Greenidge Generation Holdings (GREE) AI Stock Analysis

• Market Cap: $19.28M
• Dividend Yield: N/A
• Average Volume (3M): 142.08K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.91
• Revenue Growth: -18.74%
• EPS Growth: 39.95%
• Country: US
• Employees: 35
• Sector: Financial
• Sector Strength: 78
• Industry: Financial - Capital Markets
• EPS (TTM): -0.27
• Shares Outstanding: 12,940,023
• 10 Day Avg. Volume: 104,724
• 30 Day Avg. Volume: 142,078
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 3.75
• Enterprise Value/Revenue: 1.22
• Enterprise Value/Gross Profit: 2.68
• Enterprise Value/Ebitda: -25.20
• 1Y Price Target: $1.50
• Price Target Upside: 26.05% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 44 Neutral
• Price Target: $1.50 ▲(26.05% Upside)

Greenidge Generation Holdings is facing substantial financial difficulties, with declining revenues and negative equity being the most significant concerns. Technical indicators also suggest weak momentum. However, recent corporate actions to manage debt and enhance strategic capabilities provide some positive outlook, though they are not enough to offset the overall challenges.

Greenidge Generation Holdings Business Overview & Revenue Model

Company Description

Greenidge Generation Holdings Inc. is a vertically integrated cryptocurrency and power generation company that operates a natural gas power plant in New York. The company focuses on providing sustainable energy solutions while harnessing the power of blockchain technology. Greenidge's core products and services include electricity generation, cryptocurrency mining, and ancillary services that leverage its energy production capabilities to support the growing demand for digital currencies.

How the Company Makes Money

Greenidge Generation primarily generates revenue through the sale of electricity and its cryptocurrency mining operations. The company monetizes its energy production by supplying power to the grid and also by using its excess energy to mine cryptocurrencies, particularly Bitcoin. This dual revenue model allows Greenidge to capitalize on both energy markets and the volatile cryptocurrency market. Additionally, the company may engage in power purchase agreements (PPAs) with other entities, further diversifying its income streams. Strategic partnerships with blockchain technology firms can also enhance its operational efficiency and profitability, as they provide access to advanced mining technologies and potential joint ventures in energy management.

Greenidge Generation Holdings Financial Statement Overview

Summary

Greenidge Generation Holdings faces significant financial challenges, with declining revenues, consistent losses, and negative equity. Despite a reduction in debt, the company struggles with profitability and cash generation, indicating a need for strategic improvements.

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	59.25M	59.53M	70.39M	89.98M	97.33M	20.11M
Gross Profit	27.00M	47.45M	19.38M	28.43M	68.94M	7.51M
EBITDA	-2.87M	699.00K	-2.78M	-181.33M	45.37M	1.94M
Net Income	-19.95M	-19.79M	-29.51M	-269.74M	-44.48M	-3.29M
Balance Sheet
Total Assets	52.76M	64.86M	71.18M	163.77M	341.27M	64.57M
Cash, Cash Equivalents and Short-Term Investments	3.40M	8.62M	13.31M	15.22M	83.09M	5.05M
Total Debt	63.27M	68.07M	68.71M	152.35M	95.76M	8.21M
Total Liabilities	113.98M	120.61M	122.20M	210.81M	128.84M	20.21M
Stockholders Equity	-61.22M	-55.75M	-51.02M	-47.05M	212.42M	44.36M
Cash Flow
Free Cash Flow	-24.80M	-22.47M	-25.17M	-147.44M	-118.31M	-4.04M
Operating Cash Flow	-16.02M	-12.04M	-12.15M	-14.48M	45.26M	557.00K
Investing Cash Flow	7.41M	-3.89M	-2.71M	-121.35M	-141.77M	-10.55M
Financing Cash Flow	1.61M	11.24M	13.77M	62.14M	174.06M	3.30M

Greenidge Generation Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.19
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GREE, the sentiment is Negative. The current price of 1.19 is below the 20-day moving average (MA) of 1.39, below the 50-day MA of 1.51, and below the 200-day MA of 1.42, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 33.69 is Neutral, neither overbought nor oversold. The STOCH value of 9.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GREE.

