Greenidge Generation Holdings (GREE) AI Stock Analysis

• Market Cap: $26.70M
• Dividend Yield: N/A
• Average Volume (3M): 350.21K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.32
• Revenue Growth: -3.52%
• EPS Growth: 83.39%
• Country: US
• Employees: 35
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.75
• Shares Outstanding: 13,065,603
• 10 Day Avg. Volume: 416,104
• 30 Day Avg. Volume: 350,212
• PEG Ratio: 0.01
• Price to Book (P/B): -0.29
• Price to Sales (P/S): 0.27
• P/FCF Ratio: -0.72
• Enterprise Value/Market Cap: 2.71
• Enterprise Value/Revenue: 1.16
• Enterprise Value/Gross Profit: 3.64
• Enterprise Value/Ebitda: 4.31
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $1.50 ▼(-1.96% Downside)

Greenidge Generation Holdings' overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and negative equity. While technical analysis shows some potential for stabilization, valuation remains unattractive due to ongoing losses. Recent corporate events provide some positive momentum, but financial challenges remain the most significant factor.

Positive Factors

Regulatory Relief

The easing of SEC regulations on crypto firms can reduce legal risks and compliance costs, potentially improving operational stability and profitability.

Asset Optimization

Selling non-core assets strengthens the balance sheet and reduces debt, enhancing financial flexibility and focusing resources on core operations.

Environmental Compliance

Aligning operations with environmental regulations secures operational continuity and strengthens the company's position in the energy market.

Negative Factors

Negative Equity

Negative equity indicates financial instability, limiting the company's ability to raise capital and invest in growth opportunities.

Declining Revenue

Consistent revenue decline suggests weakening market position and challenges in maintaining competitive advantages, impacting long-term growth.

Cash Flow Challenges

Negative cash flow from operations indicates inefficiencies in converting revenue to cash, posing risks to liquidity and operational sustainability.

Greenidge Generation Holdings Business Overview & Revenue Model

Company Description

Greenidge Generation Holdings (GREE) is a vertically integrated cryptocurrency and blockchain infrastructure company that operates a power generation facility in New York. The company specializes in utilizing its excess energy capacity to power cryptocurrency mining operations, primarily Bitcoin mining. Greenidge aims to leverage its unique position at the intersection of energy production and cryptocurrency to provide sustainable and cost-effective mining solutions while contributing to the energy grid's reliability.

How the Company Makes Money

Greenidge Generation Holdings generates revenue through multiple streams, primarily by selling electricity to the grid and using excess capacity for its cryptocurrency mining operations. The company profits from the sale of mined Bitcoin, which is influenced by market prices and mining efficiency. Additionally, Greenidge has established partnerships with various blockchain and cryptocurrency entities to enhance its operational capabilities and expand its reach in the market. The integration of power generation and cryptocurrency mining allows Greenidge to capitalize on fluctuating energy prices while maintaining robust operational margins, further contributing to its earnings.

Greenidge Generation Holdings Financial Statement Overview

Summary

Greenidge Generation Holdings faces significant financial challenges, with declining revenues, consistent losses, and negative equity. While there is a reduction in debt, the company struggles with profitability and cash generation. These factors indicate a need for strategic improvements to achieve financial stability and growth.

Income Statement

Greenidge Generation Holdings has shown declining revenue over recent years, with a significant decrease from $107.3 million in 2021 to $59.5 million in 2024. The company has consistently reported negative EBIT and net income, indicating ongoing operational challenges. Gross profit margin improved to 79.7% in 2024, but the net profit margin remains deeply negative at -33.2%, reflecting insufficient profitability.

Balance Sheet

The company has negative stockholders' equity, which is a concern for financial stability. Total debt has been eliminated by 2024, but the high liabilities compared to assets result in a negative equity ratio. The debt-to-equity ratio is not applicable due to negative equity. ROE is negative, matching the net loss trend, highlighting inefficiencies in generating returns on equity.

