Greenidge Generation Holdings (GREE) AI Stock Analysis

• Market Cap: $25.94M
• Dividend Yield: N/A
• Average Volume (3M): 248.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.19
• Revenue Growth: -20.28%
• EPS Growth: 48.08%
• Country: US
• Employees: 35
• Sector: Financial
• Sector Strength: 78
• Industry: Financial - Capital Markets
• EPS (TTM): -0.40
• Shares Outstanding: 12,705,321
• 10 Day Avg. Volume: 321,861
• 30 Day Avg. Volume: 248,294
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.26
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.08
• Enterprise Value/Market Cap: 5.76
• Enterprise Value/Revenue: 0.58
• Enterprise Value/Gross Profit: 6.11
• Enterprise Value/Ebitda: 12.24
• 1Y Price Target: $1.50
• Price Target Upside: -10.71% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 48 Neutral
• Price Target: $1.50 ▼(-10.71%Downside)

Greenidge Generation Holdings demonstrates significant financial difficulties with negative earnings and equity, reflected in a low financial performance score, which heavily impacts the overall score. Despite this, technical indicators suggest positive short-term momentum, slightly offsetting the negative financial outlook. The negative valuation metrics further weigh on the overall score, indicating high risk for potential investors.

Greenidge Generation Holdings Business Overview & Revenue Model

Company Description

Greenidge Generation Holdings (GREE) is a vertically integrated cryptocurrency mining and power generation company. It operates within the technology and energy sectors, leveraging its own power generation assets to fuel its cryptocurrency mining operations. The company's core services include the production of Bitcoin and the supply of wholesale electricity to the grid, utilizing a natural gas-fired power plant located in New York.

How the Company Makes Money

Greenidge Generation Holdings makes money through two primary revenue streams: cryptocurrency mining and electricity sales. The company operates a large-scale Bitcoin mining operation, using its own power plant to provide a low-cost energy source for mining equipment, thus generating revenue from the production and sale of Bitcoin. Additionally, Greenidge sells excess electricity generated by its power plant to the wholesale energy market, contributing further to its revenue. The integration of power generation and cryptocurrency mining allows Greenidge to optimize operational efficiencies and capitalize on the fluctuating prices of both electricity and Bitcoin.

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	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
EBITDA	-2.69M	699.00K	-2.78M	-181.33M	45.37M	1.94M
Net Income	-21.41M	-19.79M	-29.51M	-269.74M	-44.48M	-3.84M
Balance Sheet
Total Assets	56.71M	64.86M	71.18M	163.77M	341.27M	65.38M
Cash, Cash Equivalents and Short-Term Investments	4.88M	8.62M	13.31M	15.22M	83.09M	11.82M
Total Debt	0.00	68.07M	68.71M	152.35M	95.76M	8.21M
Total Liabilities	114.96M	120.61M	122.20M	210.81M	128.84M	21.02M
Stockholders Equity	-58.24M	-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

• Technical Analysis Sentiment: Positive
• Last Price: 1.68
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 1.68 is above the 20-day moving average (MA) of 1.39, above the 50-day MA of 1.31, and above the 200-day MA of 1.53, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 64.28 is Neutral, neither overbought nor oversold. The STOCH value of 87.20 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GREE.

Greenidge Generation Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	64 Neutral	$6.52B	11.22	7.19%	5.01%	23.75%	4.98%
CIFR	59 Neutral	$2.02B	―	-18.49%	―	-0.65%	-808.88%
WULF	54 Neutral	$1.85B	―	-56.12%	―	31.85%	-34.27%
GRYP	52 Neutral	$100.13M	―	173.25%	―	―	―
MIGI	50 Neutral	$9.94M	―	-461.16%	―	-0.67%	65.35%
GREE	48 Neutral	$25.94M	―	22.29%	―	-20.28%	48.08%
ARBK	37 Underperform	$19.03M	―	242.25%	―	―	―

Greenidge Generation Holdings Corporate Events

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.

The most recent analyst rating on (GREE) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.

Greenidge Generation Holdings Enters New Exchange Agreement

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.

Greenidge Generation Announces Board Refreshment Plan

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.