, mining capacity expansions, energy efficiency initiatives, and strategic partnerships. Investors gain direct access to primary source materials detailing GREE's unique position at the intersection of cryptocurrency markets and sustainable power generation.
Content categories encompass regulatory filings, hardware deployment updates, bitcoin production metrics, and grid integration developments. The curated feed enables efficient tracking of operational milestones and market positioning within the competitive cryptocurrency mining sector.
Bookmark this page for verified updates on GREE's dual focus areas: advancing blockchain technology through ASIC mining operations and optimizing energy utilization across its power generation assets. Regularly monitor this resource for material developments impacting the company's performance.
Greenidge Generation Holdings reported Q2 2022 revenue of $31.3 million, a 94% increase year-over-year, primarily driven by a 43% rise in cryptocurrency datacenter revenue. However, the company faced a net loss of $(107.9) million, largely influenced by special items totaling $98.2 million due to a drastic drop in bitcoin prices and rising energy costs. Adjusted EBITDA fell 64% to $2.9 million. Despite challenges, plant uptime was at 100%, and mining capacity grew to approximately 2.7 EH/s by the end of July 2022.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) will release its second quarter financial results for 2022 on August 15, 2022, after market close. A management presentation is scheduled for the same day at 5 p.m. Eastern time, where the management team will discuss the results and provide a business update. The earnings will be available on Greenidge's Investor Relations website.
Greenidge is focused on carbon-neutral datacenter operations using low-carbon energy sources.
June 2022 Operational Update
Greenidge Generation Holdings Inc. (NASDAQ: GREE) reported producing approximately 230 bitcoin in June 2022, totaling 1,183 bitcoin for the first half of the year. The company's hashrate capacity stood at about 2.5 EH/s from around 27,500 miners, with an additional 200 miners in transit. Notably, 24% of this capacity is located at their Spartanburg, SC facility, operational since December 2021. Greenidge is focused on achieving 100% carbon-neutral datacenter operations.
Greenidge Generation Holdings (NASDAQ: GREE) announced that its operations in Dresden, New York, will continue uninterrupted despite the New York State Department of Environmental Conservation's denial of its Title V Air Permit renewal application. The company emphasizes that it has made significant proposals to reduce GHG emissions, including a 40% reduction by 2025 and achieving zero-carbon emissions by 2035. Greenidge argues that its facility accounts for only 0.2% of New York's targeted GHG emissions and operates in compliance with existing permits.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced the appointment of Thomas A. Champion as Vice President of Investor Relations and Business Development on June 21, 2022. Champion brings extensive experience in engaging with institutional investors, having previously worked with prominent broker-dealers such as RBS, Citi, UBS, and Chase. His role aims to enhance market education regarding Greenidge's opportunities. The company focuses on carbon-neutral bitcoin mining, utilizing low-carbon energy sources.
May 2022 Operational Update
Greenidge Generation Holdings Inc. (NASDAQ: GREE) reported operational results for May 2022, producing approximately 195 bitcoin. As of May 31, 2022, the company had mining capacity of about 1.7 EH/s, supported by around 20,400 miners. Notably, 25% of this capacity is based in Spartanburg, SC, which began operations in December 2021. Greenidge aims for 100% carbon-neutral datacenter operations by utilizing low-carbon energy sources.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced that its New York facility will remain unaffected by the recently approved Senate Bill S6486D, which aims to limit air quality permits for cryptocurrency mining. According to the company's official statement, the bill's language confirms that it does not apply to Greenidge's operations, allowing the Dresden, NY facility to continue without interruption. The renewal application for the facility was filed on March 5, 2021, ensuring its compliance with existing regulations.
Greenidge Generation Holdings reported significant financial growth in Q1 2022, with total revenue reaching $37.7 million, a 240% increase year-over-year. Cryptocurrency datacenter revenue rose 158% to $23.2 million. The net loss stood at $0.4 million, compared to a net income of $1.3 million in Q1 2021. Adjusted EBITDA was $9.2 million, or 24.5% of revenue. Greenidge produced 561 bitcoin in the quarter, with a liquidity of approximately $126 million as of March 31, 2022. In April, 197 bitcoin were produced, maintaining a mining capacity of 1.6 EH/s.
Greenidge Generation Holdings Inc. (GREE) reported preliminary results for Q1 2022, anticipating revenues of approximately $38 million and Adjusted EBITDA between $8 million and $10 million. The company produced about 561 bitcoin with a mining capacity of 1.6 EH/s from 19,400 miners. As of March 31, 2022, Greenidge held $122 million in liquidity, including $97 million in cash. An additional 29,800 miners are scheduled for delivery, projected to increase capacity to 4.7 EH/s. The company is working with the New York Department of Environmental Conservation for a permit renewal, which is extended to June 30, 2022.
Greenidge Generation Holdings (GREE) reported a remarkable increase in total revenue to $44.3 million, up 617% year-over-year for Q4 2021. Cryptocurrency datacenter revenue soared to $33.7 million, marking a 676% increase. Despite a GAAP net loss of $41.4 million, mainly due to a $42.3 million noncash goodwill impairment, adjusted EBITDA reached $19.1 million, representing a 43.2% margin. The company produced 609 bitcoins in Q4 and had liquidity of $84.4 million as of December 31, 2021. Greenidge aims to enhance its mining capacity with additional miner deliveries throughout 2022.
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