0001628280-25-015543 | 10-K | XBRL Viewer | Greenidge Generation Holdings INC

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SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION - Additional Prepaid Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid insurance	$ 1,279	$ 2,818
Electric deposits	$ 588	$ 0
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other assets	Prepaid expenses and other assets
Warrant Asset	$ 0	$ 477
Other prepaid expenses	750	569
Prepaid expenses and other assets	$ 2,617	$ 3,864

COVER PAGE - USD ($)	12 Months Ended
COVER PAGE - USD ($)	Dec. 31, 2024	Mar. 25, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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	590 Plant Road
Entity Address, City or Town	Dresden
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14441
City Area Code	315
Local Phone Number	536-2359
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 20,648,389
Documents Incorporated by Reference	Portions of the Registrant’s definitive proxy statement for its 2025 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K where indicated. The Registrant's definitive proxy statement will be filed with the Securities and Exchange Commission within 120 days after December 31, 2024.
Entity Central Index Key	0001844971
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
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		11,741,704
Senior Notes
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		2,733,394

DEBT

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

DEBT

The following table provides information on the Company's financing agreements:


$ in thousands						As of:
Note	Loan Date	Maturity Date	Interest Rate		Initial Financing	December 31, 2024		December 31, 2023










Senior Unsecured Notes	October 2021/December 2021	October 2026	8.5	%	72,200	68,541		72,200

Total Debt						68,541		72,200
Less: Debt discount and issue costs						(473)		(3,490)
Total debt at book value						68,068		68,710
Less: Current portion						—		—
Long-term debt, net of current portion						$	68,068	$	68,710

The Company incurred interest expense of $7.1 million and $12.7 million during the years ended December 31, 2024 and 2023, respectively, under the terms of these notes payable.

The following table details our interest expense related to the Senior Notes (in thousands):


	December 31, 2024		December 31, 2023
Contractual interest expense	$	6,108	$	10,048
Amortization of debt discount and issuance costs	974		2,611
Total interest expense	$	7,082	$	12,659

Senior Unsecured Notes

During the fourth quarter of 2021, the Company sold $72.2 million of 8.50% Senior Notes due October 2026 (the "Senior Notes") pursuant to the Company's registration statement on Form S-1. Interest on the Senior Notes is payable quarterly in arrears on January 31, April 30, July 31 and October 31 of each year to the holders of record at the close of business on the immediately preceding January 15, April 15, July 15 and October 15, respectively. The Senior Notes are senior unsecured obligations of the Company and rank equal in right of payment with the Company's existing and future senior unsecured indebtedness. The Senior Notes trade on the Nasdaq Global Select Market under the symbol "GREEL."

The Company may redeem the Senior Notes for cash in whole or in part at any time (i) on or after October 31, 2023 and prior to October 31, 2024, at a price equal to 102% of their principal amount, plus accrued and unpaid interest to, but excluding, the date of redemption, (ii) on or after October 31, 2024 and prior to October 31, 2025, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to, but excluding, the date of redemption, and (iii) on or after October 31, 2025 and prior to maturity, at a price equal to 100% of their principal amount, plus accrued and unpaid interest to, but excluding, the date of redemption. In addition, the Company may redeem the Senior Notes, in whole, but not in part, at any time at its option, at a redemption price equal to 100.5% of the principal amount plus accrued and unpaid interest to, but not including, the date of redemption, upon the occurrence of certain change of control events.

During the fourth quarter of 2024, the Company entered into privately negotiated exchange agreements, pursuant to which it issued an aggregate of 692,433 shares of the Company's Class A common stock with a fair value of $1.62 million in exchange for $3.66 million aggregate principal amount of its Senior Notes, the net of which was recorded as a premium to be amortized over the remaining term of the Senior Notes. The Company concluded the exchanges met the definition of a troubled debt restructuring under ASC 470-60, Troubled Debt Restructurings by Debtors, as the Company was experiencing financial difficulties and the creditors granted a concession. The future undiscounted cash flows of the Senior Notes after the exchanges exceeded the carrying value of the Senior Notes prior to the exchanges. As such, the carrying value of the Senior Notes was reduced by the fair value of the Class A common stock granted and no gain was recognized as a result of the exchanges.

