8-K
filed April 10, 2024, 7:59 PM ET
ticker GREE
CIK 0001844971
earnings
confidence high
sentiment positive
materiality 0.65
Greenidge Q4 2023 EPS $0.36 beats guidance; debt cut 54% to $72M
Greenidge Generation Holdings Inc.
2024-Q1 EPS reported
-$0.42
revenue$19,333,000
- Q4 revenue $19.6M, net income $2.7M, adjusted EBITDA $3.6M, all above guidance ranges.
- Full year 2023 revenue $70.4M, GAAP net loss $29.0M (incl. $4.0M impairment, $2.4M environmental remeasurement).
- Debt reduced 54% from $157.3M to $72M; year-end cash $13.3M.
- Recent Q1 2024: added ~100 MW low-cost power (60 MW SC, 32.5 MW MS, 7.5 MW ND); $6M Armistice Capital investment.
- Bitcoin production 2023: 2,938 BTC total (891 self-mined, 2,047 hosting); deploying 2,700 idle miners in Q1 2024.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Greenidge Generation Holdings Inc. reported fiscal year ended December 31, 2023 results: revenue $70.4 million, net income $29.0 million.
- Period
- fiscal year ended December 31, 2023
- Revenue
- $70.4 million
- Net income
- $29.0 million
- Result
- reported results
Exact text from the filing
Full Year 2023 Financial Results & Highlights: • Total revenue of $70.4 million; • Debt reduced by 54% to $72 million from $157.3 million; • Diversified revenue stream through hosting arrangements; • Partnership announced with Infinite Reality, Inc. to enter AI and HPC datacenter space; • GAAP net loss from continuing operations of $29.0 million, including $4.0 million of noncash impairment charges and $2.4 million from remeasurement of environmental liabilities; • Adjusted EBITDA of $153,000;
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Greenidge Generation Holdings Inc. reported fourth quarter ended December 31, 2023 results: revenue $19.6 million, net income $2.7 million, EPS $0.36.
- Period
- fourth quarter ended December 31, 2023
- Revenue
- $19.6 million
- Net income
- $2.7 million
- EPS
- $0.36
- Result
- reported results
Exact text from the filing
Fourth Quarter 2023 Financial Results: • Total revenue of $19.6 million; • Net income from continuing operations of $2.7 million, above guidance of $1.4 million to $2.4 million; • Adjusted EBITDA of $3.6 million, above guidance of $1.6 million to $2.6 million; • Earnings per share of $0.36, above guidance of $0.18 to $0.32;
View on SEC.gov
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