0001628280-22-029860 | 10-Q | XBRL Viewer | Greenidge Generation Holdings INC

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INTANGIBLE ASSETS - Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (for the remainder of)	$ 232
2023	928
2024	928
2025	684
Thereafter	69
Total	$ 2,841	$ 3,537

DEBT - Narrative (Details) $ in Millions				3 Months Ended		9 Months Ended
DEBT - Narrative (Details) $ in Millions	Aug. 10, 2022 USD ($) renewal_option	Mar. 21, 2022 USD ($)	Mar. 18, 2022 renewal_option	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 31, 2022 USD ($)
Debt Instrument [Line Items]
Interest expense				$ 5.4	$ 1.0	$ 15.7	$ 1.4
Amended principal amount	$ 16.4
Percentage of proceeds received from sale of stock to be used to repay debt	65.00%
Debt instrument, face amount				176.2		176.2
Debt instrument, fair value				139.2		139.2
Unamortized discounts and debt issuance costs				6.4		6.4
Greenidge And Noteholder
Debt Instrument [Line Items]
Interest rate	7.50%
Master Equipment Financing Agreement
Debt Instrument [Line Items]
Aggregate principal loan amount		$ 81.0
Interest rate		13.00%
Promissory Note
Debt Instrument [Line Items]
Interest rate			6.00%
Number of renewal options \| renewal_option	4		5
Renewal term	30 days		30 days
Master Equipment Finance Agreement
Debt Instrument [Line Items]
Borrowed amount partially funded				$ 17.0		$ 17.0		$ 54.0
Debt term		25 months
8.50% Senior Secured Notes Due 2026
Debt Instrument [Line Items]
Interest rate				8.50%		8.50%

EQUITY BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Feb. 28, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Stock-based compensation expense	$ 0.4	$ 0.4	$ 1.0	$ 1.5
2021 Equity Plan
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Common stock reserved for issuance (in shares)					3,831,112
Resticted Common Stock Unit
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Granted (in shares)			55,870
Fair market value of the awards granted			$ 0.3
Unrecognized compensation cost	2.0		$ 2.0
Unrecognized compensation cost, period for recognition			1 year 7 days
Resticted Common Stock Unit \| 2021 Equity Plan
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Granted (in shares)			55,870
Vesting period			3 years
Share-Based Payment Arrangement, Option
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Unrecognized compensation cost	$ 0.2		$ 0.2
Unrecognized compensation cost, period for recognition			1 year 5 months 26 days

INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 0.2	$ 0.1	$ 0.7	$ 0.1

RELATED PARTY TRANSACTIONS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Greenidge Blocker Corp
Related Party Transaction [Line Items]
Costs reimbursed	$ 0.1
Letter of Credit
Related Party Transaction [Line Items]
Net proceeds from new line of credit	5.0
Empire
Related Party Transaction [Line Items]
Net proceeds from new line of credit	3.6
Atlas
Related Party Transaction [Line Items]
Limited guaranty payment	$ 1.0

DEBT (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Equipment Financing Agreements

The following table provides information on the equipment financing agreements:


$ in thousands							Balance as of:
Note	Loan Date	Maturity Date	Interest Rate		Amount Financed		September 30, 2022		December 31, 2021
Equipment Financings:
A	December 2020	June 2022	17.0	%	$	4,482	$	—	$	1,245
B	December 2020	June 2022	17.0	%	428		—		95
C	March 2021	November 2022	17.0	%	2,229		248		1,362
D	April 2021	December 2022	17.0	%	4,012		669		2,674
E - H	May 2021	October 2023	15.0	%	15,724		12,235		15,513
I	July 2021	January 2023	17.0	%	4,457		1,238		3,468
J	July 2021	March 2023	17.0	%	2,717		604		1,962
K	October 2021	June 2023	17.0	%	2,223		864		1,976
L	March 2022	April 2024	13.0	%	81,375		74,690		—
Bonds Payable	October 2021/December 2021	October 2026	8.5	%	72,200		72,200		72,200
Secured Promissory Note	March 2022	June 2023	7.5	%	26,500		13,410		—
Total debt							176,158		100,495
Less: Debt discount and issuance costs							(6,425)		(5,667)
Total debt at book value							169,733		94,828
Less: Current portion							(73,218)		(19,577)
Long-term debt, net of current portion and deferred financing fees							$	96,515	$	75,251

Minimum Future Principal Payments on Debt

Minimum future principal payments on debt as of September 30, 2022 were as follows:


$ in thousands
Remainder of 2022	$	20,404
2023	66,479
2024	17,075
2025	—
2026	72,200
Total	$	176,158

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 13,600	$ 2,700		$ 22,000	$ 5,500
Impairment of long-lived assets	$ 0	$ 0		$ 71,500	$ 0
Miners
Property, Plant and Equipment [Line Items]
Estimated useful lives				3 years
Miners \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives			5 years
Plant infrastructure
Property, Plant and Equipment [Line Items]
Estimated useful lives				10 years
Plant infrastructure \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives			15 years
Plant infrastructure \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives			39 years
Cryptocurrency Datacenter and Power Generation
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets				$ 71,500

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	20,000,000	20,000,000
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, issued (in shares)	42,964,462	40,865,336
Common stock, outstanding (in shares)	42,964,462	40,865,336

CONCENTRATIONS	9 Months Ended
CONCENTRATIONS	Sep. 30, 2022
Risks and Uncertainties [Abstract]
CONCENTRATIONS	CONCENTRATIONS The Company has one power customer, NYISO, that accounted for 12% and 9% of consolidated revenue for the three months ended September 30, 2022 and 2021, respectively. NYISO accounted for 13% and 12% of consolidated revenue for the nine months ended September 30, 2022 and 2021, respectively. For cryptocurrency datacenter operations, Greenidge considers its mining pool operators to be its customers. Greenidge has historically used a limited number of pool operators that have operated under contracts with a one-day term, which allows Greenidge the option to change pool operators on a daily basis. Revenue from one of the Company’s pool operator customers accounted for approximately 60% and 62% of total revenue for the three months ended September 30, 2022 and 2021, respectively, and 56% and 37% for the nine months ended September 30, 2022 and 2021, respectively. The Support Services segment's largest customer accounted for approximately 19% and 18% of the Company's consolidated revenue during the three and nine months ended September 30, 2022, respectively, and also accounted for approximately 69% and 67% of the Company's consolidated accounts receivable balance at September 30, 2022 and December 31, 2021, respectively. The contract with the Support Services segment's largest customer expires on December 31, 2022 and has not been renewed. The Company has one natural gas vendor that accounted for approximately 67% and 60% of the aggregate cost of revenue- cryptocurrency data center and cost of revenue- power and capacity for the three months ended September 30, 2022 and 2021, respectively and 64% and 59% of cost of revenue for the nine months ended September 30, 2022 and 2021, respectively.

SEGMENT INFORMATION - Reconciliation of Total of Segments Adjusted EBITDA to Consolidated (Loss) Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting [Abstract]
Total Segments Adjusted EBITDA (loss)	$ (2,288)	$ 21,177	$ 9,168	$ 33,668
Depreciation and amortization	(13,835)	(2,667)	(22,680)	(5,531)
Stock-based compensation	(361)	(411)	(1,029)	(1,474)
Merger and other costs	(242)	(29,847)	(940)	(31,095)
Expansion costs	(183)	(128)	(2,375)	(128)
Interest expense, net	(5,430)	(1,009)	(15,693)	(1,399)
Loss on sale of assets	(759)	0	(130)	0
Long-lived asset impairment	0	0	(71,500)	0
Remeasurement of environmental liability	0	0	(11,109)	0
Loss before income taxes	$ (23,098)	$ (12,885)	$ (116,288)	$ (5,959)

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	Sep. 30, 2022 location
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of locations where facilities are owned and operated	2

CONCENTRATIONS (Details)	3 Months Ended		9 Months Ended		12 Months Ended
CONCENTRATIONS (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cryptocurrency datacenter
Concentration Risk [Line Items]
Revenue from contract with customer, term			1 day
Sales Revenue Net \| Customer Concentration Risk \| One Major Customer
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	9.00%	13.00%	12.00%
Sales Revenue Net \| Customer Concentration Risk \| Operator Customer One
Concentration Risk [Line Items]
Concentration risk percentage	60.00%	62.00%	56.00%	37.00%
Sales Revenue Net \| Supplier Concentration Risk \| One Major Customer
Concentration Risk [Line Items]
Concentration risk percentage	67.00%	60.00%	64.00%	59.00%
Sales Revenue Net \| Supplier Concentration Risk \| Operator Customer One
Concentration Risk [Line Items]
Concentration risk percentage	19.00%		18.00%
Accounts Receivable \| Customer Concentration Risk \| One Major Customer
Concentration Risk [Line Items]
Concentration risk percentage			69.00%		67.00%