Cash Flow

Cash flow from operations is consistently negative, with no free cash flow growth due to ongoing losses. While the company has improved its debt position, the operating cash flow to net income ratio indicates inefficiencies in converting net income to cash. Free cash flow to net income is also negative, reflecting operational and capital expenditure challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	62.12M	59.53M	70.39M	89.98M	97.33M	20.11M
Gross Profit	19.85M	47.45M	19.38M	28.43M	68.94M	7.51M
EBITDA	16.76M	699.00K	-2.78M	-181.33M	45.37M	1.94M
Net Income	-1.63M	-19.79M	-29.51M	-269.74M	-44.48M	-3.29M
Balance Sheet
Total Assets	50.57M	64.86M	71.18M	163.77M	341.27M	64.57M
Cash, Cash Equivalents and Short-Term Investments	7.58M	8.62M	13.31M	15.22M	83.09M	5.05M
Total Debt	3.54M	68.07M	68.71M	152.35M	95.76M	8.21M
Total Liabilities	99.97M	120.61M	122.20M	210.81M	128.84M	20.21M
Stockholders Equity	-49.41M	-55.75M	-51.02M	-47.05M	212.42M	44.36M
Cash Flow
Free Cash Flow	-20.25M	-22.47M	-25.99M	-147.44M	-118.31M	-4.04M
Operating Cash Flow	-14.29M	-12.04M	-12.97M	-14.48M	45.26M	557.00K
Investing Cash Flow	18.52M	-3.89M	-2.71M	-121.35M	-141.77M	-10.55M
Financing Cash Flow	-4.42M	11.24M	13.77M	62.14M	174.06M	3.30M

Greenidge Generation Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.53
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GREE, the sentiment is Neutral. The current price of 1.53 is below the 20-day moving average (MA) of 1.65, below the 50-day MA of 1.70, and above the 200-day MA of 1.42, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.22 is Neutral, neither overbought nor oversold. The STOCH value of 20.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GREE.

Greenidge Generation Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RIOT	68 Neutral	$5.39B	42.76	5.24%	―	103.62%	49.48%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CIFR	56 Neutral	$6.40B	-85.77	-9.69%	―	35.41%	-38.08%
GREE	46 Neutral	$26.70M	-7.45	―	―	-3.52%	83.39%
ABTC	39 Underperform	$1.65B	-2.60	-2.75%	―	―	―
MIGI	39 Underperform	$5.20M	-0.38	―	―	-11.39%	79.96%
ARBK	37 Underperform	$7.77M	-0.02	―	―	-13.86%	-32.19%

Greenidge Generation Holdings Corporate Events

Greenidge Generation Restores Dresden Plant After Fire Incident

On November 23, 2025, Greenidge Generation Holdings’ Dresden, NY power generation facility experienced an electrical switchgear failure and fire that triggered automated safety protocols, fully de-energizing the plant; the incident caused only limited damage to electrical switchgear and no damage to the company’s owned or hosted Bitcoin miners, thanks to a rapid response by employees, firefighters and utility partners. The facility resumed normal operations on December 9, 2025, returning to service ahead of schedule and has consistently delivered power back to the local grid, indicating minimal long-term operational disruption for the company and its stakeholders.

Greenidge Generation Sells Spartanburg Property for $18M

On December 11, 2025, Greenidge Generation Holdings Inc. completed the sale of its 152-acre property in Spartanburg, South Carolina, to an affiliate of The Lightstone Group and LightHouse Data Centers for $18 million in cash, with the potential for up to an additional $18 million in earnout payments. This transaction is part of Greenidge’s strategy to optimize its assets and strengthen its balance sheet, as it has reduced its 2026 senior indebtedness and improved its net debt position, while also focusing on sustainable cash flow from its Dresden facility.

