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Greenidge Generation Holdings (GREE)
NASDAQ:GREE
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Greenidge Generation Holdings
(NASDAQ:GREE)
Rating:47Neutral
Price Target:
$1.50
▼(-0.66%Downside)
Greenidge Generation Holdings (GREE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.31M
Dividend YieldN/A
Average Volume (3M)430.88K
Price to Earnings (P/E)―
Beta (1Y)2.17
Revenue Growth-20.28%
EPS Growth48.08%
CountryUS
Employees35
SectorFinancial
Sector Strength83
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-0.40
Shares Outstanding12,705,321
10 Day Avg. Volume224,689
30 Day Avg. Volume430,876
Financial Highlights & Ratios
PEG Ratio-0.96
Price to Book (P/B)-0.36
Price to Sales (P/S)0.00
P/FCF Ratio-1.03
Enterprise Value/Market Cap0.79
Enterprise Value/Revenue0.07
Enterprise Value/Gross Profit0.75
Enterprise Value/Ebitda1.51
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Greenidge Generation Holdings Business Overview & Revenue Model
Company DescriptionGreenidge Generation Holdings (GREE) is a vertically integrated cryptocurrency datacenter and power generation company. The company operates a unique business model that combines power generation with cryptocurrency mining operations. Greenidge owns and operates its own power plant which provides the necessary electricity to support its energy-intensive cryptocurrency mining activities. The company is involved in the technology sector with a focus on blockchain and digital currency mining.
How the Company Makes MoneyGreenidge Generation Holdings generates revenue primarily through its cryptocurrency mining operations. The company uses its own power generation facilities to supply electricity to its mining operations at a lower cost, which enhances profitability. By mining cryptocurrencies, Greenidge earns digital assets, which it can then sell on the market to generate revenue. Additionally, Greenidge may engage in selling excess power generated by its power plant to the grid, providing an additional revenue stream. The company's integrated model allows it to optimize energy costs while benefiting from the growth in cryptocurrency markets.
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.32
Negative
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.25
Negative
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.28
Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 59.44M | 59.53M | 70.39M | 89.98M | 107.28M | 20.11M | Gross Profit |
| 24.46M | 47.45M | 19.38M | 30.14M | 73.46M | 7.51M | EBIT |
| -12.02M | -11.45M | -16.89M | -58.64M | 33.92M | -2.75M | EBITDA |
| -2.69M | 699.00K | -2.78M | -181.33M | 45.37M | 1.94M | Net Income Common Stockholders |
| -21.41M | -19.79M | -29.51M | -269.74M | -44.48M | -3.84M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 11.75M | 8.62M | 13.31M | 15.22M | 83.09M | 11.82M | Total Assets |
| 0.00 | 64.86M | 71.18M | 163.77M | 341.27M | 65.38M | Total Debt |
| 0.00 | 68.07M | 68.71M | 152.35M | 95.76M | 8.21M | Net Debt |
| 11.75M | 59.45M | 55.40M | 137.13M | 13.16M | 3.16M | Total Liabilities |
| 0.00 | 120.61M | 122.20M | 210.81M | 128.84M | 21.02M | Stockholders Equity |
| 33.72M | -55.75M | -51.02M | -47.05M | 212.42M | 44.36M |
| Cash Flow | Free Cash Flow | ||||
| -22.61M | -22.47M | -25.17M | -147.44M | -118.31M | -4.04M | Operating Cash Flow |
| -12.62M | -12.04M | -12.15M | -14.48M | 45.26M | 557.00K | Investing Cash Flow |
| -1.14M | -3.89M | -2.71M | -121.35M | -136.46M | -10.55M | Financing Cash Flow |
| 4.20M | 11.24M | 13.77M | 62.14M | 174.06M | 3.30M |
Greenidge Generation Holdings Technical Analysis
Positive
1.51
Price Trends
1.03
Positive
1.09
Positive
1.59
Negative
Market Momentum
0.13
Positive
58.09
Neutral
41.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GREE, the sentiment is Positive. The current price of 1.51 is above the 20-day moving average (MA) of 1.35, above the 50-day MA of 1.03, and below the 200-day MA of 1.59, indicating a neutral trend. The MACD of 0.13 indicates Positive momentum. The RSI at 58.09 is Neutral, neither overbought nor oversold. The STOCH value of 41.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GREE.