STOCKHOLDERS' EQUITY	9 Months Ended
STOCKHOLDERS' EQUITY	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY Equity Purchase Agreement with B. Riley Principal Capital, LLC On September 15, 2021, Greenidge entered into a common stock purchase agreement (the “2021 Purchase Agreement”) with B. Riley Principal Capital, LLC (the “Investor”) pursuant to which Greenidge has the right to “put” or sell to the Investor up to $500 million of shares of class A common stock, subject to certain limitations and conditions set forth in the 2021 Purchase Agreement, from time to time during the term of the 2021 Purchase Agreement. The per share purchase price for the shares of class A common stock that Greenidge elected to sell to the Investor pursuant to the 2021 Purchase Agreement were determined by reference to the volume weighted average price of class A common stock during the applicable purchase date on which Greenidge had timely delivered written notice to the Investor directing it to purchase shares under the 2021 Purchase Agreement, less a fixed 5% discount, which was to be increased to a fixed 6% discount at such time that the Company received aggregate cash proceeds of $200 million as payment for all shares of class A common stock purchased by the Investor in all prior sales of class A common stock made under the 2021 Purchase Agreement. The Investor had no obligation to purchase shares pursuant to the 2021 Purchase Agreement to the extent that such purchase would have caused the Investor to own more than 4.99% of the Company’s issued and outstanding shares of class A common stock. Greenidge and the Investor entered into a mutual termination agreement on April 6, 2022 (the "Mutual Termination"), which became effective immediately upon signing. Prior to the termination, the Company had sold an aggregate of 2,547,500 shares of class A common stock pursuant to the 2021 Purchase Agreement representing proceeds of $54.9 million, net of discounts, under the 2021 Purchase Agreement. The Company did not incur any early termination penalties as a result of the Mutual Termination. On April 7, 2022, Greenidge entered into a new common stock purchase agreement, as amended by Amendment No. 1 to Common Stock Purchase Agreement, dated as of April 13, 2022 (as amended, the “2022 Purchase Agreement”) with the Investor. Pursuant to the 2022 Purchase Agreement, Greenidge has the right to sell to the Investor up to $500 million in shares of its class A common stock, subject to certain limitations and the satisfaction of specified conditions in the 2022 Purchase Agreement, from time to time over the 24-month period commencing on April 28, 2022. The per share purchase price for the shares of class A common stock that Greenidge elects to sell to the Investor pursuant to the 2022 Purchase Agreement will be determined by reference to the volume weighted average price of the class A common stock (“VWAP”) during the full primary (or “regular”) trading session on Nasdaq on the applicable purchase date, calculated in accordance with the 2022 Purchase Agreement, or, if the total aggregate number (or “volume”) of class A common stock traded on Nasdaq reaches a certain threshold amount (calculated in accordance with the 2022 Purchase Agreement) prior to the official close of the regular trading session on Nasdaq on such purchase date, then the VWAP will be calculated only for the period beginning at the official open (or “commencement”) of the regular trading session and ending at the time the volume of class A common stock traded on Nasdaq reaches such threshold amount (such period for each purchase, the “Purchase Valuation Period”), less a fixed 5% discount to the VWAP for the Purchase Valuation Period, which shall be increased to 6% at such time that Greenidge has received aggregate cash proceeds of $200 million from all prior sales of class A common stock to the Investor under the 2021 Purchase Agreement and the 2022 Purchase Agreement. The per share purchase price for the shares of class A common stock that Greenidge elects to sell to the Investor in an intraday purchase pursuant to the 2022 Purchase Agreement will be calculated in the same manner as in the case of a regular purchase, provided that the VWAP for such intraday purchase will be measured during the portion of the normal trading hours on Nasdaq on the applicable purchase date that will begin 30 minutes after the latest of (i) the time that the applicable intraday purchase notice is timely received by the Investor, (ii) the time that the Purchase Valuation Period for any prior regular purchase effected on the same purchase date (if any) has ended and (iii) the time that the Intraday Purchase Valuation Period (defined below) for the most recent prior intraday purchase effected on the same purchase date (if any) has ended, and ending at the earlier of (x) the official close of the regular trading session on Nasdaq on such purchase date and (y) the time the volume of shares of class A common stock traded on Nasdaq reaches a certain threshold amount calculated in accordance with the 2022 Purchase Agreement (such period for each intraday purchase, the “Intraday Purchase Valuation Period”), less a fixed 5% discount to the VWAP for the Intraday Purchase Valuation Period, which shall be increased to 6% at such time that Greenidge has received aggregate cash proceeds of $200 million from all prior sales of class A common stock to the Investor under the 2021 Purchase Agreement and the 2022 Purchase Agreement. In addition, on April 13, 2022, Greenidge entered into Amendment No. 1 to the 2022 Purchase Agreement (the “Amendment”) with the Investor. The Amendment provides for an additional feature that would cause the period used to determine the applicable purchase price to be paid by the Investor for shares elected to be sold by Greenidge to terminate on the applicable purchase date if the trading price of the class A common stock falls below a minimum price threshold. The Amendment also modifies the maximum amount of shares of Greenidge’s class A common stock that Greenidge can elect to sell to the Investor in any single purchase effected by Greenidge. Under the applicable Nasdaq rules, unless stockholder approval is obtained, Greenidge may not sell more than 19.99% of the total number of shares of its class A common stock and class B common stock issued and outstanding immediately prior to the execution of the 2022 Purchase Agreement, which number of shares shall be reduced on a share-for-share basis by the number of shares of class A common stock that may be aggregated with the transactions contemplated by the 2022 Purchase Agreement under the applicable Nasdaq rules. Sales of common stock pursuant to the 2022 Purchase Agreement, and the timing of any sales, are solely at the option of the Company, and the Company is under no obligation to sell any securities to the Investor under the 2022 Purchase Agreement. In connection with the 2022 Purchase Agreement, Greenidge entered into a registration rights agreement with the Investor, pursuant to which Greenidge agreed to prepare and file a registration statement registering the resale by the Investor of those shares of Greenidge’s class A common stock to be issued under the 2022 Purchase Agreement. The registration statement became effective on April 28, 2022 (the "Effective Date"), relating to the resale of 5,720,951 shares of Greenidge’s class A common stock in connection with the 2022 Purchase Agreement. From the Effective Date to September 30, 2022, Greenidge issued 1,599,229 shares of class A common stock to the Investor pursuant to the 2022 Purchase Agreement for aggregate proceeds of $5.0 million, net of discounts. At The Market Issuance Sales Agreement with B. Riley Securities On September 19, 2022, as amended on October 3, 2022, Greenidge entered into an at market issuance sales agreement (the "ATM Agreement") with B. Riley Securities, Inc. ("B. Riley") and Northland Securities, Inc. ("Northland"), relating to shares of Greenidge’s class A common stock. Under the ATM Agreement, B. Riley will use its commercially reasonable efforts to sell on Greenidge’s behalf the shares of Greenidge’s class A common stock requested to be sold by Greenidge, consistent with B. Riley’s normal trading and sales practices, under the terms and subject to the conditions set forth in the ATM Agreement. Greenidge has the discretion, subject to market demand, to vary the timing, prices and number of shares sold in accordance with the ATM Agreement. B. Riley may sell the Company’s class A common stock by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act. Greenidge will pay B. Riley commissions for its services in acting as sales agent, in an amount equal to up to 5.0% of the gross proceeds of all class A common stock sold through it as sales agent under the ATM Agreement. Pursuant to the registration statement filed registering shares to be sold in accordance with the terms of the ATM Agreement, Greenidge may offer and sell shares of its class A common stock up to a maximum aggregate offering price of $22,800,000. From October 1, 2022 through November 11, 2022, Greenidge issued 1,634,964 shares, which B. Riley sold for $1.6 million of net proceeds to Greenidge

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss	$ (131,488)	$ (3,099)
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation and amortization	22,680	5,531
Deferred income taxes	15,016	(2,945)
Impairment of long-lived assets	71,500	0
Amortization of debt issuance costs	3,059	54
Long-lived asset impairment	85	0
Loss on sale of assets	130	0
Remeasurement of environmental liability	11,109	170
Stock-based compensation expense	1,029	1,474
Investor fee paid in common stock	0	17,826
Advisor fee paid in warrants	0	8,779
Changes in operating assets and liabilities:
Accounts receivable	820	272
Emissions and carbon offset credits	1,102	107
Prepaids and other assets	(548)	(5,955)
Accounts payable	(1,559)	(455)
Accrued emissions	2,592	(408)
Accrued expenses	5,185	5,315
Income taxes payable	(2,296)	0
Other	358	0
Net cash flow used for operating activities	(1,226)	26,666
CASH FLOW FROM INVESTING ACTIVITIES:
Purchases of and deposits for property and equipment	(127,374)	(65,757)
Proceeds from sale of assets	4,802	0
Proceeds from sale of marketable securities	496	0
Cash received in merger	0	27,113
Net cash flow used for investing activities	(122,076)	(38,644)
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from issuance of preferred stock, net of issuance costs	0	37,113
Proceeds from issuance of common stock, net of issuance costs	7,783	0
Proceeds from stock options exercised	14	1,000
Proceeds from warrants exercised	0	2,155
Issuance costs associated with shares issued for Support acquisition	0	(2,296)
Restricted stock unit awards settled in cash for taxes	(65)	0
Proceeds from debt, net of issuance costs	107,105	25,112
Principal payments on debt	(35,258)	(4,440)
Repayments of lease obligations	(363)	(569)
Net cash flow provided by financing activities	79,216	58,075
CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(44,086)	46,097
CASH AND CASH EQUIVALENTS - beginning of year	82,599	5,052
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH - end of period	$ 38,513	$ 51,149

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Letters of Credit The Company's controlling stockholder, Atlas Holdings LLC ("Atlas"), obtained a letter of credit from a financial institution in the amount of $5.0 million at September 30, 2022, payable to the New York State Department of Environmental Conservation ("NYSDEC"). This letter of credit guarantees the current value of the Company’s landfill environmental liability (see Note 13). Atlas also obtained a letter of credit from a financial institution in the amount of $3.6 million at September 30, 2022, payable to Empire Pipeline Incorporated (“Empire”) in the event the Company should not make contracted payments for costs related to a pipeline interconnection project the Company has entered into with Empire (see Note 13). Guarantee An affiliate of Atlas has guaranteed the payment obligation of Greenidge in favor of Emera Energy Services, Inc. ("Emera") under an Energy Management Agreement and an ISDA Master Agreement under which Greenidge may enter into various transactions involving the purchase and sale of natural gas, electricity and other commodities with Emera. This guaranty is limited to $1.0 million. Other Affiliates of Atlas from time to time incur certain expansion costs for the benefit of Greenidge, which are fully reimbursed by Greenidge. The amount of costs reimbursed by Greenidge during the nine months ended September 30, 2022 was less than $0.1 million.

PROPERTY AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment, net consisted of the following at September 30, 2022 and December 31, 2021:


$ in thousands	Estimated Useful Lives	September 30, 2022		December 31, 2021
Plant infrastructure	10 years	$	10,226	$	34,725
Miners	3 years	176,309		48,121
Miner facility infrastructure	10 years	32,368		15,143
Land	N/A	8,460		8,460
Equipment	5 years	1,012		1,660
Software	3 years	636		636
Coal ash impoundment	4 years	—		2,410
Construction in process	N/A	26,076		25,856
Miner deposits	N/A	27,281		98,110
		282,368		235,121
Less: Accumulated depreciation		(36,297)		(18,030)
		$	246,071	$	217,091

EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share, Basic and Diluted

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings and diluted per share of common stock.