Greenidge Generation Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$17.95B	11.54	10.27%	3.74%	9.64%	1.17%
WULF	58 Neutral	$3.70B	―	-46.99%	―	19.82%	-77.95%
GRYP	56 Neutral	$127.52M	―	173.25%	―	―	―
CIFR	54 Neutral	$3.00B	―	-21.39%	―	0.11%	-914.42%
GREE	44 Neutral	$19.28M	―	22.29%	―	-18.74%	39.95%
MIGI	39 Underperform	$8.44M	―	-461.16%	―	-11.36%	64.27%
ARBK	37 Underperform	$17.74M	―	242.25%	―	-13.86%	-32.19%

Greenidge Generation Holdings Corporate Events

Greenidge Generation Launches Tender and Exchange Offer

On August 27, 2025, Greenidge Generation Holdings Inc. announced the commencement of a tender and exchange offer for its outstanding 8.50% Senior Notes due 2026. The offer includes an option to exchange old notes for new 10.00% Senior Notes due 2030 or to purchase the old notes for cash. This move aims to manage the company’s debt and potentially improve its financial position, offering a premium to the current trading price of the notes. The offer is subject to certain conditions and limits, with the expiration date set for September 26, 2025.

Greenidge Generation Cancels Land Sale Agreement

On August 24, 2025, Greenidge Generation Holdings announced the termination of a Purchase and Sale Agreement with Data Journey LLC, which involved selling two parcels of land in Spartanburg, South Carolina for $12.1 million. The agreement’s termination allows Greenidge to retain $400,000 in non-refundable deposits and continue marketing the property to other potential buyers, while the company plans to secure long-term power rights and maximize shareholder value.

Greenidge Generation Appoints Charles Zeynel to Board

On August 11, 2025, Greenidge Generation Holdings announced the appointment of Charles M. Zeynel to its Board of Directors, expanding the board from 10 to 11 members. Zeynel brings over 40 years of experience in petrochemicals, strategic management, and sustainability, having previously led the ZAG Group. This appointment is part of Greenidge’s broader strategy to enhance its operations and market positioning. The company also reported financial results for the second quarter of 2025, highlighting a significant reduction in debt through a public tender offer, improved mining efficiency, and strategic property transactions aimed at optimizing operations. Greenidge continues to explore strategic alternatives to maximize stakeholder value, including further restructuring of debt and expansion of its mining capabilities.

Greenidge Generation Sells Mississippi Property for $3.9M

On August 1, 2025, Greenidge Generation Holdings Inc., through its subsidiary Greenidge Mississippi LLC, entered into an Asset Purchase Agreement to sell a 6.4-acre property and associated business assets in Columbus, Mississippi, to US Digital Mining Mississippi LLC for approximately $3.9 million. The transaction, excluding bitcoin miners and a separate industrial warehouse space, is expected to close by September 16, 2025, subject to due diligence and customary closing conditions.

Greenidge Generation Completes Senior Notes Exchange Offer

On July 21, 2025, Greenidge Generation Holdings Inc. completed an exchange and purchase offer for its outstanding 8.50% Senior Notes due 2026, allowing holders to opt for new 10.00% Senior Notes due 2030 or cash. The offer, which included a proration factor due to exceeding the cash payment limit, impacts the company’s financial strategy by extending debt maturity and potentially improving liquidity, while maintaining its position in the energy sector.

Greenidge Generation Holds Annual Stockholders Meeting

On June 17, 2025, Greenidge Generation Holdings Inc. held its Annual Meeting of Stockholders, where significant decisions were made regarding the company’s governance and strategic plans. Stockholders approved the Third Amended and Restated 2021 Equity Incentive Plan, elected ten directors to serve until the 2026 Annual Meeting, and ratified the selection of MaloneBailey, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These decisions reflect the company’s ongoing efforts to enhance its corporate governance and financial oversight.