Greenidge Generation Holdings Risk Analysis
Greenidge Generation Holdings disclosed 11 risk factors in its most recent earnings report. Greenidge Generation Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Our issuance of a significant number of additional shares of Class A common stock in connection with any future financings, acquisitions, investments, commercial arrangements, under our stock incentive plans, or otherwise will dilute all other shareholders and our stock price could decline as a result. Q3, 2024
2.
A significant portion of our total outstanding shares of Class A common stock are or will be registered for resale or will become eligible for resale under Rule 144, and may be sold into the market in the future. This could cause the market price of our Class A common stock to drop significantly, even if our business is doing well. Q3, 2024
3.
In evaluating our company and our business, you should carefully consider the risks and uncertainties described in Part I, Item 1A, “Risk Factors” in our most recent Annual Report on Form 10-K together with updates to those risk factors or new risk factors contained in this Quarterly Report on Form 10-Q below and any other information in this Quarterly Report on Form 10-Q, including our condensed consolidated financial statements and the related notes and in the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. The occurrence of one or more of the events or circumstances described in these risk factors, alone or in combination with other events or circumstances, may have a material adverse effect on our business, reputation, revenue, financial condition, results of operations and future prospects, in which case the market price of our common stock could decline. Unless otherwise indicated, reference in this section and elsewhere in this Quarterly Report on Form 10-Q to our business being adversely affected, negatively impacted or harmed will include an adverse effect on, or a negative impact or harm to, our business, reputation, financial condition, results of operations, revenue and our future prospects. The material and other risks and uncertainties included in our Annual Report on Form 10-K, summarized above in this Quarterly Report on Form 10-Q and described below are not intended to be exhaustive and are not the only ones we face. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also impair our business operations. This Quarterly Report on Form 10-Q also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including the risks described below. Certain statements in the Risk Factors below are forward-looking statements. See the section titled “Cautionary Statement Regarding Forward-Looking Statements”. Q3, 2024
Greenidge Generation Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $12.85B | 9.81 | 7.59% | 16985.65% | 12.30% | -7.71% | |
55 Neutral | $80.54M | ― | 173.25% | ― | ― | ― | |
51 Neutral | $1.31B | ― | -18.49% | ― | -0.65% | -808.88% | |
51 Neutral | $1.67B | ― | -56.12% | ― | 31.85% | -34.27% | |
48 Neutral | $11.21M | ― | -461.16% | ― | -0.67% | 65.35% | |
47 Neutral | $23.31M | ― | 22.29% | ― | -20.28% | 48.08% | |
37 Underperform | $27.90M | ― | 242.25% | ― | ― | ― |
* Financial Sector Average
Performance Comparison
GREE
Greenidge Generation Holdings
1.51
-1.20
-44.28%
WULF
TeraWulf Inc
4.35
1.26
40.78%
GRYP
Gryphon Digital Mining
1.11
-0.28
-20.14%
MIGI
Mawson Infrastructure Group
0.57
-0.77
-57.46%
CIFR
Cipher Mining
3.90
-0.28
-6.70%
ARBK
Argo Blockchain
0.42
-0.94
-69.12%
Greenidge Generation Holdings Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Greenidge Generation Holdings Enters New Exchange Agreement
Neutral
May 7, 2025
On May 1, 2025, Greenidge Generation Holdings Inc. entered into an exchange agreement with a noteholder to exchange $5,546,050 of its 8.50% Senior Notes for $1,925,000 in cash. This transaction is part of a broader strategy where the company has exchanged approximately 16.6% of its original $72,200,000 in notes for cash or stock since October 2024. The company continues to explore options to manage its remaining obligations, indicating a flexible approach to its financial strategy.
Executive/Board ChangesBusiness Operations and Strategy
Greenidge Generation Announces Board Refreshment Plan
Neutral
Apr 16, 2025
On April 14, 2025, Greenidge Generation Holdings Inc. announced a planned refreshment of its Board of Directors, with the resignations of David Anderson and Daniel Rothaupt. Kenneth Hearn and Christopher Krug were appointed to fill these vacancies, effective April 17, 2025, bringing extensive experience in investments, finance, and public markets to the board. Timothy Fazio was elected as Chairman of the Board. This strategic move aims to enhance the company’s board with diverse expertise, supporting its ongoing evolution and efforts to maximize shareholder value.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.