	Three Months Ended September 30:				Nine Months Ended September 30:
$ in thousands, except per share amounts	2022		2021		2022		2021
Numerator
Net loss	$	(23,177)	$	(7,896)	$	(131,488)	$	(3,099)
Less: Net income attributable to the member units before the reorganization	—		—		—		(648)
Net loss attributable to Greenidge	$	(23,177)	$	(7,896)	$	(131,488)	$	(3,747)
Denominator
Basic weighted average shares outstanding	42,239		30,116		41,620		28,949


Diluted weighted average shares outstanding	42,239		30,116		41,620		28,949
(Loss) earnings per share
Basic	$	(0.55)	$	(0.26)	$	(3.16)	$	(0.13)
Diluted	$	(0.55)	$	(0.26)	$	(3.16)	$	(0.13)

STOCKHOLDERS' EQUITY (Details) - USD ($)						1 Months Ended	3 Months Ended
STOCKHOLDERS' EQUITY (Details) - USD ($)	Oct. 03, 2022	Apr. 28, 2022	Apr. 07, 2022	Apr. 06, 2022	Sep. 15, 2021	Nov. 11, 2022	Sep. 30, 2022
Class of Stock [Line Items]
Maximum class A common stock and class B common stock shares in excess of the exchange cap			19.99%
Private Placement
Class of Stock [Line Items]
Discount on consideration received			5.00%		5.00%
Discount on consideration received, triggering event achieved			6.00%		6.00%
Discount on consideration received, triggering event, amount			$ 200,000,000		$ 200,000,000
Maximum percentage of ownership by investor					4.99%
Sale of stock, period			24 months
At The Market Issuance Sales Agreement \| Subsequent Event
Class of Stock [Line Items]
Number of shares issued in transaction						1,634,964
Underwriter compensation, percentage of gross stock sales	5.00%
Maximum aggregate consideration to be received on transaction	$ 22,800,000
Net proceeds received						$ 1,600,000
Common Class A
Class of Stock [Line Items]
Additional common stock issued (in shares)							1,599,229
Additional common stock issued							$ 5,000,000
Common Class A \| Common Stock Purchase Agreement and Registration Rights Agreement
Class of Stock [Line Items]
Proceeds from issuance of private placement			$ 500,000,000		$ 500,000,000
Number of shares issued in transaction				2,547,500
Proceeds from common stock purchase agreement				$ 54,900,000
Common Class A \| Greenidge Common Stock
Class of Stock [Line Items]
Additional common stock issued (in shares)		5,720,951

EQUITY BASED COMPENSATION - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, exercised (in dollars per share)	$ 6.25
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Exercisable, weighted average remaining contractual life as of end of period	8 years 4 months 6 days
Outstanding, aggregate intrinsic value as of end of period	$ 0
Share-Based Payment Arrangement, Option
Options
Outstanding, beginning balance (in shares)	583,080
Exercised (in shares)	(2,296)
Forfeited (in shares)	(9,554)
Expired (in shares)	(667)
Outstanding, ending balance (in shares)	570,563	583,080
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, beginning balance (in dollars per share)	$ 6.01
Weighted average exercise price per share, forfeited (in dollars per share)	6.77
Weighted average exercise price per share, expired (in dollars per share)	6.25
Weighted average exercise price per share, ending balance (in dollars per share)	$ 6.00	$ 6.01
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Exercisable as of end of period (in shares)	447,930
Exercisable, weighted average exercise price per share as of end of period (in dollars per share)	$ 5.89
Outstanding, weighted average remaining contractual life as of beginning of period		9 years 2 months 12 days
Outstanding, weighted average remaining contractual life as of end of period	8 years 4 months 17 days
Outstanding, aggregate intrinsic value as of beginning period	$ 5,854
Outstanding, aggregate intrinsic value as of end of period		$ 5,854
Exercisable, aggregate intrinsic value, as of end of period	$ 8,386

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate as a percentage	(0.30%)	38.70%	(13.10%)	48.00%
Charge for recognition of valuation allowance			$ 15.0

MERGER WITH SUPPORT.COM - Supplemental Pro Forma Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Net loss	$ (23,177)	$ (107,882)	$ (429)	$ (7,896)	$ 4,797	$ (131,488)	$ (3,099)
Support.Com Business Acquisition
Business Acquisition [Line Items]
Revenues				42,448			87,830
Net loss				$ (11,783)			$ (12,602)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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DEBT - Equipment Financing Agreements (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amount Financed	$ 176,200
Less: Debt discount and issuance costs	(6,400)
Less: Current portion	(73,218)	$ (19,577)
Long-term debt, net of current portion and deferred financing fees	96,515	75,251
Equipment Finance Agreement
Debt Instrument [Line Items]
Total debt	176,158	100,495
Less: Debt discount and issuance costs	(6,425)	(5,667)
Total	169,733	94,828
Less: Current portion	(73,218)	(19,577)
Long-term debt, net of current portion and deferred financing fees	$ 96,515	75,251
Equipment Finance Agreement \| Promissory Note
Debt Instrument [Line Items]
Interest Rate	7.50%
Amount Financed	$ 26,500
Total debt	$ 13,410	0
Miner Equipment Note A \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	17.00%
Amount Financed	$ 4,482
Total debt	$ 0	1,245
Miner Equipment Note B \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	17.00%
Amount Financed	$ 428
Total debt	$ 0	95
Miner Equipment Note C \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	17.00%
Amount Financed	$ 2,229
Total debt	$ 248	1,362
Miner Equipment Note D \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	17.00%
Amount Financed	$ 4,012
Total debt	$ 669	2,674
Miner Equipment Note E And H \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	15.00%
Amount Financed	$ 15,724
Total debt	$ 12,235	15,513
Miner Equipment Note I \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	17.00%
Amount Financed	$ 4,457
Total debt	$ 1,238	3,468
Miner Equipment Note J \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	17.00%
Amount Financed	$ 2,717
Total debt	$ 604	1,962
Miner Equipment Note K \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	17.00%
Amount Financed	$ 2,223
Total debt	$ 864	1,976
Miner Equipment Note L \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	13.00%
Amount Financed	$ 81,375
Total debt	$ 74,690	0
Bonds \| Equipment Finance Agreement
Debt Instrument [Line Items]
Interest Rate	8.50%
Amount Financed	$ 72,200
Total debt	$ 72,200	$ 72,200

INTANGIBLE ASSETS - Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	$ 3,810	$ 3,810
Accumulated Amortization	(969)	(273)
Total	2,841	3,537
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	3,320	3,320
Accumulated Amortization	(867)	(244)
Total	2,453	3,076
Tradename
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	490	490
Accumulated Amortization	(102)	(29)
Total	$ 388	$ 461

MERGER WITH SUPPORT.COM (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Supplemental Pro Forma Financial Information


$ in thousands	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Revenues	$	42,448	$	87,830
Net loss	$	(11,783)	$	(12,602)

EQUITY BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Unvested Restricted Common Stock Unit Awards Activity

The Company’s unvested RSU awards activity for the nine months ended September 30, 2022 is summarized below:


	RSUs	Weighted Average Grant Date Fair Value
Unvested at December 31, 2021	516,987	$	6.80
Granted	55,870	$	5.70
Vested	(90,704)	$	6.25
Unvested at September 30, 2022	482,153	$	6.77

Stock Options Activity

The Company’s common stock options activity for the nine months ended September 30, 2022 is summarized below:


	Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2021	583,080	$	6.01	9.2	$	5,854

Exercised	(2,296)	$	6.25
Forfeited	(9,554)	$	6.77
Expired	(667)	$	6.25
Outstanding at September 30, 2022	570,563	$	6.00	8.38	$	-
Exercisable as of September 30, 2022	447,930	$	5.89	8.35	$	8,386

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, the Company may be involved in various lawsuits and legal proceedings that arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in such matters may arise and harm the Company's business. The Company is currently not aware of any such legal proceedings or claims that it believes will have a material adverse effect on its business, financial condition or operating results. Environmental Liabilities The Company owns and operates a fully permitted landfill that also acts as a leachate treatment facility. In accordance with ASC 410-30, Environmental Obligations ("ASC 410-30"), the Company has recorded an environmental liability of $8.6 million as of September 30, 2022 and December 31, 2021. As required by NYSDEC, companies with landfills are required to fund a trust to cover closure costs and expenses after the landfill has stopped operating or, in lieu of a trust, may negotiate to maintain a letter of credit guaranteeing the payment of the liability. Estimates are based on various assumptions including, but not limited to, closure and post-closure cost estimates, timing of expenditures, escalation factors, and requirements of granted permits. Additional adjustments to the environment liability may occur periodically due to potential changes in estimates and assumptions. The Company has coal combustion residual ("CCR") liabilities associated with the closure of a coal ash pond located on the Company's property in the Town of Torrey, New York. In accordance with ASC 410-30, the Company has a liability of $13.8 million as of September 30, 2022, which includes a charge of $11.1 million during the nine-months ended September 30, 2022 as a result of an update to the cost estimates as part of the ongoing evaluation of the site. CCRs are subject to federal and state requirements. Estimates are based on various assumptions including, but not limited to, closure and post-closure cost estimates, timing of expenditures, escalation factors, and requirements of granted permits. Additional adjustments to the environment liability may occur periodically due to potential changes in remediation requirements regarding coal combustion residuals which may lead to material changes in estimates and assumptions. Other Matters Support.com has received and may in the future receive additional requests for information, including subpoenas, from other governmental agencies relating to the subject matter of a Consent Order and Civil Investigative Demands. The Company intends to cooperate with these information requests and is not aware of any other legal proceedings against the Company by governmental authorities at this time. Commitments The Company entered into a contract with Empire in September 2020 that provides for the transportation to its pipeline of 15,000 dekatherms of natural gas per day, approximately $0.2 million per month. The contract ends in September 2030 and may be terminated by either party with 12 months' notice after the initial 10-year period.

PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment, net consisted of the following at September 30, 2022 and December 31, 2021:


$ in thousands	Estimated Useful Lives	September 30, 2022		December 31, 2021
Plant infrastructure	10 years	$	10,226	$	34,725
Miners	3 years	176,309		48,121
Miner facility infrastructure	10 years	32,368		15,143
Land	N/A	8,460		8,460
Equipment	5 years	1,012		1,660
Software	3 years	636		636
Coal ash impoundment	4 years	—		2,410
Construction in process	N/A	26,076		25,856
Miner deposits	N/A	27,281		98,110
		282,368		235,121
Less: Accumulated depreciation		(36,297)		(18,030)
		$	246,071	$	217,091

The Company has reevaluated the useful lives of the assets and adjusted the lives of the miners from 5 years to 3 years and the lives of plant infrastructure from 15 - 39 years to 10 years effective July 1, 2022. Total depreciation expense was $13.6 million and $2.7 million for the three months ended September 30, 2022 and 2021, respectively, and $22.0 million and $5.5 million for the nine months ended September 30, 2022 and 2021, respectively.

The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of a long-lived asset, management evaluates whether the estimated future undiscounted net cash flows, based on prevailing market conditions, from the asset are less than its carrying amount. If impairment is indicated, the long-lived asset is written down to fair value.

