Greenidge Generation Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
VIP$0.97-4.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
(in thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| REVENUE: | ||||
| Datacenter hosting | $6,490 | $12,136 | $22,247 | $28,740 |
| Cryptocurrency mining | 3,267 | 6,602 | 15,041 | 17,033 |
| Power and capacity | 2,594 | 2,141 | 7,118 | 4,973 |
| EPCM consulting services | — | — | 335 | — |
| Total revenue | 12,351 | 20,879 | 44,741 | 50,746 |
| OPERATING COSTS AND EXPENSES: | ||||
| Cost of revenue - datacenter hosting (exclusive of depreciation) | 4,941 | 9,432 | 16,644 | 20,830 |
| Cost of revenue - cryptocurrency mining (exclusive of depreciation) | 2,599 | 4,458 | 9,504 | 10,639 |
| Cost of revenue - power and capacity (exclusive of depreciation) | 1,764 | 1,465 | 4,607 | 4,762 |
| Cost of revenue - EPCM consulting services (exclusive of depreciation) | — | — | 183 | — |
| Selling, general and administrative | 3,730 | 6,662 | 13,394 | 22,724 |
| Depreciation | 3,390 | 3,383 | 9,909 | 10,368 |
| Impairment of long-lived assets | — | 4,000 | 169 | 4,000 |
| Gain on digital assets | (156) | — | (204) | — |
| Loss (gain) on sale of assets | 693 | — | 661 | (1,752) |
| Remeasurement of environmental liability | — | 1,600 | — | 1,600 |
| Total operating costs and expenses | 16,961 | 31,000 | 54,867 | 73,171 |
| Operating loss | (4,610) | (10,121) | (10,126) | (22,425) |
| OTHER INCOME (EXPENSE), NET: | ||||
| Interest expense, net | (1,832) | (3,040) | (5,439) | (9,725) |
| Change in fair value of warrant asset | — | — | (420) | — |
| Gain on sale of digital assets | — | — | — | 398 |
| Other expense, net | — | — | — | (4) |
| Total other expense, net | (1,832) | (3,040) | (5,859) | (9,331) |
| Loss from continuing operations before income taxes | (6,442) | (13,161) | (15,985) | (31,756) |
| Benefit from income taxes | (118) | — | (118) | — |
| Net loss from continuing operations | (6,324) | (13,161) | (15,867) | (31,756) |
| Loss from discontinued operations, net of tax | (43) | (1,078) | (12) | (696) |
| Net loss | $(6,367) | $(14,239) | $(15,879) | $(32,452) |
| Comprehensive Loss | ||||
| Net Loss | (6,367) | (14,239) | (15,879) | (32,452) |
| Foreign currency translation adjustment | — | (12) | (3) | 15 |
| Comprehensive loss | $(6,367) | $(14,251) | $(15,882) | $(32,437) |
| Net (loss) income per share, basic and diluted: | ||||
| Net loss per share from continuing operations, basic and diluted | $(0.60) | $(1.81) | $(1.58) | $(5.01) |
|---|---|---|---|---|
| Loss per share from discontinued operations, basic and diluted | — | (0.15) | — | (0.11) |
| Net loss per share, basic and diluted | $(0.60) | $(1.96) | $(1.58) | $(5.12) |
| Weighted average shares outstanding, basic and diluted | 10,652 | 7,262 | 10,040 | 6,341 |
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