Greenidge Generation Reports Fourth Quarter and Full Year 2022
FAIRFIELD, Conn., March 31, 2023 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge" or the "Company"), a vertically integrated cryptocurrency datacenter and power generation company, today announced financial and operating results for the fourth quarter and fiscal year ended December 31, 2022 and provided an update on actions the Company has taken to date to improve liquidity during the first quarter of 2023.
- "Our results for the fourth quarter of 2022 are consistent with the estimates we released in January," said Dave Anderson, Chief Executive Officer of Greenidge.
- Greenidge produced 683 bitcoins during the fourth quarter, compared to 609 bitcoins in the fourth quarter of the prior year.
- Net loss from continuing operations was $135.0 million for the fourth quarter as compared to a net income from continuing operations of $3.3 million in the fourth quarter of the prior year.
- Adjusted EBITDA loss for the fourth quarter was $4.9 million compared to the prior year fourth quarter Adjusted EBITDA of $18.2 million.