As a result of the significant reduction in the price of bitcoin and increased energy prices during the nine months ended September 30, 2022, the Company recognized a noncash impairment charge of $71.5 million for the assets associated with the Cryptocurrency Datacenter and Power Generation segment to reduce the net book value of the long-lived assets

to fair value. Fair value was determined utilizing the market approach. The excess of the book value over the estimated fair value was allocated to the long-lived assets of the Cryptocurrency and Power Generation segment.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 11, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Mar. 18, 2022	Dec. 31, 2021	Dec. 31, 2020
Short-Term Debt [Line Items]
Percentage of decrease in bitcoin			57.00%
Percentage of increase in natural gas			53.00%
Cash and cash equivalents, including restricted cash		$ 38,513		$ 38,513	$ 51,149	$ 38,513		$ 82,599	$ 5,052
Bitcoin holdings at fair value		600		600		600
Accounts payable and accrued expenses		24,900		24,900		24,900
Principal payments plus interest payments on debt				88,600
Proceeds from sale of common stock				7,783	0
Proceeds from sale of assets				4,802	$ 0
Restricted cash		10,500		$ 10,500		10,500		$ 0
Subsequent Event
Short-Term Debt [Line Items]
Proceeds from sale of common stock	$ 1,600
B. Riley Commercial Capital, LLC \| Promissory Note
Short-Term Debt [Line Items]
Aggregate principal loan amount							$ 26,500
B Riley
Short-Term Debt [Line Items]
Proceeds from sale of common stock		$ 2,500				$ 59,800

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Restricted Cash	Restricted CashThe Company has agreed to certain restrictions on $10.5 million of cash received associated with certain financings made during the three months ended September 30, 2022. The Company agreed to certain restrictions associated with this cash which is classified as restricted as of September 30, 2022.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current period presentation.
Recent Accounting Pronouncements, Adopted	Recent Accounting Pronouncements, Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. As an emerging growth company, the Company has elected to adopt this pronouncement following the effective date for private companies beginning with periods beginning after December 15, 2021. The Company adopted this standard on January 1, 2022, and the adoption did not materially impact the Company's condensed consolidated financial statements.

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Information about Reportable Segments

The table below presents information about reportable segments for the three and nine months ended September 30, 2022 and 2021, respectively:


	Three Months Ended September 30,				Nine Months Ended September 30,
$ in thousands	2022		2021		2022		2021
Revenues:
Cryptocurrency Datacenter and Power Generation	$	21,885	$	34,233	$	73,966	$	61,472
Support Services	7,474		1,521		24,387		1,521
Total Revenues	$	29,359	$	35,754	$	98,353	$	62,993

Segment Adjusted EBITDA (loss)
Cryptocurrency Datacenter and Power Generation	$	(3,669)	$	20,973	$	3,886	$	33,464
Support Services	1,381		204		5,282		204
Total Segments Adjusted EBITDA (loss)	$	(2,288)	$	21,177	$	9,168	$	33,668

Reconciliation of Total of Segments Adjusted EBITDA to Consolidated (Loss) Income Before Income Taxes

In addition, the table below provides a reconciliation of the total of the Segments Adjusted EBITDA to the consolidated (loss) income before income taxes:


	Three Months Ended September 30,				Nine Months Ended September 30,
$ in thousands	2022		2021		2022		2021
Total Segments Adjusted EBITDA (loss)	$	(2,288)	$	21,177	$	9,168	$	33,668
Depreciation and amortization	(13,835)		(2,667)		(22,680)		(5,531)
Stock-based compensation	(361)		(411)		(1,029)		(1,474)
Merger and other costs	(242)		(29,847)		(940)		(31,095)
Expansion costs	(183)		(128)		(2,375)		(128)
Interest expense, net	(5,430)		(1,009)		(15,693)		(1,399)
Loss on sale of assets	(759)		—		(130)		—
Long-lived asset impairment	—		—		(71,500)		—
Remeasurement of environmental liability	—		—		(11,109)		—
Consolidated loss before income taxes	$	(23,098)	$	(12,885)	$	(116,288)	$	(5,959)

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Sep. 30, 2020 USD ($) dth	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Product Liability Contingency [Line Items]
Environmental trust liability		$ 22,415	$ 22,415	$ 11,306
Purchase commitment, energy volume required per day (in dekatherm) \| dth	15,000,000
Purchase commitment per month	$ 200
Purchase commitment, termination notice period	12 months
Purchase commitment period	10 years
Coal ash impoundment
Product Liability Contingency [Line Items]
Environmental trust liability		8,600	8,600	$ 8,600
Environmental obligations			$ 13,800
Selling General And Administrative Expenses Member \| Coal ash impoundment
Product Liability Contingency [Line Items]
Environmental obligations		$ 11,100

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended		9 Months Ended
EARNINGS PER SHARE - Narrative (Details) - shares	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jan. 28, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, outstanding (in shares)	42,964,462		42,964,462		40,865,336
Antidilutive securities excluded from computation of earnings per share amount (in shares)	0	0	0	0
Resticted Common Stock Unit
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Number of shares outstanding	482,153		482,153
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, outstanding (in shares)						0
Number of shares outstanding	570,563		570,563

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Subsequent events have been evaluated through November 14, 2022, the date at which the condensed consolidated financial statements were available to be issued, and the Company has concluded that no such events or transactions took place that would require disclosure herein except as stated directly below. Management Transition Effective October 8, 2022, The Board of Directors appointed David Anderson to the position of Chief Executive Officer and Scott MacKenzie to the position of Chief Strategy Officer. Upon assuming the role, Mr. Anderson joined Greenidge's Board of Directors. As an inducement for Messrs. Anderson and MacKenzie to enter into employment with Greenidge, Greenidge's Compensation Committee approved grants of stock options ("Options") to each of Messrs. Anderson and MacKenzie. The Options granted to Mr. Anderson are exercisable for 1,852,812 shares of Greenidge's class A common stock ("Shares") and the Options granted to Mr. MacKenzie are exercisable for 1,224,030 Shares. The options were granted on October 10, 2022 and have an exercise price equal to the closing price of a Share on the grant date. The Options vest in equal annual installments on each of the first, second and third anniversaries of the grant date, subject to Messrs. Anderson's and MacKenzie's continued service through the applicable vesting dates, respectively. Greenidge also announced the mutual agreement between Greenidge and Jeffrey Kirt that Mr. Kirt would resign from his roles as CEO and Director, effective as of October 7, 2022 and transition to providing consulting services to Greenidge. Mr. Kirt’s consulting services to Greenidge are scheduled to continue through October 10, 2023. Under the terms of the letter agreement that describe the terms of Mr. Kirt’s separation of employment from Greenidge and the terms of his consulting services to Greenidge, Mr. Kirt will receive his base salary of $750,000 during the consulting period, immediate vesting of 229,868 RSUs, and a one-time grant under the Company’s 2021 Equity Incentive Plan of 280,000 restricted stock units that were fully vested at grant on October 10, 2022 and settle in twelve weekly installments beginning on October 14, 2022. ATM Agreement On September 19, 2022, as amended on October 3, 2022, Greenidge entered into the ATM Agreement with B. Riley and Northland. Pursuant to the ATM Agreement, Greenidge may offer and sell shares of its class A common stock having an aggregate offering price of $22,800,000. See Note 9, Stockholder's Equity. Support Services Customer Contract In October 2022, the Company was informed that the contract associated with the Support Services segment's largest customer, which expires on December 31, 2022, will not be renewed beyond that date. This customer accounted for approximately 19% and 18% of the Company's consolidated revenue during the three and nine months ended September 30, 2022, respectively.

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The Company calculates basic earnings per share by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. The diluted earnings per share is computed by assuming the exercise, settlement, and vesting of all potential dilutive common stock equivalents outstanding for the period using the treasury stock method.

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings and diluted per share of common stock.


	Three Months Ended September 30:				Nine Months Ended September 30:
$ in thousands, except per share amounts	2022		2021		2022		2021
Numerator
Net loss	$	(23,177)	$	(7,896)	$	(131,488)	$	(3,099)
Less: Net income attributable to the member units before the reorganization	—		—		—		(648)
Net loss attributable to Greenidge	$	(23,177)	$	(7,896)	$	(131,488)	$	(3,747)
Denominator
Basic weighted average shares outstanding	42,239		30,116		41,620		28,949


Diluted weighted average shares outstanding	42,239		30,116		41,620		28,949
(Loss) earnings per share
Basic	$	(0.55)	$	(0.26)	$	(3.16)	$	(0.13)
Diluted	$	(0.55)	$	(0.26)	$	(3.16)	$	(0.13)

For the nine months ended September 30, 2021, basic (loss) earnings per share is applicable only for the period from January 29, 2021 through September 30, 2021, which is the period following the reorganization of Greenidge Generation Holdings LLC (" GGH") into Greenidge and presents the period that the Company had outstanding common stock. Prior to the reorganization, there were no shares of common stock outstanding, and the limited liability structure of GGH consisted of member units. The Company analyzed the calculation of earnings per unit for periods prior to the reorganization and determined that it resulted in values that would not be meaningful to the users of these condensed consolidated financial statements.

For the three and nine months ended September 30, 2022, there was no impact of dilution from any of the outstanding 482,153 RSUs or 570,563 common stock options due to the net loss, since inclusion of any impact from these awards would be anti-dilutive. For the three and nine months ended September 30, 2021, there were no shares excluded from the calculation of diluted earnings per share due to the net loss, since inclusion of any impact from these awards would be antidilutive.

EQUITY BASED COMPENSATION - Unvested Restricted Common Stock Unit Awards Activity (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
RSUs
Unvested, beginning balance (in shares) \| shares	516,987
Granted (in shares) \| shares	55,870
Vested (in shares) \| shares	(90,704)
Unvested, ending balance (in shares) \| shares	482,153
Weighted Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 6.80
Granted (in dollars per share) \| $ / shares	5.70
Vested (in dollars per share) \| $ / shares	6.25
Unvested, ending balance (in dollars per share) \| $ / shares	$ 6.77

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 28,013,000	$ 82,599,000
Restricted cash	10,500,000	0
Short-term investments	0	496,000
Digital assets	337,000	476,000
Accounts receivable	4,704,000	5,524,000
Prepaid expenses	9,694,000	9,146,000
Emissions and carbon offset credits	1,259,000	2,361,000
Total current assets	54,507,000	100,602,000
LONG-TERM ASSETS:
Property and equipment, net	246,071,000	217,091,000
Right-of-use assets	222,000	1,472,000
Intangible assets, net	2,841,000	3,537,000
Goodwill	3,062,000	3,062,000
Deferred tax assets	29,000	15,058,000
Other long-term assets	615,000	445,000
Total assets	307,347,000	341,267,000
CURRENT LIABILITIES:
Accounts payable	4,064,000	5,923,000
Accrued emissions expense	5,226,000	2,634,000
Accrued expenses	15,560,000	10,375,000
Income taxes payable	185,000	2,481,000
Long-term debt, current portion	73,218,000	19,577,000
Lease obligations, current portion	112,000	736,000
Total current liabilities	98,365,000	41,726,000
LONG-TERM LIABILITIES:
Long-term debt, net of current portion and deferred financing fees	96,515,000	75,251,000
Lease obligations, net of current portion	137,000	193,000
Environmental liabilities	22,415,000	11,306,000
Other long-term liabilities	358,000	368,000
Total liabilities	217,790,000	128,844,000
COMMITMENTS AND CONTINGENCIES (NOTE 13)
STOCKHOLDERS' EQUITY:
Preferred stock, par value $0.0001, 20,000,000 shares authorized, none outstanding	0	0
Common stock, par value $0.0001, 3,000,000,000 shares authorized, 42,964,462 and 40,865,336 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	4,000	4,000
Additional paid-in capital	290,576,000	281,815,000
Cumulative translation adjustment	(139,000)	0
Accumulated deficit	(200,884,000)	(69,396,000)
Total stockholders' equity	89,557,000	212,423,000
Total liabilities and stockholders' equity	$ 307,347,000	$ 341,267,000

