Greenidge Generation 2025 Q3 Earnings Profitability Surges 287.8% from Net Loss

Greenidge Generation (GREE) reported a dramatic turnaround in Q3 2025 earnings, driven by a 23.2% revenue increase and a net income swing from a $6.37 million loss to $11.96 million profit. The company’s operational performance and strategic cost management fueled this reversal, though it did not issue forward-looking guidance.

Revenue

Greenidge’s total revenue rose to $15.22 million in Q3 2025, reflecting robust demand across its three core segments. Datacenter hosting led the growth with $6.30 million, followed by cryptocurrency mining’s $4.18 million and power and capacity sales contributing $4.74 million. The power and capacity segment saw the largest year-over-year increase, driven by higher sales volumes and improved pricing.

Earnings/Net Income

The company returned to profitability with EPS of $0.76, reversing a $0.60 loss in Q3 2024, and achieved a net income of $11.96 million—287.8% higher than the prior year’s loss. This turnaround underscores effective debt restructuring and operational efficiency gains. The EPS improvement marks a significant milestone in Greenidge’s financial recovery.

Post-Earnings Price Action Review

The stock’s post-earnings performance was mixed. Shares edged up 1.55% in the latest trading day but faced downward pressure in the following week, declining 13.25%. Month-to-date, the stock plummeted 34.50%, reflecting broader market volatility and investor skepticism about the company’s long-term sustainability despite its short-term gains. The price action highlights the challenge of converting improved financials into sustained market confidence.

CEO Commentary

Greenidge’s CEO emphasized Q3’s operational success, citing revenue growth and profitability as evidence of strategic initiatives in energy infrastructure and asset optimization. Leadership remains cautious about macroeconomic risks but expressed confidence in leveraging opportunities in the renewable energy sector.

Guidance

Greenidge did not provide explicit forward-looking guidance for 2026, focusing instead on debt restructuring and operational stability.

Additional News

Greenidge recently secured a landmark agreement with New York State for a new five-year air permit, critical for its New York facility’s operations. The company also sold its Mississippi facility for $4.2 million, part of a broader strategy to reduce debt, having cut senior unsecured debt by 47.2% to $38 million. Additionally, Greenidge plans to explore strategic alternatives for its South Carolina property and aims to secure 40MW electrical capacity by March 2027.