Greenidge Generation: Q4 Profit Beats Its Previous Guidance

(RTTNews) - Greenidge Generation Holdings Inc. (GREE) reported fourth quarter net income from continuing operations of $2.7 million. Earnings per share was $0.36, for the quarter. Fourth quarter adjusted EBITDA was $3.6 million. Total revenue was $19.6 million, for the quarter.

Greenidge CEO Jordan Kovler said: "Our team's collective efforts enabled us to deliver $0.36 in earnings per share and $3.6 million in adjusted EBITDA in the fourth quarter, beating our previous guidance."

Greenidge ended the fourth quarter with $13.3 million of cash and $68.7 million of debt at book value. Greenidge reduced its debt by $85.3 million in 2023, representing over 54% of its total debt.

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