DEBT

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

DEBT

The Company has entered into equipment finance agreements that are secured by the purchased miner equipment. These agreements generally require monthly payments of principal, interest and a risk premium fee. The following table provides information on the equipment financing agreements:


$ in thousands							Balance as of:
Note	Loan Date	Maturity Date	Interest Rate		Amount Financed		September 30, 2022		December 31, 2021
Equipment Financings:
A	December 2020	June 2022	17.0	%	$	4,482	$	—	$	1,245
B	December 2020	June 2022	17.0	%	428		—		95
C	March 2021	November 2022	17.0	%	2,229		248		1,362
D	April 2021	December 2022	17.0	%	4,012		669		2,674
E - H	May 2021	October 2023	15.0	%	15,724		12,235		15,513
I	July 2021	January 2023	17.0	%	4,457		1,238		3,468
J	July 2021	March 2023	17.0	%	2,717		604		1,962
K	October 2021	June 2023	17.0	%	2,223		864		1,976
L	March 2022	April 2024	13.0	%	81,375		74,690		—
Bonds Payable	October 2021/December 2021	October 2026	8.5	%	72,200		72,200		72,200
Secured Promissory Note	March 2022	June 2023	7.5	%	26,500		13,410		—
Total debt							176,158		100,495
Less: Debt discount and issuance costs							(6,425)		(5,667)
Total debt at book value							169,733		94,828
Less: Current portion							(73,218)		(19,577)
Long-term debt, net of current portion and deferred financing fees							$	96,515	$	75,251

The Company incurred interest expense of $5.4 million and $1.0 million during the three months ended September 30, 2022 and 2021, respectively, and $15.7 million and $1.4 million during the nine months ended September 30, 2022 and 2021, respectively, under the terms of these financings.

Minimum future principal payments on debt as of September 30, 2022 were as follows:


$ in thousands
Remainder of 2022	$	20,404
2023	66,479
2024	17,075
2025	—
2026	72,200
Total	$	176,158

Master Equipment Financing Agreement

On March 21, 2022, Greenidge, as guarantor, together with its wholly-owned subsidiaries GTX Gen 1 Collateral LLC, GNY Collateral LLC and GSC Collateral LLC (collectively, the “Borrowers”), entered into a Master Equipment Finance Agreement (the “NYDIG Financing Agreement”) with NYDIG ABL LLC ("NYDIG"), as lender, whereby NYDIG agreed to lend to the Borrowers approximately $81 million under loan schedules that were partially funded for approximately $54 million in March 2022, with additional funding of $17 million through September 30, 2022, to finance the acquisition of certain miners and related equipment (the “Financed Equipment”). The Borrowers' obligations under the NYDIG Financing

Agreement are fully and unconditionally guaranteed by Greenidge. Outstanding borrowings under the NYDIG Financing Agreement are secured by all assets of the Borrowers, including without limitation, the Financed Equipment and proceeds thereof (including bitcoin). The partially funded loan schedules bear interest at a rate of 13% per annum and have terms of twenty-five months. Certain loan schedules are interest-only for a specified period and otherwise payments on loan schedules include both an interest and principal payment. Pursuant to the terms of the NYDIG Financing Agreement, the Borrowers and with certain exceptions, the Company, will be subject to certain covenants and restrictive provisions which will, among other things: limit the Borrowers’ ability to incur additional indebtedness for borrowed money; limit additional liens on the collateral or the equity interests of any of the Borrowers; limit consolidations or mergers including the Borrowers or the Company unless such would not constitute a Change in Control (as defined therein); limit disposing of the collateral or any portion of the collateral with certain exceptions; limit the Borrowers’ ability to make certain restricted payments and investments; and limit the ability to create certain direct obligations of the Borrowers or the Company unless the NYDIG Financing Agreement is at least pari passu in right of payment; each of which are subject to customary and usual exceptions and baskets. The loans under the NYDIG Financing Agreement cannot be voluntarily partially prepaid, but may be prepaid in whole subject to a make-whole calculation. The NYDIG Financing Agreement is denoted in the table above as "Equipment Financings: L."

Secured Promissory Note

As disclosed in Note 2, on March 18, 2022, Greenidge issued the Secured Promissory Note in favor of the Noteholder. The Secured Promissory Note is guaranteed by certain of Greenidge’s wholly-owned subsidiaries: Greenidge South Carolina LLC, GSC RE LLC and 300 Jones Road LLC. The loan outstanding under the Secured Promissory Note originally bore interest at a rate of 6% per annum and originally matured on July 20, 2022, subject to up to five 30-day extensions, through December 2022, that may be elected by Greenidge provided no Event of Default (as defined therein) has occurred and is continuing and Greenidge pays an Exit Fee (as defined therein) to the Noteholder. Pursuant to the terms of the Secured Promissory Note, Greenidge and its subsidiaries will be subject to certain covenants and restrictive provisions which will, among other things, limit their ability to incur additional indebtedness for borrowed money or additional liens other than debt and liens permitted pursuant to the Secured Promissory Note; consolidate or merge unless Greenidge survives; or transfer all or substantially all of their assets; make certain restricted payments or investments; have a Change of Control (as defined therein); modify certain material agreements; and engage in certain types of transactions with affiliates; each of which are subject to customary and usual exceptions and baskets. The Secured Promissory Note is secured by a first priority mortgage lien on certain real property together with related improvements, fixtures and personal property located at Greenidge's South Carolina Facility. Greenidge’s obligations under the Secured Promissory Note may be prepaid in whole or in part without penalties or fees.

On August 10, 2022, Greenidge and the Noteholder agreed to amend the terms of the Secured Promissory Note, by extending the maturity to June 2023, reducing scheduled monthly amortization payments and revising the interest rate to 7.5%. The Exit Fees (as defined therein) associated with the four 30-day extensions subsequent to August 10, 2022, were accelerated and added to the principal balance as of that date. The principal balance following the amendment was $16.4 million as of August 10, 2022. Additionally mandatory repayments of the Secured Promissory Note were revised, such that 65% of the net cash proceeds received from sales of stock under the 2022 Purchase Agreement shall be paid to Noteholder to repay the Secured Promissory Note.

Fair Value Disclosure

The notional value and estimated fair value of the Company's debt totaled $176.2 million and $139.2 million, respectively, at September 30, 2022. The notional value does not include unamortized discounts and debt issuance costs of $6.4 million at September 30, 2022. The estimated fair value of the Bonds Payable, representing the fair value of our 8.50% senior secured notes due 2026, was measured using quoted market prices at the reporting date. Such instruments were valued using Level 1 inputs. For the Equipment Financings and Secured Promissory Note, the Company believes the notional values approximate their fair values.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

SUBSEQUENT EVENTS (Details)				3 Months Ended	9 Months Ended
SUBSEQUENT EVENTS (Details)	Oct. 10, 2022 shares	Oct. 07, 2022 USD ($) installment shares	Oct. 03, 2022 USD ($)	Sep. 30, 2022	Sep. 30, 2022 shares
Operator Customer One \| Sales Revenue Net \| Supplier Concentration Risk
Subsequent Event [Line Items]
Concentration risk percentage				19.00%	18.00%
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Vested in period (in shares)					90,704
Grants in period (in shares)					55,870
Subsequent Event
Subsequent Event [Line Items]
Mutual agreement, base salary \| $		$ 750,000
Subsequent Event \| At The Market Issuance Sales Agreement
Subsequent Event [Line Items]
Maximum aggregate consideration to be received on transaction \| $			$ 22,800,000
Subsequent Event \| Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Vested in period (in shares)		229,868
Grants in period (in shares)		280,000
Number of installments to settle share based awards fully vested \| installment		12
Subsequent Event \| Chief Executive Officer
Subsequent Event [Line Items]
Grants in period (in shares)	1,852,812
Subsequent Event \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche One
Subsequent Event [Line Items]
Vesting period	1 year
Subsequent Event \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Two
Subsequent Event [Line Items]
Vesting period	1 year
Subsequent Event \| Chief Executive Officer \| Share-Based Payment Arrangement, Tranche Three
Subsequent Event [Line Items]
Vesting period	1 year
Subsequent Event \| Chief Strategy Officer
Subsequent Event [Line Items]
Grants in period (in shares)	1,224,030
Subsequent Event \| Chief Strategy Officer \| Share-Based Payment Arrangement, Tranche One
Subsequent Event [Line Items]
Vesting period	1 year
Subsequent Event \| Chief Strategy Officer \| Share-Based Payment Arrangement, Tranche Two
Subsequent Event [Line Items]
Vesting period	1 year
Subsequent Event \| Chief Strategy Officer \| Share-Based Payment Arrangement, Tranche Three
Subsequent Event [Line Items]
Vesting period	1 year

SUPPLEMENTAL CASH FLOW INFORMATION

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

Greenidge had the following noncash investing and financing activities:


	Nine Months Ended September 30,
$ in thousands	2022		2021
Shares issued to Support.com shareholders upon Merger	$	—	$	93,885
Property and equipment purchases financed with common stock	$	—	$	991
Contribution of Preferred Units, Senior Priority Units, and notes payable to related party for Greenidge class B common stock	$	—	$	72,891
Issuance of shares for investor fee associated with successful completion of Merger	$	—	$	17,826
Issuance of warrants to advisor in connection with completion of Merger	$	—	$	8,779

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Supplemental Cash Flow Information [Abstract]
Shares issued to Support.com shareholders upon Merger		$ 0	$ 93,885
Property and equipment purchases financed with common stock		0	991
Contribution of Preferred Units, Senior Priority Units, and notes payable to related party for Greenidge class B common stock		0	72,891
Issuance of shares for investor fee associated with successful completion of Merger	$ 17,826	0	17,826
Issuance of warrants to advisor in connection with completion of Merger	$ 8,779	$ 0	$ 8,779

EARNINGS PER SHARE - Basic Earnings and Diluted Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator
Net loss	$ (23,177)	$ (107,882)	$ (429)	$ (7,896)	$ 4,797	$ (131,488)	$ (3,099)
Less: Net income attributable to the member units before the reorganization	0			0		0	(648)
Net loss attributable to Greenidge, basic	(23,177)			(7,896)		(131,488)	(3,747)
Net loss attributable to Greenidge, diluted	$ (23,177)			$ (7,896)		$ (131,488)	$ (3,747)
Denominator
Basic weighted average shares outstanding (in shares)	42,239,000			30,116,000		41,620,000	28,949,000
Diluted weighted average shares outstanding (in shares)	42,239,000			30,116,000		41,620,000	28,949,000
(Loss) earnings per share
Basic (in dollars per share)	$ (0.55)			$ (0.26)		$ (3.16)	$ (0.13)
Diluted (in dollars per share)	$ (0.55)			$ (0.26)		$ (3.16)	$ (0.13)

INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Finite-lived Intangible Assets

The following is a summary of finite-lived intangible assets:


$ in thousands
As of September 30, 2022	Intangible Assets		Accumulated Amortization		Intangible Assets, Net
Customer relationships	$	3,320	$	(867)	$	2,453
Tradename	490		(102)		388
Total	$	3,810	$	(969)	$	2,841

As of December 31, 2021	Intangible Assets		Accumulated Amortization		Intangible Assets, Net
Customer relationships	$	3,320	$	(244)	$	3,076
Tradename	490		(29)		461
Total	$	3,810	$	(273)	$	3,537

Finite-Lived Intangible Assets, Future Amortization Expense

Future amortization expense is as follows:


$ in thousands	Amortization
2022 (for the remainder of)	$	232
2023	928
2024	928
2025	684
Thereafter	69
Total	$	2,841

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reporting segments	2

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Nov. 11, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-40808
Entity Registrant Name	Greenidge Generation Holdings Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-1746728
Entity Address, Address Line One	135 Rennell Drive
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	Fairfield
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06890
City Area Code	203
Local Phone Number	718-5960
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001844971
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Class A Common Stock, $0.0001 par value
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Trading Symbol	GREE
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		16,213,043
8.50% Senior Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	8.50% Senior Notes due 2026
Trading Symbol	GREEL
Security Exchange Name	NASDAQ
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		28,526,372

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
REVENUE:
Total revenue	$ 29,359	$ 35,754	$ 98,353	$ 62,993
OPERATING COSTS AND EXPENSES:
Selling, general and administrative	10,240	5,446	35,720	12,017
Merger and other costs	242	29,847	940	31,095
Depreciation and amortization	13,835	2,667	22,680	5,531
Impairment of long-lived assets	0	0	71,500	0
Remeasurement of environmental liability	0	0	11,109	0
Total operating costs and expenses	46,412	47,619	199,003	67,689
Loss from operations	(17,053)	(11,865)	(100,650)	(4,696)
OTHER EXPENSE, NET:
Interest expense, net	(5,430)	(1,009)	(15,693)	(1,377)
Interest expense - related party	0	0	0	(22)
Gain (loss) on sale of digital assets	0	18	(15)	159
Loss on sale of assets	(759)	0	(130)	0
Other income (loss), net	144	(29)	200	(23)
Total other expense, net	(6,045)	(1,020)	(15,638)	(1,263)
Loss before income taxes	(23,098)	(12,885)	(116,288)	(5,959)
Provision for income taxes	79	(4,989)	15,200	(2,860)
Net loss	(23,177)	(7,896)	(131,488)	(3,099)
Foreign currency translation adjustment	27	0	(139)	0
Comprehensive loss	$ (23,150)	$ (7,896)	$ (131,627)	$ (3,099)
Loss per share:
Basic (in dollars per share)	$ (0.55)	$ (0.26)	$ (3.16)	$ (0.13)
Diluted (in dollars per share)	$ (0.55)	$ (0.26)	$ (3.16)	$ (0.13)
Cryptocurrency datacenter
REVENUE:
Total revenue	$ 18,272	$ 31,156	$ 61,571	$ 54,217
OPERATING COSTS AND EXPENSES:
Cost of revenue	14,675	5,974	34,795	11,504
Power and capacity
REVENUE:
Total revenue	3,613	3,077	12,395	7,255
OPERATING COSTS AND EXPENSES:
Cost of revenue	3,760	2,831	10,955	6,688
Services and other
REVENUE:
Total revenue	7,474	1,521	24,387	1,521
OPERATING COSTS AND EXPENSES:
Cost of revenue	$ 3,660	$ 854	$ 11,304	$ 854

SEGMENT INFORMATION - Information about Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total Revenues	$ 29,359	$ 35,754	$ 98,353	$ 62,993
Total Segments Adjusted EBITDA (loss)	(2,288)	21,177	9,168	33,668
Cryptocurrency Datacenter and Power Generation
Segment Reporting Information [Line Items]
Total Revenues	18,272	31,156	61,571	54,217
Cryptocurrency Datacenter and Power Generation \| Operating Segments
Segment Reporting Information [Line Items]
Total Revenues	21,885	34,233	73,966	61,472
Total Segments Adjusted EBITDA (loss)	(3,669)	20,973	3,886	33,464
Support Services \| Operating Segments
Segment Reporting Information [Line Items]
Total Revenues	7,474	1,521	24,387	1,521
Total Segments Adjusted EBITDA (loss)	$ 1,381	$ 204	$ 5,282	$ 204

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

MERGER WITH SUPPORT.COM

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

MERGER WITH SUPPORT.COM

As described in Note 1, on September 14, 2021, Greenidge and Support.com combined their respective businesses through an all-stock merger transaction where Support.com became a wholly owned subsidiary of Greenidge. The Merger has been accounted for as a business combination using the acquisition method of accounting in accordance with the provisions of FASB ASC 805, Business Combinations (“ASC 805”). Greenidge was determined to be the acquiring company for accounting purposes.

Results of Support.com Operations Since the Merger

For the three months ended September 30, 2022, the acquired Support.com business contributed $7.5 million in revenue and $1.0 million of operating income, which includes approximately $0.2 million of amortization expenses of acquired intangible assets. For the nine months ended September 30, 2022, the acquired Support.com business contributed $24.4 million in revenue and $4.3 million of operating income, which includes approximately $0.7 million of amortization expenses of acquired intangible assets.

Supplemental Pro Forma Financial Information

In accordance with ASC 805, the following supplemental unaudited pro forma information gives effect to the Merger as if it had occurred on January 1, 2021. The unaudited pro forma financial information reflects certain adjustments related to the acquisition, such as:

•Conforming the accounting policies of Support.com to those applied by Greenidge;

•Recording certain incremental expenses resulting from purchase accounting adjustments, such as amortization expense in connection with fair value adjustments to intangible assets; and

•Recording the related tax effects of pro forma adjustments.


$ in thousands	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Revenues	$	42,448	$	87,830
Net loss	$	(11,783)	$	(12,602)

The pro forma results for three and nine months ended September 30, 2021 include $30.0 million and $32.4 million, respectively, of transaction costs for both Greenidge and Support.com $24.5 million and $26.9 million after tax, respectively), such as advisor fees, legal and accounting expenses. These costs will not affect the combined company’s statement of operations beyond 12 months after the closing date, September 14, 2021.

The unaudited pro forma financial information should not be relied upon as being indicative of the historical results that would have been obtained if the Merger had actually occurred on that date, nor the results of operations of the Company in the future.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Presentation of Condensed Consolidated Financial Statements In the opinion of Greenidge management, the accompanying condensed consolidated financial statements include all adjustments necessary for a fair presentation of the results for the interim periods presented and such adjustments are of a normal recurring nature. The results for the unaudited interim condensed consolidated statements of operations and comprehensive (loss) income are not necessarily indicative of results to be expected for the year ending December 31, 2022 or for any future interim period. The unaudited condensed interim consolidated financial statements do not include all of the information and notes required by United States Generally Accepted Accounting Principles ("GAAP") for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements of the Company in Greenidge's 2021 Annual Report on Form 10-K. There have been no material changes to the Company’s significant accounting policies during 2022. In accordance with the FASB Accounting Standards Update (“ASU”) 2014-15, Presentation of Financial Statements – Going Concern, the Company’s management evaluated whether there are conditions or events that pose risk associated with the Company's ability to continue as a going concern within one year after the date these financial statements have been issued. The Company’s condensed financial statements have been prepared assuming that it will continue as a going concern. During the second quarter of 2022, the price of bitcoin decreased approximately 57% and the price of natural gas increased approximately 53% and these economic conditions did not improve during the third quarter. The Company’s profit and cash flows are impacted significantly by volatility in the prices of bitcoin and natural gas, and the volatility in these commodity prices significantly impacted the Company's results during 2022. At September 30, 2022, the Company had $38.5 million of cash and cash equivalents, including restricted cash, and $0.6 million of bitcoin holdings at fair value, while having $24.9 million of accounts payable and accrued expenses, as well as $88.6 million of principal and interest payments on debt due within the next 12 months. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has evaluated different options to improve its liquidity to fund the Company’s expenses and to support the Company’s debt servicing requirements. These options include, but are not limited to: •selling or monetizing certain assets, including but not limited to sales of additional miners, sales of surplus mining infrastructure equipment, or sales of unannounced and undeveloped locations the Company was evaluating for expansion; •issuances of equity, including but not limited to issuances under the 2022 Purchase Agreement (as defined in Note 9, Stockholders' Equity) and the ATM Agreement (as defined in Note 9, Stockholders' Equity); •migrating certain of its equipment to lower cost locations; and •negotiating with lenders to modify the terms of certain of the Company’s existing financings, which could result in various modifications, including but not limited to, the modification of interest rates and/or debt amortization, assignment of collateral and changes to the Company's business model. On March 18, 2022, Greenidge issued a secured promissory note, as borrower, in favor of B. Riley Commercial Capital, LLC, as noteholder (the "Noteholder"), evidencing a $26.5 million aggregate principal amount loan by the Noteholder to Greenidge (the "Secured Promissory Note"). In the Company's efforts to further improve liquidity, Greenidge and the Noteholder amended the Secured Promissory Note on August 10, 2022. The amendment extended the maturity to June 2023, reduced scheduled monthly amortization payments and reduced mandatory prepayments. The Company has received proceeds of $59.8 million since October 2021 from sales of common stock under the 2021 Purchase Agreement (as defined in Note 9, Stockholders' Equity) and the 2022 Purchase Agreement (as defined in Note 9, Stockholders' Equity), of which $2.5 million of proceeds, net of discounts, was received during the three months ended September 30, 2022. In September 2022, Greenidge entered into an ATM Agreement (as defined in Note 9, Stockholders' Equity), and since September 30, 2022 through November 11, 2022, the Company received proceeds of $1.6 million from sales of common stock under the ATM Agreement. The Company sold assets, including certain miners and other assets during the nine months ended September 30, 2022 for proceeds of $4.8 million; however, demand for miners has continued to decline during the third quarter of 2022. The Company anticipates that existing cash resources will be depleted by the end of the first quarter of 2023. Depending on its assumptions regarding the timing and ability to achieve more normalized levels of operating revenue, the estimated amount of required liquidity will vary significantly. Similarly, management cannot predict when or if bitcoin prices will recover to prior levels, or when energy costs may decrease. While the Company continues to work to implement the options to improve liquidity, there can be no assurance that these efforts will be successful. Management's ability to successfully implement these options could be negatively impacted by items outside of its control, in particular, significant decreases in the price of bitcoin, regulatory changes concerning cryptocurrency, increases in energy costs or other macroeconomic conditions and other matters identified in Part I, Item 1A "Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2021 and Part II, Item 1A "Risk Factors" of this Quarterly Report on Form 10-Q. Given the lack of improvement in the above mentioned factors in the third quarter of 2022, there is uncertainty regarding the Company’s financial condition and substantial doubt about its ability to continue as a going concern for a reasonable period of time. Restricted Cash The Company has agreed to certain restrictions on $10.5 million of cash received associated with certain financings made during the three months ended September 30, 2022. The Company agreed to certain restrictions associated with this cash which is classified as restricted as of September 30, 2022. Reclassifications Certain prior year amounts have been reclassified to conform to the current period presentation. Recent Accounting Pronouncements, Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. As an emerging growth company, the Company has elected to adopt this pronouncement following the effective date for private companies beginning with periods beginning after December 15, 2021. The Company adopted this standard on January 1, 2022, and the adoption did not materially impact the Company's condensed consolidated financial statements.