Minimum Future Principal Payments

Minimum future principal payments on debt as of December 31, 2024 were as follows based on the terms of the debt at that date:


$ in thousands
2025	$	—
2026	68,541
2027	—
2028	—
Thereafter	—
Total	$	68,541

Fair Value Disclosure

The notional value and estimated fair value of the Company's debt totaled $68.5 million and $24.8 million, respectively at December 31, 2024 and $72.2 million and $29.3 million, respectively at December 31, 2023. The notional value does not include unamortized discounts and debt issuance costs of $0.5 million and $3.5 million at December 31, 2024 and 2023, respectively. The estimated fair value of the Bonds Payable, representing the fair value of the Senior Notes, was measured using quoted market prices at the reporting date. Such instruments were valued using Level 1 inputs.

- 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.

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+ Details

DIGITAL ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

DIGITAL ASSETS

The following table presents our bitcoin holdings as of December 31, 2024 and 2023 (in thousands, except bitcoin held):


	December 31,
Digital assets holdings	2024		2023
Number of bitcoin held	74.5		8.7
Carrying basis of bitcoin	$	5,523	$	347
Fair Value of bitcoin	$	6,950	$	369

The carrying basis represents the valuation of bitcoin at the time the Company earns the bitcoin through mining activities. The carrying amount for the 8.7 bitcoin held as of December 31, 2023 was determined on the "cost-less-impairment" basis prior to the adoption of ASU 2023-08.

The following table represents a reconciliation of the fair values of our digital assets (in thousands):


Digital assets:	Year Ended December 31, 2024
Beginning balance at fair value	$	369
Additions	19,061
Dispositions	(14,634)
Gain on digital assets	2,154
Ending balance	$	6,950

All additions of digital assets were the result of bitcoin generated by the Company's Cryptocurrency Mining operations. All dispositions of digital assets were the result of sales on the open market to fund Company operations.

The Company recognized realized gains on the sale of digital assets of $0.7 million for the year ended December 31, 2024.

The Company's bitcoin holdings are not subject to contractual sale restrictions. As of December 31, 2024, the Company held no other digital assets.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)					3 Months Ended		6 Months Ended	12 Months Ended
	Nov. 27, 2024 USD ($)	Sep. 24, 2024 shares	Apr. 26, 2024	Nov. 09, 2023 USD ($)	Mar. 28, 2025 USD ($) shares	Dec. 31, 2024 USD ($) shares	Mar. 25, 2025 USD ($) shares	Dec. 31, 2024 USD ($) segment shares	Dec. 31, 2023 USD ($)	Dec. 11, 2023	Dec. 31, 2021
Debt Instrument [Line Items]
Extinguishment of debt								$ 80,300,000
Number of operating segments \| segment								1
Number of reportable segments \| segment								1
Accounts receivable						$ 1,493,000		$ 1,493,000	$ 358,000
Percentage of annual emission expense and credit in the following year						50.00%		50.00%
Impairment of long-lived assets								$ 169,000	4,000,000
Impairment of equity securities								$ 869,000	0
Warrant term (in years)						1 year		1 year		1 year
Change in fair value of warrant asset								$ (477,000)	$ 0
Share based compensation arrangement, expiration period (in years)								10 years
Vesting period (in years)								3 years
Expected dividend yield			0.00%					0.00%	0.00%
Accumulated deficit						$ 389,737,000		$ 389,737,000	$ 369,974,000
Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Accumulated deficit									20,000.00
Discontinued Operations, Disposed of by Sale \| South Carolina Datacenter
Debt Instrument [Line Items]
Cash acquired from disposal	$ 12,100,000			$ 4,500,000
Disposal group, including discontinued operation, consideration from sale, profit participation percentage	8.00%
Revision of Prior Period, Accounting Standards Update, Adjustment \| Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Accumulated deficit						(22,000)		(22,000)	0
Cost of Sales
Debt Instrument [Line Items]
Emissions Expense								$ 8,700,000	$ 6,500,000
Power and capacity
Debt Instrument [Line Items]
Revenue, payment period (within)								7 days
Cryptocurrency mining
Debt Instrument [Line Items]
Accounts receivable						0		$ 0
Senior Unsecured Notes \| Senior Notes
Debt Instrument [Line Items]
Debt exchanged						$ 3,660,000		$ 3,660,000
Interest rate (as percent)						8.50%		8.50%			8.50%
Exchange Agreement
Debt Instrument [Line Items]
Number of shares issued in transaction (in shares) \| shares						692,433
Common Stock Purchase Agreement
Debt Instrument [Line Items]
Number of shares issued in transaction (in shares) \| shares		7,300,000						1,595,855
Net proceeds received								$ 4,300,000
Subsequent Event \| Senior Unsecured Notes \| Senior Notes
Debt Instrument [Line Items]
Debt exchanged					$ 1,800,000
Interest rate (as percent)					8.50%
Subsequent Event \| Common Stock Purchase Agreement
Debt Instrument [Line Items]
Number of shares issued in transaction (in shares) \| shares							1,595,855
Net proceeds received							$ 4,300,000
Subsequent Event \| Debt Exchange Agreements
Debt Instrument [Line Items]
Number of shares issued in transaction (in shares) \| shares					643,456

