Quarterly ResultMay 18, 2026, 08:12 AM
Greenidge Q1 Revenue $20.8M; Power & Capacity Revenue Doubles
AI Summary
Greenidge Generation Holdings Inc. reported Q1 2026 financial results, with total revenue increasing to $20.8 million and power and capacity revenue more than doubling year-over-year to $18.7 million. The company also made significant progress in its AI/HPC datacenter development strategy, including receiving a proposed interconnection agreement for 60MW at its Dresden facility and initiating a 250MW load study at its Mississippi site. Additionally, Greenidge continued debt reduction efforts and strategic asset monetization to strengthen its balance sheet, despite reporting a net loss of $4.6 million.
Key Highlights
- Power and capacity revenue more than doubled year-over-year to $18.7 million.
- Total revenue increased to $20.8 million, up $1.6 million from Q1 2025.
- Net loss improved to $4.6 million, a $1.0 million improvement from Q1 2025.
- Received proposed NYSEG Interconnection Agreement for 60MW at Dresden facility.
- Submitted request for 250MW additional power at Mississippi greenfield site.
- Signed agreement in April to sell a non-core asset in Mississippi for $1.08 million.
- Held 98 Bitcoin valued at $6.7 million as of March 31, 2026.
- Ended Q1 with $7.1 million cash and $38.9 million senior unsecured debt.
Price Impact
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