Greenidge Generation generated $12.1 million in crypto custody revenue and $6.6 million in self-mining revenue in the third quarter

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Cointime2023/11/14 23:54

By:Cointime

Cryptocurrency data center and power company Greenidge Generation (NASDAQ stock code: GREE) has announced its operating performance for the third quarter of 2023. The company's revenue for the third quarter was $20.9 million, a 5% decrease from the same period last year. Cryptocurrency data center hosting revenue was $12.1 million, compared to no revenue in the previous year.Due to Greenidge's capacity shift to data center hosting in the first half of 2023, cryptocurrency data center mining revenue was $6.6 million, a 64% decrease from the previous year. Power and capacity revenue was $2.1 million, a 41% decrease from the previous year. As of September 30, 2023, Greenidge had cash of $10.7 million and a debt balance of $94 million, a decrease from $157.5 million as of December 31, 2022.

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