CONCENTRATIONS	12 Months Ended
CONCENTRATIONS	Dec. 31, 2024
Risks and Uncertainties [Abstract]
CONCENTRATIONS	CONCENTRATIONS The Company has a single hosting services customer that accounted for 50% and 56% of the company's revenue for the year ended December 31, 2024 and 2023, respectively. For the Company's self-mining 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 at any time. Revenue from one of the Company’s pool operator customers accounted for approximately 32% and 33% of total revenue for the year ended December 31, 2024, and 2023, respectively. The Company has one major power customer, NYISO, that accounted for 18% and 9% of its revenue for the years ended December 31, 2024 and 2023, respectively. The Company has one natural gas vendor that accounted for approximately 37% and 27% of cost of revenue for the years ended December 31, 2024 and 2023, respectively. The Company previously had one major provider of hosting services for its self-mining operation that accounted for approximately 9% and 18% of cost of revenue for the year ended December 31, 2024 and 2023. During the year ended December 31, 2024, the contract with the Company’s major provider of hosting services for its self-mining operation was terminated.

FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets Measured On Recurring Basis and Fair Value Hierarchy

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value (in thousands):


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and current other assets:
Warrant asset	$	—	$	—	$	477	$	477

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Digital assets	$	6,950	$	—	$	—	$	6,950

Summary of Assumptions for Valuation of Warrants

The following table provides quantitative information regarding the Level 3 fair value inputs (see Note 6, "Stockholders' Deficit" for additional information):


	December 31, 2023
Stock price	$	4.83
Risk-free interest rate	5.14		%
Volatility	172.64		%
Remaining term (in years)	1.00
Expected dividend yield	—		%

STOCKHOLDERS’ DEFICIT (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Summary of Warrant Activity

The following table summarizes the Company's warrant activity:


	Number of warrants	Weighted Average Exercise Price
Warrants outstanding at December 31, 2023	180,000	$7.00
Issued	2,070,710	3.20
Exercised	810,205	0.00
Expired	180,000	7.00
Warrants outstanding at December 31, 2024	1,260,505	$5.25

The following table summarizes information about warrants outstanding at December 31, 2024:

Number of Warrants Outstanding

Number of Warrants Exercisable

Exercise Price

Expiration Date

February 2024 Warrants

1,260,505

$5.25

August 14, 2029

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Income before Income Tax, Domestic and Foreign

The components of loss from continuing operations before the benefit from income taxes are as follows:


	For the Year Ended December 31,
$ in thousands	2024		2023
Domestic	$	(19,854)	$	(29,039)
Foreign	—		—
Total	$	(19,854)	$	(29,039)

Summary of Components of Provision (Benefit) Income Taxes

The components of the benefit from income taxes from continuing operations consist of the following:


	For the Year Ended December 31,
$ in thousands	2024		2023
Current tax provision:
Federal	$	—	$	—
State	(69)		—
Foreign	—		—
Total current tax benefit	(69)		—
Deferred tax provision:
Federal	—		—
State	—		—
Foreign	—		—
Total deferred tax provision	—		—
Total benefit from income taxes	$	(69)	$	—