DEBT - Minimum Future Principal Payments on Debt (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 20,404
2023	66,479
2024	17,075
2025	0
2026	72,200
Total	$ 176,158

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. In addition, the effect of changes in enacted tax laws or rates or tax status is recognized in the interim period in which the change occurs. The Company's effective tax rate was (0.3)% and (13.1)% for the three and nine months ended September 30, 2022, respectively. The Company continued to evaluate the realizability of deferred tax assets and due to continued reduced profitability as a result of the declines in bitcoin prices ,concluded that a valuation allowance should continue to be recognized for any deferred tax assets generated during the quarter. As a result there was no net income tax benefit for pretax losses of the U.S. operations in the three months ended September 30, 2022. The effective tax rate for the nine months ended September 30, 2022 was different from the U.S. federal statutory rate of 21% primarily due to a charge of $15.0 million for the recognition of a valuation allowance during the second quarter of 2022 for deferred tax assets. Deferred tax assets primarily relate to historical net operating loss carryforwards of the Support.com business that was acquired in 2021. The Company's effective tax rate was 38.7% and 48.0% for the three and nine months ended September 30, 2021, respectively. The effective tax rates for the three and nine months ended September 30, 2021 include the recognition of a deferred tax liability caused by the reorganization from a limited liability company to a corporation during the three months ended March 31, 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

PROPERTY AND EQUIPMENT - Property and Equipment, Net (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 282,368	$ 235,121
Less: Accumulated depreciation	(36,297)	(18,030)
Property and equipment, net	$ 246,071	217,091
Plant infrastructure
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Property and equipment, gross	$ 10,226	34,725
Miners
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Property and equipment, gross	$ 176,309	48,121
Miner facility infrastructure
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Property and equipment, gross	$ 32,368	15,143
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,460	8,460
Equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property and equipment, gross	$ 1,012	1,660
Software
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Property and equipment, gross	$ 636	636
Coal ash impoundment
Property, Plant and Equipment [Line Items]
Estimated useful lives	4 years
Property and equipment, gross	$ 0	2,410
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	26,076	25,856
Miner deposits
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 27,281	$ 98,110

INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

As described in Notes 1 and 3, on September 14, 2021, Greenidge and Support.com combined their respective businesses through an all-stock merger transaction that was accounted for as a business combination in accordance with ASC 805. Prior to the Merger, Greenidge did not have any intangible assets.

The following is a summary of finite-lived intangible assets:


$ in thousands
As of September 30, 2022	Intangible Assets		Accumulated Amortization		Intangible Assets, Net
Customer relationships	$	3,320	$	(867)	$	2,453
Tradename	490		(102)		388
Total	$	3,810	$	(969)	$	2,841

As of December 31, 2021	Intangible Assets		Accumulated Amortization		Intangible Assets, Net
Customer relationships	$	3,320	$	(244)	$	3,076
Tradename	490		(29)		461
Total	$	3,810	$	(273)	$	3,537

Amortization expense was $0.2 million and $0.7 million for the three and nine months ended September 30, 2022, respectively. There was less than $0.1 million of amortization expense for both the three and nine months ended September 30, 2021.

Future amortization expense is as follows:


$ in thousands	Amortization
2022 (for the remainder of)	$	232
2023	928
2024	928
2025	684
Thereafter	69
Total	$	2,841

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	ORGANIZATION AND DESCRIPTION OF BUSINESS Greenidge Generation Holdings Inc. (“Greenidge”) and its subsidiaries (collectively, the “Company”) own and operate a vertically integrated cryptocurrency datacenter and power generation company. The Company owns and operates facilities at two locations: the Town of Torrey, New York and Spartanburg, South Carolina. The Company’s cryptocurrency datacenter operations generate revenue in the form of bitcoin by earning bitcoin as rewards and transaction fees for supporting the global bitcoin network with application-specific integrated circuit computers (“ASICs” or “miners”) owned by the Company. The earned bitcoin is then exchanged for U.S. dollars. The Company owns and operates a 106 megawatt ("MW") power facility that is connected to the New York Independent System Operator (“NYISO”) power grid. The Company sells electricity to the NYISO at all times when its power plant is running and increases or decreases the amount of electricity sold based on prevailing prices in the wholesale electricity market and demand for electricity. Merger with Support.com, Inc. On September 14, 2021, GGH Merger Sub, Inc. (“Merger Sub”), a wholly owned subsidiary of Greenidge, merged with and into Support.com, Inc. (“Support.com”), with Support.com continuing as the surviving corporation (the “Merger”) and a wholly owned subsidiary of Greenidge, pursuant to the Agreement and Plan of Merger, dated March 19, 2021 (the “Merger Agreement”), among Greenidge, Support.com and Merger Sub. The Merger combined the respective businesses of Greenidge and Support.com through an all-stock transaction and has been accounted for using the acquisition method of accounting in accordance with the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification ("ASC") 805, Business Combinations, with Greenidge being deemed the acquiring company for accounting purposes (see Note 3). Prior to the Merger, Greenidge's class A common stock ("class A common stock") was registered pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and, upon completion of the Merger on September 15, 2021, began trading on The Nasdaq Global Select Market ("Nasdaq") under the ticker symbol “GREE”. Concurrently, Support.com deregistered its shares pursuant to the Exchange Act. Support.com provides solutions and technical programs to customers delivered by home-based employees. Support.com’s homesourcing model, which enables outsourced work to be delivered by people working from home, has been specifically designed for remote work, with attention to security, recruiting, training, delivery, and employee engagement. Since the consummation of the Merger, the Support.com business operates as a wholly-owned subsidiary and a segment of Greenidge.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Preferred Stock \| Support Com
Payment of stock issuance costs	$ 2,296	$ 3,387

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

Effective September 14, 2021, following the completion of the Merger (see Notes 1 and 3), Support.com began operating within the Company as a separate operating and reporting segment; therefore, Greenidge has two operating and reporting segments since the Merger: (i) Cryptocurrency Datacenter and Power Generation and (ii) Support Services.

The Cryptocurrency Datacenter and Power Generation segment generates revenue primarily by earning bitcoin, with miners that are owned by the Company, as rewards and transaction fees for supporting the global bitcoin network. The Cryptocurrency Datacenter and Power Generation segment also sells surplus electricity generated by its power plant, and not consumed in cryptocurrency datacenter operations, to the NYISO power grid at prices set on a daily basis through the NYISO wholesale market. In addition, the Company receives revenues from the sale of its capacity and ancillary services in the NYISO wholesale market. The Cryptocurrency Datacenter and Power Generation segment operates in the United States.

The Support Services segment provides solutions and technical programs to customers delivered by home-based employees. The Support Services segment provides customer service, sales support, and technical support primarily to large corporations, businesses and professional services organizations. The Support Services segment also earns revenues for end-user software products provided through direct customer downloads and sales via partners. The Support Services segment operates primarily in the United States, but also has employees located in Philippines, India, Mexico, Colombia and Canada, including those staff providing support services.

The Company’s measure of profit or loss for segment reporting is income (loss) before income taxes, interest and depreciation and amortization and adjusted for share based compensation and excluding items not indicative of ongoing business trends (referred to as “Segment Adjusted EBITDA”). This is the measure used by the Company's Chief Operating Decision Maker to assess performance and allocate resources.

The table below presents information about reportable segments for the three and nine months ended September 30, 2022 and 2021, respectively:


	Three Months Ended September 30,				Nine Months Ended September 30,
$ in thousands	2022		2021		2022		2021
Revenues:
Cryptocurrency Datacenter and Power Generation	$	21,885	$	34,233	$	73,966	$	61,472
Support Services	7,474		1,521		24,387		1,521
Total Revenues	$	29,359	$	35,754	$	98,353	$	62,993

Segment Adjusted EBITDA (loss)
Cryptocurrency Datacenter and Power Generation	$	(3,669)	$	20,973	$	3,886	$	33,464
Support Services	1,381		204		5,282		204
Total Segments Adjusted EBITDA (loss)	$	(2,288)	$	21,177	$	9,168	$	33,668

In addition, the table below provides a reconciliation of the total of the Segments Adjusted EBITDA to the consolidated (loss) income before income taxes:


	Three Months Ended September 30,				Nine Months Ended September 30,
$ in thousands	2022		2021		2022		2021
Total Segments Adjusted EBITDA (loss)	$	(2,288)	$	21,177	$	9,168	$	33,668
Depreciation and amortization	(13,835)		(2,667)		(22,680)		(5,531)
Stock-based compensation	(361)		(411)		(1,029)		(1,474)
Merger and other costs	(242)		(29,847)		(940)		(31,095)
Expansion costs	(183)		(128)		(2,375)		(128)
Interest expense, net	(5,430)		(1,009)		(15,693)		(1,399)
Loss on sale of assets	(759)		—		(130)		—
Long-lived asset impairment	—		—		(71,500)		—
Remeasurement of environmental liability	—		—		(11,109)		—
Consolidated loss before income taxes	$	(23,098)	$	(12,885)	$	(116,288)	$	(5,959)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

EQUITY BASED COMPENSATION

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

EQUITY BASED COMPENSATION

In February 2021, Greenidge adopted an equity incentive plan and reserved 3,831,112 shares of class A common stock for issuance under the plan (the “2021 Equity Plan”), applicable to employees and non-employee directors.

Restricted Common Stock Unit Awards

During the nine months ended September 30, 2022, the Company awarded 55,870 restricted common stock units (“RSUs”) under the 2021 Equity Plan to employees, which are generally eligible to vest over a three-year period.

