Greenidge Generation 2025 Q3 Earnings 287.8% Net Income Surge

Greenidge Generation (GREE) delivered a dramatic turnaround in Q3 2025, reversing a 2024 Q3 net loss to a $11.96 million profit. The results exceeded expectations with revenue up 23.2% and a 47.2% debt reduction. Guidance highlighted regulatory progress, including the Title V Air Permit and Mississippi expansion plans.

Revenue

Greenidge’s total revenue surged 23.2% to $15.22 million in Q3 2025, driven by a 47.2% increase in power and capacity revenue to $4.74 million. Datacenter hosting revenue rose to $6.30 million, while cryptocurrency mining remained stable at $4.18 million. The diversification of revenue streams underscored the company’s strategic shift toward grid-supportive operations.

Earnings/Net Income

The company returned to profitability with EPS of $0.76, a 226.7% improvement from a $0.60 loss in 2024 Q3. Net income soared to $11.96 million, a 287.8% positive swing from a $6.37 million loss. This remarkable turnaround reflects operational efficiency gains and debt restructuring. The EPS performance highlights Greenidge’s successful pivot to sustainable profitability.

Price Action

Greenidge’s stock faced sharp declines post-earnings, plummeting 16.96% in the latest trading day and 28.64% month-to-date. The 2.74% weekly drop added to investor concerns, though the long-term outlook remains anchored in regulatory clarity and strategic growth initiatives.

CEO Commentary

CEO Jordan Kovler emphasized the “monumental quarter,” citing the Title V Air Permit as a regulatory milestone. Debt obligations for 2026 were reduced to $38 million, and miner efficiency improved by 10%. Strategic priorities include Mississippi expansion and site acquisitions with low-cost power, positioning Greenidge as a model for grid-supportive datacenters.

Guidance

The company anticipates finalizing the Title V Air Permit post-EPA review, ensuring long-term operations at Dresden. Debt restructuring via exchange offers and Mississippi’s 40MW capacity target by March 2027 remain central to its growth strategy. Forward-looking plans include exploring strategic acquisitions and leveraging discounted debt exchanges.

Additional News

Greenidge terminated its South Carolina property sale agreement, redirecting focus to Mississippi expansion. The company aims to secure 40MW of electrical capacity there by 2027. Debt reduction efforts via tender offers and exchanges cut senior unsecured debt by 47.2%. Analysts remain optimistic, with a “buy” rating and a $4.00 12-month price target, reflecting confidence in Greenidge’s operational and regulatory progress.