Summary of Effective Income Tax Rate Reconciliation

A reconciliation of the amounts at U.S. federal statutory tax rate to the Company’s effective tax rate for continuing operations is as follows:


	For the Year Ended December 31,
$ in thousands	2024		2023
Benefit at federal statutory rate	$	(4,170)	$	(6,248)
State income taxes, net of federal tax benefits	(301)		—
Change in valuation allowance	4,430		(13,002)
Other, net	(28)		19,250
Benefit from income taxes	$	(69)	$	—

Summary of Components of Deferred Tax Assets and Liabilities

Deferred income taxes are provided for the tax effect of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. Significant components of the Company’s deferred tax assets (liabilities) are as follows:


	As of December 31,
$ in thousands	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	38,263	$	40,132
Intangibles	656		960
Stock-based compensation	765		740
Capitalized costs	6,179		7,484
Interest Expense Limitation Carryforward	8,024		7,035
Environmental liabilities	4,184		4,492
Fixed Assets	594		—
Other	4,085		3,908
Gross deferred tax assets	62,750		64,751
Less: valuation allowance	(62,285)		(63,681)
Deferred tax assets, net	465		1,070

Deferred tax liabilities:
Investment in partnership	—		—
Property and equipment	—		(1,070)
Other	(465)		—
Deferred tax liabilities	(465)		(1,070)
Total net deferred tax assets	$	—	$	—

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

EQUITY BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Unvested Restricted Common Stock Unit Awards Activity

The Company’s unvested RSA and RSU award activity for the year ended December 31, 2024 is summarized below:


	RSAs & RSUs	Weighted Average Grant Date Fair Value
Unvested at December 31, 2023	9,116	$	62.99
Granted	392,028	$	3.88
Vested	(265,451)	$	6.85
Forfeited	(4,346)	$	3.74
Unvested at December 31, 2024	131,347	$	3.31

Summary of Stock Options Activity

The Company’s stock options activity for the year ended December 31, 2024 is summarized below:


	Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2023	458,982	$	16.59	-
Granted	25,000	$	3.00

Forfeited	(266)	$	62.50
Expired	(1,224)	$	63.52
Outstanding at December 31, 2024	482,492	$	15.75	7.9	$	—
Exercisable as of December 31, 2024	335,316	$	19.07	7.6	$	—

Summary of Weighted Average Assumptions Relating to the Valuation of Stock Options

The weighted average assumptions relating to the valuation of stock options granted for the year ended December 31, 2024 and 2023 were as follows:


	2024			2023
Weighted average exercise price of options granted	$	3.00		$	4.94
Expected volatility	109		%	211		%
Expected term (years)	5.6			10.0
Risk-free interest rate	4.5		%	4.5		%
Expected dividend yield	0.0		%	0.0		%

Debt - Schedule of Interest Expense (Details) - Senior Notes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Contractual interest expense	$ 6,108	$ 10,048
Amortization of debt discount and issuance costs	974	2,611
Total interest expense	$ 7,082	$ 12,659

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

LOSS PER SHARE - Basic Earnings and Diluted per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Numerator
Net loss from continuing operations	$ (19,785)	$ (29,039)
Loss from discontinued operations, net of tax	0	(471)
Net loss, basic	(19,785)	(29,510)
Net loss, diluted	$ (19,785)	$ (29,510)
Denominator
Basic weighted average shares outstanding (in shares)	10,504,000	6,660,000
Effect of dilutive securities (in shares)	0	0
Diluted weighted average shares outstanding (in shares)	10,504,000	6,660,000
Net loss per share, basic and diluted:
Net loss per share from continuing operations, basic (in dollars per share)	$ (1.88)	$ (4.36)
Net loss per share from continuing operations, diluted (in dollars per share)	(1.88)	(4.36)
Loss per share from discontinued operations, basic (in dollars per share)	0	(0.07)
Loss per diluted share from discontinued operations (in dollars per share)	0	(0.07)
Net loss per share, basic (in dollars per share)	(1.88)	(4.43)
Net loss per share, diluted (in dollars per share)	$ (1.88)	$ (4.43)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Property and Equipment, Net


Asset Class			Estimated Useful Lives
Plant infrastructure			10 years
Miners			3 years
Miner facility infrastructure			10 years

