Greenidge Generation Holdings Inc. (GREE) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. So our next presenter is Jordan with Greenage Generation. Let's give him a round of applause. Thank you very much. I'm shocked by the massive turnout here and appreciate you all for having me. So I'm Jordan Kavler, CEO of Greenage Generation Holdings Inc., We currently build, maintain, and operate data centers, primarily focused on Bitcoin mining, along with related power and electric infrastructure. Basically, our team started with a knowledge of electricity markets and power plants that helped make us a market leader in the construction and operation of data centers. Currently, our main revenue sources are hosting and self-mining for Bitcoin. And then we also sell power back to the grid out of our power plants in Dresden, New York. We're working on developing additional revenue streams right now, including engineering, procurement, and construction management services to help others build data centers, as well as pod sales. When you mine Bitcoin, you either mine them out of these pods constructed or out of buildings. For us, our team has worked diligently over the past five years or so making more efficient pods that then we found we could find a way to sell those to competitors, which we just started to do. And separately, we started to get into the AI data center space. You hear a lot of Bitcoin miners going down that road. For us, we feel our primary benefit is that we have knowledge in the electricity market and power, and we have good access to real estate. So we're trying to leverage that to also pull into the data center space. while building a team of individuals that are more knowledgeable in that area and the actual build out of such systems. Currently, as of about April 2024, we have 1.8 hectohash of hosting, 1.2 hectohash of self-mining, and ...