Greenidge Generation Holdings

Support.com Inc is engaged in the provision of cloud-based software and services, which enables technology support for a connected world. The company offers turnkey, outsourced support services for service providers, retailers, internet of things solution providers, and technology companies. The firm's technology support services programs are designed for both the consumer and small and medium business markets and include computer and mobile device set-up, security and support, virus and malware removal, wireless network set-up, and home security and automation system support. Geographically, the company has a presence across the region of the US, Philippines and India.

Support.com

Greenidge Generation Holdings, Inc. owns and operates a vertically integrated Bitcoin mining and power generation facility. It engages in the mining of Bitcoin and contributes to the security and transactability of the Bitcoin ecosystem while concurrently meeting the power needs of homes and businesses. The company was founded in 2014 and is headquartered Dresden, NY.

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Mastercard

Despite Bitcoin ( BTC-USD ) losing its long-term support of $29,000, investors shouldn't discount the value of blockchain stocks in the short term. If one is bullish on the future of digital currencies and the underlying technology, then technical weaknesses like this might be meaningless in the long run.

The 3 Most Undervalued Blockchain Stocks to Buy in September 2023

Expects to Eliminate Remaining $22 Million of Secured Debt by Selling South Carolina Mining Site to NYDIG Greenidge Expects to Receive $4.9 million of Cash, Less Certain Costs, with Potential to Earn up to $2.6 million Additional Cash in Bonus Payments Greenidge Generation Reports Second Quarter 2023 South Carolina Mining Facility Completed 26 MW Expansion and Construction of Mining Infrastructure to increase site capacity to 44 MW Entered into Term Sheet with NYDIG to sell approximately 25 acres of land and 44 MW of mining capabilities in Spartanburg, SC All of Greenidge's remaining $21.8 million of secured debt would be eliminated Greenidge would receive $4.9 million of cash, less certain closing costs and accrued interest on secured debt, and up to $2.6 million in potential bonus payments Current Hosting Agreement amended, effective immediately, for Greenidge to host additional NYDIG miners with the additional 26 MW of capacity until closing of sale. Second Quarter 2023 Highlights Total revenue was $14.7 million Cryptocurrency datacenter hosting revenue was $9.7 million, and Cryptocurrency datacenter self-mining revenue was $4.0 million GAAP net loss from continuing operations was $9.8 million Adjusted EBITDA loss from continuing operations of $2.4 million 143 bitcoins were produced from self-mining Operated active mining capacity of approximately 4.1 EH/s from 38,700 miners as of June 30, 2023 Cash of $15.4 million as of June 30, 2023 Adjusted EBITDA loss continuing operations is a non-GAAP measure.

Greenidge Completes Expansion of South Carolina Mining Facility to 44 MW

PASADENA, Calif.--(BUSINESS WIRE)---- $GREE #acquisition--RealDefense, a leading company specializing in consumer security, privacy, and productivity software and support services, announces its successful acquisition of Support.com from parent company Greenidge Generation Holdings, Inc. (NASDAQ: GREE). This strategic move is part of RealDefense's ongoing mergers and acquisitions (M&A) and roll-up strategy, aimed at expanding its service offerings. The acquisition includes Support.com's customer base, call center.

RealDefense Acquires Support.com

Greenidge Generation Holdings Inc. (GREE) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to earnings of $0.03 per share a year ago.

Greenidge Generation Holdings Inc. (GREE) Reports Q1 Loss, Lags Revenue Estimates

First Quarter 2023 Highlights Results in line with guidance provided on April 21, 2023 Total revenue was $15.2 million Cryptocurrency datacenter hosting revenue was $6.9 million, and Cryptocurrency datacenter self-mining revenue was $6.5 million GAAP net loss from continuing operations was $8.8 million Adjusted EBITDA loss from continuing operations of $1.1 million Cryptocurrency datacenter operations produced 698 bitcoins in the first quarter; 393 bitcoins produced for colocation and 305 bitcoins were produced for self-mining Operated active mining capacity of approximately 2.5 EH/s from 24,700 miners as of March 31, 2023 Cash of $17.0 million as of March 31, 2023 Adjusted EBITDA loss continuing operations is a non-GAAP measure. See the table attached to this press release for a reconciliation from GAAP to non-GAAP measures and "Use of Non-GAAP Information" below for more details.

Greenidge Generation Reports First Quarter 2023

The Company's Class A common stock will begin trading on a split-adjusted basis on May 16, 2023 FAIRFIELD, Conn. , May 15, 2023 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge" or the "Company"), a vertically integrated cryptocurrency datacenter and power generation company, today announced that its previously announced 1-for-10 reverse stock split (the "Reverse Stock Split") of the Company's Class A common stock, par value $0.0001 per share will become effective as of 12:01 a.m.