Equipment			5 years
Software			3 years

Property and equipment, net consisted of the following:


$ in thousands	Estimated Useful Lives	December 31, 2024		December 31, 2023
Plant infrastructure	10 years	$	1,522	$	1,367
Miners	3 years	36,182		32,195
Miner facility infrastructure	10 years	13,227		8,154
Land	N/A	1,952		7,679
Equipment	5 years	45		45


Construction in process	N/A	1,834		6,229

		54,762		55,669
Less: Accumulated depreciation		(24,463)		(10,574)
		$	30,299	$	45,095

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Equity Interest Payment Agreement The Company entered into an Equity Interest Payment Agreement as of January 24, 2025, that as consideration for Atlas' continued credit support with respect to the letters of credit mentioned in Related Party Transactions totaling $8.6 million, the Company shall pay interest at a rate of 8.5% per annum. The interest will be calculated on a per diem basis based on the number of days in the applicable measurement period, which Interest Payments shall be net of any interest otherwise actually received by Atlas from the issuing bank. Payments will be made by issuing Class A common stock to Atlas, with the total cumulative shares not to exceed 19.99% of the sum of the number of Class A Shares and shares of Class B common stock. Subsequent payments will then be made in cash. In connection with the Equity Interest Payment Agreement, the Company agreed to pay, by issuing shares of its Class A common stock, a letter of credit extension payment as further consideration for Atlas to enter into the Equity Interest Payment Agreement and maintain the letters of credit. On January 29, 2025, the Company issued 752,742 shares of Class A common stock to settle the letter of credit extension payment. Delisting Notice On March 26, 2025, the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based on the staff’s review of the market value of publicly held shares (the “MVPHS”) of the Company’s Class A common stock, for 30 consecutive business days, the Company no longer complied with Nasdaq’s minimum MVPHS requirement of at least $15,000,000 for continued listing on The Nasdaq Global Select Market. The notice provided that the Company had 180 days, or until September 22, 2025, to regain compliance with the minimum MVPHS requirement for 10 consecutive business days. Debt Exchange Agreements From January 1, 2025 through the date of this filing, the Company entered into privately negotiated exchange agreements, pursuant to which it issued an aggregate of 643,456 shares of the Company's Class A common stock, in exchange for $1.8 million aggregate principal amount of its 8.50% Senior Notes due October 2026.

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 38,263	$ 40,132
Intangibles	656	960
Stock-based compensation	765	740
Capitalized costs	6,179	7,484
Interest Expense Limitation Carryforward	8,024	7,035
Environmental liabilities	4,184	4,492
Fixed Assets	594	0
Other	4,085	3,908
Gross deferred tax assets	62,750	64,751
Less: valuation allowance	(62,285)	(63,681)
Deferred tax assets, net	465	1,070
Deferred tax liabilities:
Investment in partnership	0	0
Property and equipment	0	(1,070)
Other	(465)	0
Deferred tax liabilities	(465)	(1,070)
Total net deferred tax assets	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents, including restricted cash	$ 8,619	$ 13,312
Digital assets	6,950
Digital assets		347
Accounts receivable	1,493	358
Prepaid expenses and current other assets	2,617	3,864
Emissions and carbon offset credits	7,124	5,694
Income tax receivable	0	857
Total current assets	26,803	24,432
LONG-TERM ASSETS:
Property and equipment, net	30,299	45,095
Other long-term assets	569	1,652
Long-term assets held for sale	7,184	0
Total assets	64,855	71,179
CURRENT LIABILITIES:
Accounts payable	3,850	3,495
Accrued emissions expense	8,668	10,520
Accrued expenses	4,232	6,116
Short-term environmental liability	250	363
Contract liability	2,339	0
Current liabilities held for sale	0	483
Total current liabilities	19,339	20,977
LONG-TERM LIABILITIES:
Long-term debt, net of deferred financing fees	68,068	68,710
Environmental liabilities	30,432	29,866
Other long-term liabilities	2,770	2,650
Total liabilities	120,609	122,203
COMMITMENTS AND CONTINGENCIES (NOTE 10)
STOCKHOLDERS' DEFICIT:
Preferred stock, par value $0.0001, 20,000,000 shares authorized, none outstanding	0	0
Common stock, par value $0.0001, 500,000,000 shares authorized, 13,025,627 and 9,131,252 shares issued and outstanding as of December 31, 2024 and 2023, respectively	1	1
Cumulative translation adjustment	(348)	(345)
Additional paid-in capital	334,330	319,992
Common stock subscription receivable	0	(698)
Accumulated deficit	(389,737)	(369,974)
Total stockholders' deficit	(55,754)	(51,024)
Total liabilities and stockholders' deficit	$ 64,855	$ 71,179

