Greenidge Generation Holdings Inc.
- Open
- 1.83
- Day high
- 1.90
- Day low
- 1.83
- Prev close
- 1.83
- Volume
- 47K
- Mkt cap
- $52M
- P/E (TTM)
- 25.8
- EPS (TTM)
- $0.07
- P/B
- -0.9
- P/S
- 1.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$175K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions reducing (13F)
Greenidge Generation Holdings Inc. (GREE) is a Financial Services company listed on NASDAQ. The stock is up 41% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Greenidge Generation Holdings Inc. (GREE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GREE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 15, 2026 | — | $-0.29 | — | $21M | — |
| Mar 31, 2026 | $-0.50 | $0.19 | +138.0% | $12M | -16.1% |
| Nov 13, 2025 | $-0.47 | $0.75 | +259.6% | $15M | +8.7% |
| Aug 13, 2025 | $-0.44 | $-0.27 | +38.6% | $13M | -10.1% |
| May 15, 2025 | $-0.57 | $-0.40 | +29.8% | $19M | +29.8% |
| Mar 6, 2025 | $-0.57 | $-0.30 | +47.0% | $15M | +8.8% |
| Nov 7, 2024 | $-0.53 | $-0.60 | -13.2% | $12M | -13.0% |
| Aug 14, 2024 | $-0.37 | $-0.55 | -48.6% | $13M | -18.9% |
| May 15, 2024 | $-0.34 | $-0.37 | -8.8% | $19M | -4.3% |
| Nov 14, 2023 | — | $-1.17 | — | $21M | -6.2% |
| Aug 14, 2023 | $-0.80 | $-1.43 | -78.7% | $15M | -20.0% |
| May 15, 2023 | $-1.00 | $-1.60 | -60.0% | $15M | -16.7% |
GREE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 24, 2026 | Irwin Daleofficer: President | Sell | 21,154 | $2.45 |
| Jul 24, 2026 | Mulvihill Christianofficer: Chief Financial Officer | Sell | 14,738 | $2.45 |
| Jul 24, 2026 | Kovler Jordandirector, officer: Chief Executive Officer | Sell | 35,721 | $2.45 |
| Jul 22, 2026 | Kovler Jordandirector, officer: Chief Executive Officer | Grant | 125,000 | — |
| Jul 22, 2026 | Irwin Daleofficer: President | Grant | 50,000 | — |
| Jul 22, 2026 | Mulvihill Christianofficer: Chief Financial Officer | Grant | 35,000 | — |
| Mar 13, 2026 | Irwin Daleofficer: President | Grant | 110,000 | — |
| Mar 13, 2026 | Irwin Daleofficer: President | Tax | 39,655 | $1.38 |
| Mar 13, 2026 | Kovler Jordandirector, officer: Chief Executive Officer | Grant | 110,000 | — |
| Mar 13, 2026 | Kovler Jordandirector, officer: Chief Executive Officer | Tax | 26,785 | $1.38 |
| Mar 13, 2026 | Mulvihill Christianofficer: Chief Financial Officer | Grant | 95,000 | — |
| Mar 13, 2026 | Mulvihill Christianofficer: Chief Financial Officer | Tax | 34,010 | $1.38 |
| Feb 4, 2026 | Mulvihill Christianofficer: Chief Financial Officer | Sell | 1,953 | $1.28 |
| Feb 4, 2026 | Irwin Daleofficer: President | Sell | 6 | $1.26 |
| Feb 4, 2026 | Irwin Daleofficer: President | Sell | 1,979 | $1.28 |
Source: GREE SEC Form 4 filings, latest Jul 24, 2026. For informational purposes only — not investment advice.
See the full GREE insider & 13F page →Greenidge Generation Holdings Inc. company profile
Overview
Greenidge Generation Holdings Inc. (NASDAQ:GREE) is an integrated cryptocurrency datacenter and power generation company founded in 1937 and based in Fairfield, Connecticut. Originally established as a traditional power generation company, Greenidge underwent a significant transformation in recent years by pivoting into cryptocurrency mining operations. The company went public in 2000 and has since evolved into a dual-purpose entity that both generates electricity and operates cryptocurrency mining datacenters. Today, Greenidge operates facilities in New York and South Carolina, combining its legacy power generation capabilities with modern cryptocurrency mining infrastructure.
Business
Greenidge operates in the intersection of two distinct industries: power generation and cryptocurrency mining. The company's core business model revolves around leveraging its owned power generation assets to support energy-intensive cryptocurrency mining operations, primarily Bitcoin mining. The company owns and operates a 106 MW power generation facility, which serves as the foundation for its operations. This facility generates electricity that can either be sold to the grid or used internally to power cryptocurrency mining equipment. Cryptocurrency mining, particularly Bitcoin mining, is an energy-intensive process where specialized computers called miners solve complex mathematical problems to validate transactions on the blockchain network. In return for this computational work, miners are rewarded with newly created cryptocurrency tokens. Greenidge operates cryptocurrency datacenters in two primary locations: Dresden, New York (with 2.1 exahash capacity at 60 MW) and Spartanburg, South Carolina (with 1.5 exahash capacity at 50 MW). An exahash represents the computational power or "hashrate" of mining equipment, measuring how many calculations the mining hardware can perform per second. Higher hashrate typically correlates with greater mining rewards. The company's revenue streams are divided between: 1) Cryptocurrency mining revenue (approximately 70-80% of total revenue based on recent financial data), generated through Bitcoin mining rewards, and 2) Power generation revenue (approximately 20-30% of total revenue), earned by selling excess electricity to the grid when it's more profitable than using it for mining operations.
