Greenidge Generation Reports Preliminary Financial and Operating Results for the Fourth Quarter and Full Year 2025

About this update from Greenidge Generation Holdings Inc.

Improvement on All Operational Metrics from Q3 2024 Reduced SG&A Expenses by $8.9 million in 2024 Seeking to Acquire Over 200MW of Energy Assets and Significantly Reduce Debt in 2025 to Implement Growth Strategies PITTSFORD, N.Y.--(BUSINESS WIRE)-- Greenidge Generation Holdings Inc. (Nasdaq: GREE) (“Greenidge” or the “Company”), a vertically integrated cryptocurrency datacenter and power generation company, announced financial and operating results for the fourth quarter and fiscal year ended December 31, 2024 and provided an update on the Company’s growth prospects. Fourth Quarter 2024 Preliminary Financial Results: Total revenue of $14.8 million, an improvement of $2.4 million from Q3 2024; Net loss from continuing operations of $3.3 to $4.3 million, an improvement of $2.0 to $3.0 million from Q3 2024; Adjusted EBITDA of $2.6 to $3.6 million, an improvement of $2.7 to $3.7 million from Q3 2024; Cryptocurrency datacenter self-mining revenue of $4.0 million, an improvement of $0.7 million from Q3 2024; Cryptocurrency datacenter hosting revenue of $7.3 million, an improvement of $0.8 million from Q3 2024; and Power and capacity revenue of $3.5 million, an improvement of $0.9 million from Q3 2024. Full Year 2024 Preliminary Financial Results & Highlights: Total revenue of $59.5 million; SG&A expenses of $17.2 million, a reduction of $8.9 million from FY 2023; Diversified revenue stream through hosting arrangements; Net loss from continuing operations of $19.2 to $20.2 million, including $15.7 million in depreciation and stock-based compensation, an improvement of $8.8 to $9.8 million from FY 2023; Adjusted EBITDA of $5.0 to $6.0 million, an improvement of $4.8 to $5.8 million from FY 2023; Completed successful buildouts of 15MW of mining in Mississippi and North Dakota, further diversifying Greenidge’s geographic profile; Secured Dresden facility’s ability to continue operating while vigorously advocating for renewal of its Title V Air Permit; Announced it entered into a definitive agreement to sell its South Carolina property for $12.1 million and 8% profit participation interest; and Upgraded fleet efficiency through purchase of over 1,000 S21 Pro and S19XP miners, which replaced less efficient S19 miners. Recent First Quarter 2025 Highlights: Holds over 85 Bitcoin currently; Reduced debt by over $5.2 million of aggregate principal amount through privatel...

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