LOSS PER SHARE

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

LOSS PER SHARE

The Company calculates basic net loss per share by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. The diluted net loss 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 and diluted net loss per share of common stock (In thousands, except per share data):


	For the Year Ended December 31,
	2024		2023
Numerator
Net loss from continuing operations	$	(19,785)	$	(29,039)
Loss from discontinued operations, net of tax	—		(471)
Net loss	$	(19,785)	$	(29,510)

Denominator
Basic weighted average shares outstanding	10,504		6,660
Effect of dilutive securities	—		—

Diluted weighted average shares outstanding	10,504		6,660

Net loss per share, basic and diluted:
Net loss per share from continuing operations, basic and diluted	$	(1.88)	$	(4.36)
Loss per share from discontinued operations, basic and diluted	—		(0.07)
Net loss per share, basic and diluted	$	(1.88)	$	(4.43)

For the years ended December 31, 2024 and 2023, because the Company was in a loss position, basic net loss per share is the same as diluted net loss per share, as the inclusion of the potential common shares would have been anti-dilutive.

The following table sets forth potential shares of common stock that are not included in the diluted net loss per share calculation above because to do so would be anti-dilutive for the period indicated (In thousands):


	December 31,
Anti-dilutive securities	2024	2023
Restricted stock awards	131	9
Common shares issuable upon exercise of stock options	482	459
Common shares issuable upon exercise of warrants	1,261	180
Total	1,874	648

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION - Noncash Investing and Financing Activities (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 11, 2023	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Accumulated deficit		$ (389,737)	$ (369,974)
Property and equipment purchases in accounts payable		108	813
Common stock issued for amendment fee to lender		0	1,000
Subscription receivable in exchange for issuance of common stock		0	698
Accrued interest added to debt principal		0	1,212
Common stock issued in exchange for equity interest	$ 900	0	869
Warrant issued in exchange for warrant asset		0	477
Common stock issued in exchange for reduction in debt		1,616	0
Right-of-use asset obtained in exchange for operating lease liability		156	0
Cash paid for interest		6,153	8,140
Cumulative Effect, Period of Adoption, Adjustment
Property Plant And Equipment [Line Items]
Accumulated deficit			(20)
Cumulative Effect, Period of Adoption, Adjustment \| Revision of Prior Period, Accounting Standards Update, Adjustment
Property Plant And Equipment [Line Items]
Accumulated deficit		22	0
Miners
Property Plant And Equipment [Line Items]
Exchange of property plant and equipment for reduction in debt		0	71,755
Miner Coupons
Property Plant And Equipment [Line Items]
Exchange of property plant and equipment for reduction in debt		0	1,152
Miner Deposits
Property Plant And Equipment [Line Items]
Exchange of property plant and equipment for reduction in debt		$ 0	$ 7,381

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Loss	$ (19,785)	$ (29,510)

- Definition

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

+ References

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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.13-02(a)(4)(i))
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

PROPERTY AND EQUIPMENT, NET - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 54,762	$ 55,669
Less: Accumulated depreciation	(24,463)	(10,574)
Property and equipment, net	$ 30,299	45,095
Plant infrastructure
Property Plant And Equipment [Line Items]
Estimated useful lives	10 years
Property, plant and equipment, gross	$ 1,522	1,367
Miners
Property Plant And Equipment [Line Items]
Estimated useful lives	3 years
Property, plant and equipment, gross	$ 36,182	32,195
Miner facility infrastructure
Property Plant And Equipment [Line Items]
Estimated useful lives	10 years
Property, plant and equipment, gross	$ 13,227	8,154
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 1,952	7,679
Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives	5 years
Property, plant and equipment, gross	$ 45	45
Construction in process
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 1,834	$ 6,229

