Greenidge Generation Holdings, Inc. GREE

Greenidge Generation Holdings, Inc. (NASDAQ: GREE) is a leading cryptocurrency datacenter and power generation company, strategically positioned at the intersection of digital asset mining and energy infrastructure. With a diversified portfolio of sites across New York, South Carolina, Mississippi, and North Dakota, Greenidge operates a total power capacity of 122 MW, supporting a mining fleet with a self-mining hashrate of 1.2 EH/s and an additional 1.8 EH/s through hosting services as of May 2024. Greenidge’s unique capabilities stem from its deep expertise in operating 24/7 industrial assets, advanced miner optimization, and thermal/noise management. The company is focused on expanding its footprint with new datacenter developments, particularly in AI and HPC (High-Performance Computing), through partnerships like the one with Infinite Reality. This initiative is part of Greenidge’s broader strategy to diversify its revenue streams beyond Bitcoin mining, incorporating AI datacenters and energy sales. Greenidge has significantly de-risked its balance sheet, reducing total debt by 54% since December 2022, and is committed to SG&A cost optimization, resulting in a million annual improvement. The company’s strategic growth plan includes further site acquisitions, power capacity expansion, and the development of GREE Pods for efficient miner deployment.

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