Greenidge Generation Holdings (GREE) AI Stock Analysis

• Market Cap: $20.38M
• Dividend Yield: N/A
• Average Volume (3M): 350.21K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.39
• 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: 0.80
• Enterprise Value/Revenue: 0.26
• Enterprise Value/Gross Profit: 0.82
• Enterprise Value/Ebitda: 0.97
• 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: 45 Neutral
• Price Target: $1.50 ▼(-1.96% Downside)

The score is held down primarily by weak financial health—negative equity and negative operating/free cash flow—despite improving loss trends. Technicals are neutral with limited momentum, and valuation support is weak due to losses. Corporate events are mixed, with balance-sheet and regulatory positives offset by operational disruption and financing/liquidity concerns.

Positive Factors

Vertical integration (power + mining)

Owning generation and mining operations lets Greenidge capture value across electricity sales and Bitcoin production. That structural vertical integration can sustain margins by internalizing power costs, providing operational flexibility and diversified revenue streams over the medium term.

Air-permit settlement provides regulatory clarity

The Title V air-permit settlement locks in emissions limits and ends litigation, reducing regulatory overhang. This long-term compliance framework improves licensing certainty, enables operational planning and capital allocation for Dresden, and strengthens the plant’s ability to serve the local grid reliably.

Asset sale improves liquidity and debt profile

Monetizing the Spartanburg asset provided immediate cash to reduce senior debt and improve net debt metrics. This structural deleveraging enhances near-term solvency and extends financial runway, lowering refinancing pressure and supporting medium-term operational stability if proceeds are allocated to debt reduction.

Negative Factors

Persistently negative equity

Negative shareholder equity reflects cumulative losses and weak capital buffers, constraining borrowing capacity and financial flexibility. Over months, this raises solvency concerns, limits access to favorable financing, and increases vulnerability to shocks or adverse market conditions.

Negative operating and free cash flow

Sustained negative operating and free cash flow means the business cannot self-fund operations or capex, forcing dependence on asset sales or external capital. This structural cash shortfall raises refinancing risk and can constrain reinvestment in efficiency or growth initiatives over the coming quarters.

Debt exchange and listing/liquidity risk

Exchanging near-term notes into longer-dated paper that cannot meet Nasdaq listing thresholds shifts debt to a potentially illiquid OTC market. Reduced liquidity and higher coupon obligations increase refinancing costs and counterparty risk, limiting flexibility if cash flows worsen over the medium term.

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

Operating results are improving with losses narrowing and revenue up modestly, but fundamentals remain weak: negative equity signals elevated solvency risk and both operating cash flow and free cash flow are negative, indicating the business is not yet self-funding.

Income Statement

TTM (Trailing-Twelve-Months) revenue improved (+4.8%) and losses have narrowed materially versus 2022–2024, with net margin improving to about -2.6% from deeply negative levels in prior years. Gross profit remains positive, but operating profitability is still weak (EBIT remains negative in TTM and most annual periods), indicating the core business has not consistently converted revenue into sustainable earnings. Overall, the trajectory is improving, but profitability is not yet durable.

Balance Sheet

The balance sheet is stressed by persistently negative equity (TTM and 2022–2024), which is a key red flag for financial flexibility and resilience. While total debt has fallen sharply in TTM versus the past few years, the negative equity position still implies elevated solvency risk and limits access to favorable financing. Total assets are also significantly lower than earlier periods, suggesting a smaller balance sheet and reduced cushion against shocks.

Cash Flow

Cash generation is a major weakness: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both negative, and free cash flow deterioration is evident (TTM decline versus the prior period). The company is not self-funding operations and investment needs from internally generated cash, increasing dependence on external capital. Prior years show inconsistent cash performance, reinforcing volatility and execution risk.

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: Negative
• Last Price: 1.53
• 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 1.53 is above the 20-day moving average (MA) of 1.51, below the 50-day MA of 1.55, and above the 200-day MA of 1.52, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 32.34 is Neutral, neither overbought nor oversold. The STOCH value of 13.45 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
RIOT	70 Outperform	$5.75B	45.93	5.24%	―	103.62%	49.48%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CIFR	56 Neutral	$6.31B	-83.78	-9.69%	―	35.41%	-38.08%
GREE	45 Neutral	$20.38M	-5.90	―	―	-3.52%	83.39%
ABTC	42 Neutral	$1.40B	-2.02	-2.75%	―	―	―
MIGI	41 Neutral	$4.71M	-0.32	―	―	-11.39%	79.96%
ARBK	39 Underperform	$7.90M	-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.

The most recent analyst rating on (GREE) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.

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.

The most recent analyst rating on (GREE) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.

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.

The most recent analyst rating on (GREE) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.

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.

The most recent analyst rating on (GREE) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.

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.

The most recent analyst rating on (GREE) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.

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.

The most recent analyst rating on (GREE) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.

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.

The most recent analyst rating on (GREE) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Greenidge Generation Holdings stock, see the GREE Stock Forecast page.