Greenidge Generation Sells Spartanburg Land for $18 Million

On November 26, 2025, Greenidge Generation Holdings Inc., through its subsidiary 300 Jones Road LLC, entered into an agreement to sell approximately 152 acres of land in Spartanburg, South Carolina, to 300 Jones Road Associates LLC for $18 million, with potential additional payments up to $18 million based on future electrical capacity availability. This transaction, expected to close by December 11, 2025, involves the transfer of rights to 60 megawatts of electrical service and includes various customary closing conditions and security measures, potentially impacting the company’s operational focus and financial outcomes.

Greenidge Generation Faces Shutdown After Switchgear Fire

On November 23, 2025, Greenidge Generation’s Dresden, NY facility experienced an electrical switchgear failure and fire, leading to a complete shutdown. The company is investigating the incident and working on repairs, with no significant damage to its bitcoin miners, and aims to resume operations in the coming weeks.

Greenidge Generation Approves Executive Salary Increases

On November 14, 2025, Greenidge Generation Holdings Inc. announced that its Compensation Committee approved salary increases for key executives. The CEO, President, and CFO received raises, reflecting the company’s commitment to retaining top leadership.

Greenidge Generation Reaches Settlement on Air Permit

On November 7, 2025, Greenidge Generation LLC, a subsidiary of Greenidge Generation Holdings Inc., reached a settlement with the New York State Department of Environmental Conservation regarding the renewal of its Title V Air Permit for its Dresden facility. The agreement includes significant greenhouse gas emissions reductions, exceeding New York’s Climate Act goals, and ends ongoing litigation. The facility will continue to supply power to the local grid and operate its cryptocurrency datacenter, with emissions limits set to decrease over a five-year period. This settlement is seen as a major step in aligning the company’s operations with state environmental objectives and securing its role in the local energy market.

Greenidge Generation Finalizes Tender Offer Results

On November 6, 2025, Greenidge Generation Holdings Inc. announced the final results of its tender and exchange offer for its outstanding 8.50% Senior Notes due 2026, which commenced on October 6, 2025, and expired on November 5, 2025. The company revealed that a portion of the notes was exchanged for new 10.00% Senior Notes due 2030, yet the aggregate principal amount of the new notes is below the minimum required for Nasdaq listing. Consequently, Greenidge seeks to list the new notes on the OTC Market, though it cannot guarantee a liquid trading market will develop. This move reflects Greenidge’s strategic financial management but also highlights potential liquidity risks for stakeholders.

Greenidge Announces Early Results of Tender Offers

On October 22, 2025, Greenidge Generation Holdings announced the early results of its tender and exchange offers for its outstanding 8.5% Senior Notes due 2026, which began on October 6, 2025. The announcement revealed that a significant portion of the notes had been tendered, indicating stakeholder engagement and potential impacts on the company’s financial strategy and market positioning.

Greenidge Generation Launches Tender Offer for Senior Notes

On October 6, 2025, Greenidge Generation Holdings Inc. announced the commencement of a tender and exchange offer for its outstanding 8.50% Senior Notes due 2026. The company offers two options: exchanging the old notes for new 10.00% Senior Notes due 2030 or purchasing the old notes for cash. This move is aimed at managing the company’s debt structure and could impact stakeholders by potentially improving the company’s financial flexibility. The offer includes premiums compared to the current trading price of the old notes, with specific terms and conditions outlined for participants.

Greenidge Generation Finalizes Tender Offer Results

On September 29, 2025, Greenidge Generation Holdings announced the expiration and final results of its tender and exchange offer for its outstanding 8.50% Senior Notes due 2026. The offer, which commenced on August 27, 2025, allowed holders to exchange their notes for new 10.00% Senior Notes due 2030 or receive cash. The company reported that a total of $5,943,975 in notes were accepted, leaving $38,409,825 outstanding. Greenidge aims to list the new notes on the OTC Market under the ticker ‘GREEN,’ but cannot guarantee an active trading market will develop, potentially impacting liquidity and trading prices.