The Company’s unvested RSU awards activity for the nine months ended September 30, 2022 is summarized below:


	RSUs	Weighted Average Grant Date Fair Value
Unvested at December 31, 2021	516,987	$	6.80
Granted	55,870	$	5.70
Vested	(90,704)	$	6.25
Unvested at September 30, 2022	482,153	$	6.77

The value of RSU grants is measured based on their fair market value on the date of grant and amortized over their requisite service periods. During the nine months ended September 30, 2022, the fair market value of the awards granted totaled $0.3 million, and as of September 30, 2022, there was approximately $2.0 million of total unrecognized compensation cost related to unvested restricted stock rights, which is expected to be recognized over a remaining weighted-average vesting period of approximately 1.02 years.

Common Stock Options

The Company’s common stock options activity for the nine months ended September 30, 2022 is summarized below:


	Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2021	583,080	$	6.01	9.2	$	5,854

Exercised	(2,296)	$	6.25
Forfeited	(9,554)	$	6.77
Expired	(667)	$	6.25
Outstanding at September 30, 2022	570,563	$	6.00	8.38	$	-
Exercisable as of September 30, 2022	447,930	$	5.89	8.35	$	8,386

The value of common stock option grants is measured based on their fair market value on the date of grant and amortized over their requisite service periods. As of September 30, 2022, there was approximately $0.2 million of total unrecognized compensation cost related to unvested common stock options, which is expected to be recognized over a remaining weighted-average vesting period of approximately 1.49 years.

Stock-based Compensation

The Company recognized stock-based compensation expense of $0.4 million and $0.4 million during the three months ended September 30, 2022 and 2021, respectively, and $1.0 million and $1.5 million during the nine months ended September 30, 2022 and 2021, respectively. Stock-based compensation expense is included in selling, general and

administrative expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive (loss) income.

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

Greenidge had the following noncash investing and financing activities:


	Nine Months Ended September 30,
$ in thousands	2022		2021
Shares issued to Support.com shareholders upon Merger	$	—	$	93,885
Property and equipment purchases financed with common stock	$	—	$	991
Contribution of Preferred Units, Senior Priority Units, and notes payable to related party for Greenidge class B common stock	$	—	$	72,891
Issuance of shares for investor fee associated with successful completion of Merger	$	—	$	17,826
Issuance of warrants to advisor in connection with completion of Merger	$	—	$	8,779

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid - In Capital	Common Units	Preferred Units	Senior Priority Units	Total Members' Capital	Accumulated Deficit	Cumulative Translation Adjustment
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2020		0	0
Stockholders' equity, beginning balance at Dec. 31, 2020	$ 44,360	$ 0	$ 0	$ 0					$ (24,916)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution of GGH Preferred Units, GGH Senior Priority Units, and notes payable to related party for GGHI Common Stock (in shares)			26,800,300,000			(39,228,000)	(10,000,000)
Contribution of GGH Preferred Units, GGH Senior Priority Units, and notes payable to related party for GGHI Common Stock	3,615		$ 3	72,888		$ (39,074)	$ (30,202)	$ (69,276)
Contribution of GGH Common Units for GGHI Common Stock (in shares)			1,199,700,000
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs (in shares)		1,620,000,000
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs	37,113	$ 1		37,112
Stock-based compensation expense	1,063			1,063
Proceeds from stock options exercised (in shares)			160,000,000
Proceeds from stock options exercised	1,000			1,000
Stock issued to purchase miners (in shares)			160,000,000
Stock issued to purchase miners	991			991
Net loss	4,797								4,797
Stockholders' equity ending balance (in shares) at Jun. 30, 2021		1,620,000,000	28,320,000,000
Stockholders equity, ending balance at Jun. 30, 2021	92,939	$ 1	$ 3	113,054					(20,119)
Members' capital, common units, beginning balance (in shares) at Dec. 31, 2020					750,000
Members' capital, beginning balance at Dec. 31, 2020					$ 0	$ 39,074	$ 30,202	69,276
Members' capital, preferred units, beginning balance (in shares) at Dec. 31, 2020						39,228,000
Members' capital, senior priority units, beginning balance (in shares) at Dec. 31, 2020							10,000,000
Increase (Decrease) In Limited Liability Company (LLC) Members' Equity [Roll Forward]
Contribution of GGH Preferred Units, GGH Senior Priority Units, and notes payable to related party for GGHI Common Stock (in shares)			26,800,300,000			(39,228,000)	(10,000,000)
Contribution of GGH Preferred Units, GGH Senior Priority Units, and notes payable to related party for GGHI Common Stock	3,615		$ 3	72,888		$ (39,074)	$ (30,202)	(69,276)
Contribution of GGH Common Units for GGHI Common Stock					$ (750)
Members' capital, common units, ending balance (in shares) at Jun. 30, 2021					0
Members' capital, ending balance at Jun. 30, 2021					$ 0	$ 0	$ 0	0
Members' capital, preferred units, ending balance (in shares) at Jun. 30, 2021						0
Members' capital, senior priority units, ending balance (in shares) at Jun. 30, 2021							0
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2020		0	0
Stockholders' equity, beginning balance at Dec. 31, 2020	44,360	$ 0	$ 0	0					(24,916)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares for investor fee associated with successful completion of Merger	17,826
Issuance of warrants to advisor in connection with completion of Merger	8,779
Net loss	(3,099)
Stockholders' equity ending balance (in shares) at Sep. 30, 2021		0	38,667,705,000
Stockholders equity, ending balance at Sep. 30, 2021	205,802	$ 0	$ 4	233,813					(28,015)
Members' capital, common units, beginning balance (in shares) at Dec. 31, 2020					750,000
Members' capital, beginning balance at Dec. 31, 2020					$ 0	$ 39,074	$ 30,202	69,276
Members' capital, preferred units, beginning balance (in shares) at Dec. 31, 2020						39,228,000
Members' capital, senior priority units, beginning balance (in shares) at Dec. 31, 2020							10,000,000
Members' capital, common units, ending balance (in shares) at Sep. 30, 2021					0
Members' capital, ending balance at Sep. 30, 2021					$ 0	$ 0	$ 0	0
Members' capital, preferred units, ending balance (in shares) at Sep. 30, 2021						0
Members' capital, senior priority units, ending balance (in shares) at Sep. 30, 2021							0
Stockholders' equity, beginning balance (in shares) at Jun. 30, 2021		1,620,000,000	28,320,000,000
Stockholders' equity, beginning balance at Jun. 30, 2021	92,939	$ 1	$ 3	113,054					(20,119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs (in shares)			2,960,731,000
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs	91,588			91,588
Issuance of shares for investor fee associated with successful completion of Merger	17,826		$ 0	17,826
Issuance of shares for investor fee associated with successful completion of Merger (in shares)			562,174,000
Issuance of warrants to advisor in connection with completion of Merger	8,779			8,779
Conversion of preferred stock (in shares)		(1,620,000,000)	6,480,000,000
Conversion of preferred stock	0	$ (1)	$ 1
Shares issued upon exercise of warrants (in shares)			344,800,000
Shares issued upon exercise of warrants	2,155			2,155
Stock-based compensation expense	411			411
Net loss	(7,896)								(7,896)
Stockholders' equity ending balance (in shares) at Sep. 30, 2021		0	38,667,705,000
Stockholders equity, ending balance at Sep. 30, 2021	205,802	$ 0	$ 4	233,813					(28,015)
Members' capital, common units, beginning balance (in shares) at Jun. 30, 2021					0
Members' capital, beginning balance at Jun. 30, 2021					$ 0	$ 0	$ 0	0
Members' capital, preferred units, beginning balance (in shares) at Jun. 30, 2021						0
Members' capital, senior priority units, beginning balance (in shares) at Jun. 30, 2021							0
Members' capital, common units, ending balance (in shares) at Sep. 30, 2021					0
Members' capital, ending balance at Sep. 30, 2021					$ 0	$ 0	$ 0	$ 0
Members' capital, preferred units, ending balance (in shares) at Sep. 30, 2021						0
Members' capital, senior priority units, ending balance (in shares) at Sep. 30, 2021							0
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2021			40,865,336
Stockholders' equity, beginning balance at Dec. 31, 2021	212,423		$ 4	281,815					(69,396)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	362			362
Issuance of shares, net of issuance costs (in shares)			415,000
Issuance of shares, net of issuance costs	3,791			3,791
Restricted shares award issuance, net of withholdings (in shares)			82,601
Restricted shares award issuance, net of withholdings	(65)			(65)
Proceeds from stock options exercised (in shares)			334
Proceeds from stock options exercised	2			2
Foreign currency translation adjustment	(32)									(32)
Net loss	(429)								(429)
Stockholders' equity ending balance (in shares) at Mar. 31, 2022			41,363,271
Stockholders equity, ending balance at Mar. 31, 2022	216,052		$ 4	285,905					(69,825)	(32)
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2021			40,865,336
Stockholders' equity, beginning balance at Dec. 31, 2021	212,423		$ 4	281,815					(69,396)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares for investor fee associated with successful completion of Merger	0
Issuance of warrants to advisor in connection with completion of Merger	0
Net loss	(131,488)
Stockholders' equity ending balance (in shares) at Sep. 30, 2022			42,964,462
Stockholders equity, ending balance at Sep. 30, 2022	89,557		$ 4	290,576					(200,884)	(139)
Stockholders' equity, beginning balance (in shares) at Mar. 31, 2022			41,363,271
Stockholders' equity, beginning balance at Mar. 31, 2022	216,052		$ 4	285,905					(69,825)	(32)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	306			306
Issuance of shares, net of issuance costs (in shares)			553,587
Issuance of shares, net of issuance costs	2,078			2,078
Proceeds from stock options exercised (in shares)			1,962
Proceeds from stock options exercised	12			12
Foreign currency translation adjustment	(134)									(134)
Net loss	(107,882)								(107,882)
Stockholders' equity ending balance (in shares) at Jun. 30, 2022			41,918,820
Stockholders equity, ending balance at Jun. 30, 2022	110,432		$ 4	288,301					(177,707)	(166)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	361			361
Issuance of shares, net of issuance costs (in shares)			1,045,642
Issuance of shares, net of issuance costs	1,914			1,914
Foreign currency translation adjustment	27									27
Net loss	(23,177)								(23,177)
Stockholders' equity ending balance (in shares) at Sep. 30, 2022			42,964,462
Stockholders equity, ending balance at Sep. 30, 2022	$ 89,557		$ 4	$ 290,576					$ (200,884)	$ (139)

MERGER WITH SUPPORT.COM - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Operating income	$ (17,053)	$ (11,865)	$ (100,650)	$ (4,696)
Amortization expense	200	100	700	100
Support.Com Business Acquisition
Business Acquisition [Line Items]
Revenue	7,500		24,400
Operating income	1,000		4,300
Amortization expense	$ 200		$ 700
Transaction costs, before taxes		30,000		32,400
Transaction costs, after taxes		$ 24,500		$ 26,900