Greenidge Generation 2025 Q3 Earnings Record Net Income of $11.96M 287.8% Increase

Greenidge Generation (GREE) delivered a dramatic turnaround in Q3 2025, reporting net income of $11.96 million—up from a $6.37 million loss in the same period last year. The company’s revenue surged 23.2% to $15.22 million, driven by improved operational efficiency and strategic cost management. Management highlighted a $16.1 million improvement in net income from Q2 2025, underscoring a broader financial recovery.

Revenue

Greenidge Generation’s total revenue reached $15.22 million in Q3 2025, a 23.2% increase from $12.35 million in the prior-year period. Datacenter hosting revenue accounted for the largest segment at $6.30 million, followed by cryptocurrency mining at $4.18 million. Power and capacity sales contributed $4.74 million, reflecting a $2.1 million sequential improvement from Q2 2025. The company also noted a $0.3 million rise in datacenter hosting revenue compared to the previous quarter, while cryptocurrency mining output declined by 15 units to 95 Bitcoins.

Earnings/Net Income

The company achieved a net income of $11.96 million in Q3 2025, a 287.8% increase from a $6.37 million loss in Q3 2024. Earnings per share (EPS) improved to $0.76 from a $0.60 loss, driven by a gain on troubled debt restructuring and cost reductions. The substantial improvement in net income and EPS underscores a strategic turnaround driven by operational efficiency and debt restructuring gains.

Post-Earnings Price Action Review

Despite the strong earnings, the stock’s post-announcement performance was mixed. Shares edged up 1.55% during the latest trading day but tumbled 13.25% for the week and plummeted 34.50% month-to-date. A 30-day holding strategy post-earnings resulted in a -13.5% return, underperforming the market average by 14.5%. This volatility highlights investor skepticism about short-term sustainability despite improved financials.

CEO Commentary

CEO commentary emphasized robust performance fueled by operational efficiency and strong market demand. The company attributed its turnaround to strategic initiatives, including the sale of the Mississippi facility and debt reduction efforts.

Additional News

1. Air Permit Agreement: Greenidge secured a landmark five-year Title V Air Permit with New York State, pending public comment and regulatory review.

2. Mississippi Facility Sale: The company sold its Mississippi facility for $4.2 million, excluding a 5.6-acre tract, as part of liquidity-enhancing strategies.

3. South Carolina Property Agreement Termination: Greenidge terminated its agreement to sell South Carolina property, signaling a shift in asset management priorities.

Guidance

Greenidge Generation plans to secure 40MW electrical capacity by March 2027 and is exploring debt restructuring through exchange offers. The company remains focused on operational scalability and regulatory compliance to sustain its recovery.