Revenue model
Greenidge generates revenue through two primary channels that create a flexible business model allowing the company to optimize between electricity sales and cryptocurrency mining based on market conditions. The cryptocurrency mining revenue represents the larger portion of the company's income, generated by successfully mining Bitcoin and other cryptocurrencies. The company earns newly minted Bitcoin as rewards for validating blockchain transactions, which are then typically sold for cash to fund operations. This revenue stream is highly volatile and depends on several factors: the price of Bitcoin, the network difficulty (how hard it is to mine), the company's hashrate capacity, and operational efficiency. The power generation revenue provides a secondary income stream where Greenidge sells excess electricity to the grid when power prices are favorable compared to the potential mining rewards. This creates operational flexibility - during periods of high electricity prices or low Bitcoin prices, the company can redirect power generation toward grid sales rather than mining operations. Several factors significantly impact the company's margins. Cryptocurrency price volatility directly affects mining profitability, as higher Bitcoin prices increase the dollar value of mining rewards. Network difficulty adjustments in Bitcoin mining can reduce the amount of Bitcoin earned for the same computational effort. Energy costs and electricity market prices create both opportunities and challenges - high grid prices can make power sales attractive but also increase operational costs if the company needs to purchase additional power. Mining equipment efficiency and technological obsolescence affect operational costs, as newer, more efficient miners can generate more revenue per unit of electricity consumed. Regulatory changes, particularly around cryptocurrency mining and environmental regulations, pose ongoing risks to operations and profitability.
Competitive moat
Greenidge's competitive position is relatively weak, with limited sustainable competitive advantages in an increasingly commoditized industry. The company's primary differentiator lies in its integrated power generation and mining model, which provides some operational flexibility and potentially lower electricity costs compared to miners who must purchase power from third parties. This integration allows Greenidge to optimize between power sales and mining operations based on market conditions, providing a hedge against cryptocurrency volatility. However, this moat is not particularly strong or durable. The cryptocurrency mining industry is highly competitive and characterized by rapid technological change, where competitive advantages quickly erode as new, more efficient mining equipment becomes available. Large-scale mining operations with access to cheaper electricity sources, particularly those in regions with abundant renewable energy or industrial-scale power contracts, can achieve lower operational costs. The company faces significant competitive threats from several directions. Large institutional miners with greater scale and capital resources can negotiate better equipment prices and power contracts. International competitors, particularly those in regions with very low electricity costs, can operate at significantly lower margins. Technological disruption poses an ongoing threat, as more efficient mining hardware can quickly obsolete existing equipment. Additionally, regulatory risks are substantial, as governments worldwide are implementing various restrictions on cryptocurrency mining due to environmental concerns, potentially limiting operational flexibility or forcing costly compliance measures. The power generation component provides some stability, but this is a regulated utility business with limited growth prospects and modest returns. Overall, Greenidge operates in a highly competitive, capital-intensive industry with limited barriers to entry and significant technological and regulatory risks.
Risks & safety
Greenidge presents significant financial risks with a concerning margin of safety profile, reflecting the challenges of operating in the volatile cryptocurrency mining sector. • Liquidity and Cash Position: The company maintains approximately $4.9 million in cash and short-term investments as of Q1 2025, representing a relatively thin liquidity cushion given the capital-intensive nature of the business and ongoing operational cash burn. • Cash Flow and Profitability: Greenidge has consistently generated negative free cash flow, with Q1 2025 showing -$6.6 million in free cash flow and -$5.7 million in operating cash flow. The company has been unprofitable with net losses across recent quarters. • Debt and Solvency: Total liabilities of $115 million significantly exceed total assets of $57 million, resulting in negative shareholder equity of approximately -$58 million. This indicates potential solvency concerns, though the debt-to-equity ratio shows 0.0, suggesting the liabilities may be operational rather than traditional debt. • Valuation Metrics: With a market capitalization of approximately $23 million and negative earnings, traditional valuation metrics are not meaningful. The company trades at extremely low absolute values, suggesting either significant undervaluation or substantial business risks. • Current Ratio: The current ratio of 1.41 provides some short-term liquidity comfort, indicating the company can meet immediate obligations, though this is not particularly strong given the cash burn rate. • Other Considerations: The volatile nature of cryptocurrency markets creates unpredictable revenue streams, while the capital-intensive mining equipment requires ongoing investment to maintain competitiveness.
Recent development
Based on the available financial data and the 2022 earnings call transcript, Greenidge has undergone significant strategic changes in recent years. The company executed a major strategic pivot toward liquidity preservation and operational consolidation, moving away from aggressive expansion plans to focus on optimizing existing operations. The company concentrated its operations at two primary sites: the Dresden, New York facility (2.1 exahash capacity, 60 MW) and the Spartanburg, South Carolina facility (1.5 exahash capacity, 50 MW). This consolidation strategy aimed to develop a total of 3.6 exahash of mining capacity while keeping infrastructure build costs under $7.5 million. The Spartanburg facility received an electrical service upgrade to support expanded operations. Greenidge implemented a flexible power selling strategy that allows the company to optimize between cryptocurrency mining and electricity sales based on market conditions. During periods of high energy prices, the company can redirect power generation toward grid sales rather than mining operations, providing operational flexibility and revenue diversification. The company has focused on operational efficiency improvements, achieving 100% uptime at the Dresden facility and prioritizing the deployment of newer, more efficient mining equipment. This approach helps maintain competitiveness in the rapidly evolving cryptocurrency mining landscape where equipment efficiency directly impacts profitability. However, the company has faced significant challenges, including regulatory scrutiny in New York regarding environmental permits, substantial asset impairments, and the need to manage operations during periods of cryptocurrency market volatility. The strategic shift toward liquidity preservation reflects the challenging market conditions and the capital-intensive nature of the cryptocurrency mining business.
GREE company profile · for informational purposes only — not investment advice.
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