Share this article
Bitcoin Miner Greenidge Q4 Revenue Matches Estimate; Reiterates Hashrate Guidance
The company also said permission for operations to continue at its New York facility has been delayed again.
By Aoyon Ashraf
Updated May 11, 2023, 5:59 p.m. Published Mar 31, 2022, 9:47 p.m.
Bitcoin miner Greenidge Generation (GREE) posted fourth-quarter revenue of $44.3 million, up 617% from a year ago, and roughly in line with the FactSet consensus of analysts at $44.5 million.
- Greenidge reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $19.1 million, up from $1.2 million a year ago, and matching analyst estimates.
- The company mined 609 bitcoin in Q4, a 167% rise from 228 in the same quarter in a year earlier. For all 2021, Greenidge mined 1,866 bitcoin versus 1,146 in 2020.
- As of Dec. 31, Greenidge had approximately 17,300 miners with an aggregate hash rate capacity of about 1.4 exahash per second (EH/s), and in the earnings release reiterated hashrate guidance of 4.7 EH/s by the end of 2022.
- The miner this month agreed to a request by the New York State Department of Environmental Conservation for the agency to extend, for a second time, the deadline to complete its review of the renewal application for the Title V Air Permit at the company’s New York facility. The new date is June 30.
- “Greenidge continues to operate in New York without interruption during this period and intends to continue to work constructively with the Department to finalize a permit renewal,” the company said in the statement. “It is not uncommon for renewal applicants to operate for extended periods of time, sometimes years, prior to finalizing a permit renewal and additional future extensions may be requested," the miner added.
- Greenidge shares are lower by nearly 50% year to date, and down 2.2% in after-hours action on Thursday evening.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
Top Stories
