Greenidge Generation Q1 revenue rises on power sales, loss narrows

Greenidge Generation Holdings Inc. Class A

Greenidge Generation Holdings Inc. Class A

GREE

0.00


Overview

  • US power generation and datacenter firm's Q1 revenue rose yr/yr, driven by power and capacity sales

  • Net loss and adjusted EBITDA loss narrowed from Q1 2025

  • Company advanced AI/HPC datacenter plans and continued asset monetization, including a Mississippi sale


Outlook

  • Company expects to energize 40MW at Mississippi site in Q1 2027

  • Greenidge advancing 60MW Dresden AI/HPC datacenter development pending interconnection agreement

  • Company pursuing strategic partnerships and asset monetization at Mississippi site


Result Drivers

  • POWER AND CAPACITY SALES - Co said power and capacity revenue more than doubled yr/yr, driving overall revenue growth

  • AI/HPC DATACENTER DEVELOPMENT - Co said receipt of proposed NYSEG Interconnection Agreement and Mississippi load study advanced AI/HPC datacenter plans

  • ASSET MONETIZATION - Co said continued debt reduction and sale of non-core Mississippi asset strengthened balance sheet


Company press release: ID:nACSshq4ca


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Net Income

-$4.60 mln

Q1 Adjusted EBITDA

-$1 mln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • Wall Street's median 12-month price target for Greenidge Generation Holdings Inc is $4.00, about 172.1% above its May 15 closing price of $1.47


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