Greenidge Generation's 1-for-10 Reverse Stock Split Will Become Effective

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Greenidge Signs Hosting Agreement with Core Scientific for 6,914 Greenidge-Owned Miners to Be Operated at Core Scientific's Facilities in Dalton, Georgia and Calvert City, Kentucky Greenidge Announces the Installation of 1,500 Additional Miners in its Existing Facilities Across the Country Initiatives Represent Incremental Annual Profit of ~ $7.5 Million to Greenidge FAIRFIELD, Conn. , April 27, 2023 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge" or the "Company"), a vertically integrated cryptocurrency data center and power generation company, today announced it has entered into an agreement with Core Scientific, Inc. (OTC: CORZQ) ("Core Scientific" or "Core") in which Core will host and operate Greenidge-owned bitcoin miners at its facilities in Dalton, GA and Calvert City, KY.

Greenidge Generation Deploys 8,400 Rigs with Capacity of ~ 1.0 EH/s

FAIRFIELD, Conn. , April 21, 2023 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge"), a vertically integrated cryptocurrency datacenter and power generation company, today announced selected preliminary financial and operating results for the first quarter of 2023.

Greenidge Generation Announces Selected Preliminary Financial and Operating Results for First Quarter 2023

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Fourth Quarter 2022 Highlights Total revenue was $16.0 million, compared to January 2023 guidance of ~$15 million Cryptocurrency datacenter revenue was $12.2 million, in line with January 2023 guidance Produced 683 bitcoins in the fourth quarter GAAP net loss from continuing operations of $135.0 million for the fourth quarter, including a $104.8 million noncash impairment charge and a $5.6 million charge for the remeasurement of environmental liabilities Adjusted EBITDA loss of $4.9 million, in line with January 2023 guidance of a loss of $4 million to $6 million Adjusted net loss from continuing operations of $25.7 million Active Mining capacity of approximately 2.4 EH/s from 24,200 miners as of December 31, 2022 Cash, short term investments and cryptocurrency holdings of $15.7 million as of December 31, 2022 Full Year 2022 Highlights Total revenue was $90.0 million Cryptocurrency datacenter revenue of $73.8 million Produced 2,731 bitcoins in 2022 GAAP net loss from continuing operations of $269.7 million, including $176.3 million of noncash impairment charges and $16.7 million charge for the remeasurement of environmental liabilities Adjusted EBITDA loss of $1.1 million Adjusted net loss from continuing operations of $60.4 million First Quarter 2023 Actions Restructured secured debt with NYDIG, reducing debt and accrued interest obligations from $75.8 million to $17.3 million Restructured promissory note with B. Riley, reducing debt and accrued interest obligations from $10.6 million to $8.7 million Entered into hosting arrangement with NYDIG affiliates with gross profit-sharing component that allows Greenidge to participate in bitcoin price appreciation Atlas and B.

Greenidge Generation Reports Fourth Quarter and Full Year 2022

FAIRFIELD, Conn. , March 27, 2023 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge"), a vertically integrated cryptocurrency datacenter and power generation company, has appointed Jordan Kovler, a seasoned leader in investor relations and corporate governance with two decades of leadership at advisory firms, to its Board of Directors, effective March 22, 2023.

Greenidge Generation Appoints Jordan Kovler to Board of Directors

VANCOUVER, British Columbia, March 15, 2023 (GLOBE NEWSWIRE) -- Conifex Timber Inc. (“Conifex”, “we” or “us”) (TSX: CFF) announced today that it has entered into a hosting services agreement (the "Agreement") with Greenidge Generation Holdings Inc. ("Greenidge"), a cryptocurrency datacenter and power generation company. Tsay Keh Dene Nation ("Tsay Keh Dene") is collaborating with us in supplying hosting services to Greenidge.

Conifex Signs Hosting Services Agreement with Greenidge Generation

Agreement Includes Prospect of Up To 28 MW of Mining Capacity FAIRFIELD, Conn. , March 15, 2023 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge" or the "Company") a cryptocurrency datacenter and power generation company, announced today that it has executed a new hosting agreement with Conifex Timber Inc. (TSX:CFF) ("Conifex").

Greenidge Generation Expands Footprint with New Hosting Services Agreement Using Renewable Energy with Conifex Timber in British Columbia, Canada

NEW YORK , March 10, 2023 /PRNewswire/ --  WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Greenidge Generation Holdings Inc. (NASDAQ: GREE, GREEL) resulting from allegations that Greenidge may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Greenidge securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

GREE INVESTOR NOTICE: ROSEN, A TOP RANKED LAW FIRM, Encourages Greenidge Generation Holdings Inc. Investors to Inquire About Securities Class Action Investigation - GREE, GREEL

NEW YORK , March 3, 2023 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Greenidge Generation Holdings Inc. (NASDAQ: GREE, GREEL) resulting from allegations that Greenidge may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Greenidge securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Greenidge Generation Holdings Inc. Investors to Inquire About Securities Class Action Investigation - GREE, GREEL

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Greenidge Generation Holdings Inc. (NASDAQ: GREE; GREEL) resulting from allegations that Greenidge may have issued materially misleading business information to the investing public.

