Greenidge Generation Holdings Inc
greenidge.comWhat Do They Do?
Builds and operates data centers and power infrastructure for bitcoin mining and artificial intelligence and high-performance computing workloads, and sells electricity and capacity to New York's wholesale power market.
10-K for FY2025, filed Mar 31, 2026
How Do They Make Money?
NYISO pays for delivered electricity, capacity availability and selected grid services; hosting customers are billed monthly for power and services, including usage-based and profit-sharing fees; mining pools credit bitcoin daily for computing work.
10-K for FY2025, filed Mar 31, 2026Power and Capacity Sales. We own and operate a 106 MW power generation facility that is connected to the New York Independent Systems…View ↗
Energy revenue: When dispatched by the NYISO, we receive energy revenue based on the hourly price of power. Capacity revenue: We receive…View ↗
Greenidge recognizes power revenue at a point in time when the electricity is delivered to the NYISO and its performance obligation is met.…View ↗
The Company generates revenue from contracts with customers from providing hosting services to a single third-party customer. Hosting…View ↗
In exchange for performing hash computations for the mining pools, the Company is entitled to a fractional share of the cryptocurrency…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by product or service ↗
$58.8M
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10-K for FY2025, filed Mar 31, 2026
$58.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Cryptocurrency mining
Usage-based
10-K for FY2025, filed Mar 31, 2026 |
26%
FY2022: 82%
|
Cryptocurrency mining, FY2025
$15.2M Sources
|
Usage-based |
|
Datacenter hosting
|
37%
FY2022: 0.0%
|
Datacenter hosting, FY2025
$21.5M Sources
|
|
|
Power and capacity
|
38%
FY2022: 18%
|
Power and capacity, FY2025
$22.1M Sources
|
Who Are Their Customers?
NYDIG affiliates contract directly for bitcoin-mining hosting; mining pools pay for Greenidge's computing work, while Greenidge sells electricity and capacity to NYISO.
10-K for FY2025, filed Mar 31, 2026NYDIG Hosting Agreement. On January 30, 2023, we entered into hosting services agreements and related orders (collectively as in effect…View ↗
Cryptocurrency Mining. Our cryptocurrency datacenter operations generate revenue in the form of bitcoin by earning bitcoin as rewards and…View ↗
Power and Capacity Sales. We own and operate a 106 MW power generation facility that is connected to the New York Independent Systems…View ↗
For the Company’s self-mining operations, Greenidge considers its mining pool operators to be its customers. Greenidge has historically…View ↗
10-K for FY2025, filed Mar 31, 2026
The Company has one major power customer, NYISO, that accounted for 38% and 18% of its revenue for the years ended December 31, 2025 and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 9 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 31, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 14, 2026
−$9.9MView ↗
- ▲ +140% (Loss)
- vs −$4.1M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 14, 2026
Open tableView ↗
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Sep 10, 2026
Closed strategic investment and shifted focus to AI and high-performance computing
The company raised approximately $39.4 million, with proceeds intended mainly to redeem senior notes and support site predevelopment.
Sources
8-K, filed Sep 10, 2026
PITTSFORD, N.Y., September 10, 2026 – Vulcan Infrastructure and Power Inc. (Nasdaq: VIP) (“Vulcan” or the “Company”), a power and…View ↗
Shrinking. Revenue fell 40% in 4 years, from $97.3M in FY2021 to $58.8M in FY2025, about 12% a year.
AI and high-performance computing
The older report described cryptocurrency datacenters and power generation; the latest report adds plans to develop data centers for AI and high-performance computing workloads.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 31, 2026Greenidge is a vertically integrated cryptocurrency datacenter and power generation company that owns and operates facilities at two…View ↗
Support services exited
The older report described home-based customer, sales and technical support and software sales, then put Support.com up for sale; the latest report centers on datacenters, bitcoin mining and power sales.
10-K for FY2022, filed Mar 31, 2023 10-K for FY2025, filed Mar 31, 2026
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