Greenidge Generation Holdings (GREE) AI Stock Analysis

• Market Cap: $23.62M
• Dividend Yield: N/A
• Average Volume (3M): 266.98K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.94
• Revenue Growth: -20.28%
• EPS Growth: 48.08%
• Country: US
• Employees: 35
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): -0.40
• Shares Outstanding: 12,705,321
• 10 Day Avg. Volume: 239,771
• 30 Day Avg. Volume: 266,975
• PEG Ratio: -0.98
• Price to Book (P/B): -0.37
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.05
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 0.30
• Enterprise Value/Gross Profit: 22.29
• Enterprise Value/Ebitda: -6.03
• 1Y Price Target: $1.50
• Price Target Upside: -4.46% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 45 Neutral
• Price Target: $1.50 ▼(-4.46%Downside)

The overall stock score for Greenidge Generation Holdings is driven primarily by poor financial performance marked by declining revenues and negative equity. Technical analysis offers a mixed view with no clear directional bias, and valuation metrics are unattractive due to a negative P/E ratio. The absence of earnings call data or notable corporate events leaves the stock's outlook largely dependent on financial and technical indicators.

Greenidge Generation Holdings Business Overview & Revenue Model

Company Description

Greenidge Generation Holdings Inc. operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenters in New York and South Carolina. It also owns and operates a 106 MW power generation facility. The company was founded in 1937 and is based in Fairfield, Connecticut.

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. The elimination of debt is a positive, but the company struggles with profitability and cash generation, necessitating 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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	59.53M	70.39M	89.98M	107.28M	20.11M
Gross Profit	47.45M	19.38M	30.14M	73.46M	7.51M
EBITDA	699.00K	-2.78M	-181.33M	45.37M	1.94M
Net Income	-19.79M	-29.51M	-269.74M	-44.48M	-3.84M
Balance Sheet
Total Assets	64.86M	71.18M	163.77M	341.27M	65.38M
Cash, Cash Equivalents and Short-Term Investments	8.62M	13.31M	15.22M	83.09M	11.82M
Total Debt	68.07M	68.71M	152.35M	95.76M	8.21M
Total Liabilities	120.61M	122.20M	210.81M	128.84M	21.02M
Stockholders Equity	-55.75M	-51.02M	-47.05M	212.42M	44.36M
Cash Flow
Free Cash Flow	-22.47M	-25.17M	-147.44M	-118.31M	-4.04M
Operating Cash Flow	-12.04M	-12.15M	-14.48M	45.26M	557.00K
Investing Cash Flow	-3.89M	-2.71M	-121.35M	-136.46M	-10.55M
Financing Cash Flow	11.24M	13.77M	62.14M	174.06M	3.30M

Greenidge Generation Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 Neutral. The current price of 1.57 is below the 20-day moving average (MA) of 1.75, above the 50-day MA of 1.55, and above the 200-day MA of 1.53, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 46.35 is Neutral, neither overbought nor oversold. The STOCH value of 14.44 is Positive, 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
Sector *	67 Neutral	$17.78B	11.60	9.11%	3.88%	10.92%	-3.96%
WULF	54 Neutral	$2.01B	―	-56.12%	―	31.85%	-34.27%
CIFR	53 Neutral	$1.90B	―	-18.49%	―	-0.65%	-808.88%
GRYP	46 Neutral	$78.36M	―	173.25%	―	―	―
GREE	45 Neutral	$23.62M	―	22.29%	―	-20.28%	48.08%
MIGI	39 Underperform	$9.05M	―	-461.16%	―	-0.67%	65.35%
ARBK	37 Underperform	$21.77M	―	242.25%	―	―	―

Greenidge Generation Holdings Corporate Events

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.

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.