EQUITY ALERT: ROSEN, A TOP RANKED LAW FIRM, Encourages Greenidge Generation Holdings Inc. Investors to Inquire About Securities Class Action Investigation – GREE; GREEL

Greenidge Restructures ~$76 Million of Secured Debt with NYDIG, Reducing Obligations to ~$17 Million, With Potential for Additional $10 Million Reduction Greenidge Restructures B. Riley $11 Million Promissory Note, Reducing Cash Obligations to ~$9 Million Enters into Hosting Agreements with NYDIG Affiliates With Gross Profit-Sharing Component to Allow Greenidge to Participate in Potential Bitcoin Price Appreciation Continues to Own ~10,000 Miners with a Capacity of ~1.1 EH/s Completes Sale of a Portion of Support.com for ~$3.0 Million Announces  Selected Preliminary Fourth Quarter Financial Results FAIRFIELD, Conn.

Greenidge Generation Restructures and Significantly Reduces Secured Debt

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Greenidge Generation (NASDAQ: GREE ) stock is falling on Wednesday as investors brace for a potential bankruptcy filing. According to a press release from the company, there continues to be uncertainty concerning its ability to continue operations.

GREE Stock Alert: Is Greenidge Generation Headed for Bankruptcy?

Aiming to stave off bankruptcy, crypto miner Greenidge Generation is aiming to restructure its debt.  The firm said in a Tuesday (Dec. 20) press release that it is working to restructure a significant portion of its debt with NYDIG.

Crypto Miner Greenidge Generation Seeks Debt Restructuring

FAIRFIELD, Conn. , Dec. 20, 2022 /PRNewswire/ -- Lender Negotiations Update Entered into a non-binding term sheet with NYDIG regarding approximately $74 million of debt contemplating the following terms: NYDIG would purchase miners with approximately 2.8 EH/s of mining capacity Greenidge would enter into a hosting agreement with NYDIG for approximately 2.8 EH/s of mining capacity, which would result in a material change to Greenidge's current business strategy and result in Greenidge largely operating miners owned by NYDIG, rather than operating miners owned by Greenidge Greenidge may transfer certain credits, coupons and additional assets to NYDIG, including mining infrastructure awaiting deployment at potential mining sites, contingent upon Greenidge facilitating for NYDIG rights to a mining site within three months following the completion of debt restructuring and hosting agreements In exchange for the purchased miners and transfer of mining infrastructure and credits to NYDIG, NYDIG would agree to a reduction of approximately $57 to $68 million of debt Greenidge will be pledging substantially all of its unencumbered assets to NYDIG to secure the remaining balance of the loan Greenidge would retain ownership of miners with a capacity of 1.2 EH/s Any change in the terms reflected in this non-binding term sheet could have a material adverse effect on Greenidge and its stockholders and could further impact its liquidity and its ability to continue as a going concern.

Greenidge Generation Executes Term Sheet with Secured Lender NYDIG Regarding Debt Renegotiations; Provides Liquidity Update

Greenidge Generation (NASDAQ: GREE ) stock is up more than 30% today after the cryptocurrency miner received a delisting notice for failing to maintain a minimum price per share of $1. New York-based Greenidge has been informed by the Nasdaq index on which it trades that its stock will be delisted if it does not manage to get its share price up above $1 by June 2023.

Why Is Greenidge (GREE) Stock Up 30% Today?

Greenidge Generation Holdings Inc. (GREE) delivered earnings and revenue surprises of -4% and 5.75%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Greenidge Generation Holdings Inc. (GREE) Reports Q3 Loss, Lags Revenue Estimates

Third Quarter 2022 Revenue of $29.4 million for the third quarter of 2022 Produced approximately 866 bitcoin during the third quarter Power plant uptime of 100.0% in third quarter, 99.9% YTD through September 30, 2022, and 98.3% LTM, including downtime for scheduled maintenance outages Mining capacity of approximately 2.4 EH/s from approximately 24,500 miners in service at September 30, 2022 $39 million in cash and fair value of cryptocurrency holdings at September 30, 2022 GAAP net loss of $(23.1) million for the quarter Adjusted EBITDA loss of $(2.3) million for the quarter LTM Adjusted EBITDA of $28.4 million October 2022 Operational Update Produced approximately 269 bitcoin in October 2022 Approximately 2.5 EH/s of mining capacity from approximately 24,500 miners in service as of October 31, 2022 Power plant uptime of 97.8%, as a scheduled annual maintenance period began at end of October Adjusted net (loss) income, Adjusted EBITDA, Adjusted EBITDA margin and last twelve months ("LTM") Adjusted EBITDA are non-GAAP measures. See the tables attached to this press release for a reconciliation from GAAP to non-GAAP measures and "Use of Non-GAAP Information" below for more details.

News for Greenidge Generation Holdings Stock (GREE)