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT - USD ($) $ in Thousands	Total	Securities Purchase Agreement	Revision of Prior Period, Accounting Standards Update, Adjustment	Common Stock	Common Stock Securities Purchase Agreement	Additional Paid-In Capital	Additional Paid-In Capital Securities Purchase Agreement	Subscription Receivable	Cumulative Translation Adjustment	Accumulated Deficit	Accumulated Deficit Revision of Prior Period, Accounting Standards Update, Adjustment
Beginning balance (in shares) at Dec. 31, 2022				4,625,278
Beginning balance at Dec. 31, 2022	$ (47,047)			$ 0		$ 293,774		$ 0	$ (357)	$ (340,464)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,344					2,344
Issuance of shares, net of issuance costs (in shares)				4,144,419
Issuance of shares, net of issuance costs	20,831			$ 1		21,528		(698)
Reverse stock split fractional share adjustment (in shares)				34,538
Restricted shares award issuance, net of withholdings (in shares)				13,684
Issuance of shares for amendment fee associated with debt modification (in shares)				133,333
Issuance of shares for amendment fee associated with debt modification	1,000					1,000
Shares issued in connection with equity exchange agreement (in shares)				180,000
Shares issues in connection with equity exchange agreement	869					869
Issuance of warrants in connection with equity exchange agreement	477					477
Foreign currency translation adjustment	12								12
Net loss	(29,510)									(29,510)
Ending balance (in shares) at Dec. 31, 2023				9,131,252
Ending balance at Dec. 31, 2023	(51,024)			$ 1		319,992		(698)	(345)	(369,974)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	2,182					2,182
Issuance of shares, net of issuance costs (in shares)				1,641,124	450,300
Issuance of shares, net of issuance costs	5,239	$ 1,133		$ 0		4,541	$ 1,133	698
Restricted shares award issuance, net of withholdings (in shares)				300,313
Shares issued in connection with equity exchange agreement (in shares)				810,205
Shares issues in connection with equity exchange agreement	0
Issuance of warrants in connection with equity exchange agreement	4,866					4,866
Issuance of shares in connection with Debt Exchange Agreements (in shares)				692,433
Issuance of shares in connection with Debt Exchange Agreements	1,616					1,616
Foreign currency translation adjustment	(3)								(3)
Net loss	(19,785)									(19,785)
Ending balance (in shares) at Dec. 31, 2024				13,025,627
Ending balance at Dec. 31, 2024	$ (55,754)		$ 22	$ 1		$ 334,330		$ 0	$ (348)	$ (389,737)	$ 22
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2023-08 [Member]

EQUITY BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

EQUITY BASED COMPENSATION

Equity Incentive Plans

In February 2021, Greenidge adopted an equity incentive plan and reserved 383,111 shares of Class A common stock for issuance under the plan (as amended and restated, the “2021 Equity Plan”), applicable to employees and non-employee directors. In April 2023, the stockholders approved an amendment and restatement of the 2021 Equity Plan to increase the maximum aggregate number of shares of Class A common stock that may be issued for all purposes under the Plan by 500,000 shares of Class A common stock from 383,111 to 883,111 shares of Class A common stock and to remove the counting of shares of Class A common stock granted in connection with awards other than stock options and stock appreciation rights against the total number of shares available under the Plan as two shares of Class A common stock for every one share of Class A common stock granted in connection with such award. In November 2024, the stockholders approved an amendment and restatement of the 2021 Equity Plan to increase the maximum aggregate number of shares

of Class A common stock that may be issued for all purposes under the 2021 Equity Plan by 700,000 shares of Class A common stock from 883,111 to 1,583,111 shares of Class A common stock. In October 2022, the Company registered 307,684 shares of Class A common stock, outside of the 2021 Equity Plan, that were reserved for issuance upon the vesting and exercise of non-qualified stock option inducement grants.

RSAs and RSUs

During the year ended December 31, 2024, the Company awarded 392,028 restricted stock awards ("RSAs") and restricted stock units ("RSUs") under the 2021 Equity Plan. RSAs and RSUs are generally granted with an eligible vesting range from upon grant to over a two-year period.

The Company’s unvested RSA and RSU award activity for the year ended December 31, 2024 is summarized below:


	RSAs & RSUs	Weighted Average Grant Date Fair Value
Unvested at December 31, 2023	9,116	$	62.99
Granted	392,028	$	3.88
Vested	(265,451)	$	6.85
Forfeited	(4,346)	$	3.74
Unvested at December 31, 2024	131,347	$	3.31

The value of RSA and RSU grants is measured based on their fair market value on the date of grant and amortized over their requisite service periods. The fair market value of the awards granted totaled $1.5 million and $0.2 million during the years ended December 31, 2024 and 2023, respectively. There was $0.3 million of total unrecognized compensation cost related to unvested restricted stock rights as of December 31, 2024, which is expected to be recognized over a remaining weighted-average vesting period of less than 1 year.

Common Stock Options

During the year ended December 31, 2024, the Company awarded 25,000 options that vest over a two-year period at a rate of 50% per year and are subject to forfeiture restrictions which lapse over time. These were issued from the 2021 Equity Plan. Options granted to officers, employees and consultants expire ten years after the date of grant.

The Company’s stock options activity for the year ended December 31, 2024 is summarized below:


	Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2023	458,982	$	16.59	-
Granted	25,000	$	3.00

Forfeited	(266)	$	62.50
Expired	(1,224)	$	63.52
Outstanding at December 31, 2024	482,492	$	15.75	7.9	$	—
Exercisable as of December 31, 2024	335,316	$	19.07	7.6	$	—

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. During the year ended December 31, 2024 and 2023, the fair market value of the awards granted totaled $0.1 million and $0.5 million, respectively. As of December 31, 2024, there was $0.8 million of total unrecognized compensation cost related to unvested options, which is expected to be recognized over a remaining weighted-average vesting period of approximately 1.4 years.

We determine the fair value of each grant using the Black-Scholes-Merton option pricing model. The weighted average assumptions relating to the valuation of stock options granted for the year ended December 31, 2024 and 2023 were as follows:


	2024			2023
Weighted average exercise price of options granted	$	3.00		$	4.94
Expected volatility	109		%	211		%
Expected term (years)	5.6			10.0
Risk-free interest rate	4.5		%	4.5		%
Expected dividend yield	0.0		%	0.0		%

On April 26, 2024, the Company entered into a Release Agreement with a former executive officer to allow for an acceleration of vesting of remaining unvested options and extended post termination exercise period. The stock option modification resulted in $0.2 million of incremental compensation cost during the year ended December 31, 2024, which was calculated using the Black-Scholes option-pricing model. The following assumptions were used for the Black-Scholes valuation: risk-free rate of 4.67%, expected life of 8.46 years, exercise price of $13.20, annualized volatility of 133.96%, and a dividend rate of 0.0%.

Stock-based Compensation

The Company recognized stock-based compensation expense of $2.2 million and $2.3 million during the years ended December 31, 2024 and 2023, respectively. Stock-based compensation expense is included in selling, general and administrative expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss.

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Contract with Customer, Contract Asset, Contract Liability, and Receivable

Changes in the Contract liability balance for the year ended December 31, 2024 are as follows:


$ in thousands	Contract Liabilities
Balance as of December 31, 2023	$	—
Revenue recognized	—
Deposits received	2,339
Balance as of December 31, 2024	$	2,339

Summary of Prepaid Expenses and Other Assets

The following table provides additional details of Prepaid expenses and other assets:


	As of December 31,
$ in thousands	2024		2023
Prepaid insurance	$	1,279	$	2,818
Electric deposits	588		—
Warrant Asset	—		477
Other prepaid expenses	750		569
Prepaid expenses and other assets	$	2,617	$	3,864

Summary of Noncash Investing and Financing Activities

The Company had the following noncash investing and financing activities:


	For the year ended December 31,
$ in thousands	2024		2023
Cumulative-effect adjustment due to the adoption of ASU 2023-08	$	22	$	—
Property and equipment purchases in accounts payable	108		813
Common stock issued for amendment fee to lender	—		1,000
Subscription receivable in exchange for issuance of common stock	—		698
Exchange of assets for reduction in debt	—		71,755
Exchange of coupons for reduction in debt	—		1,152
Exchange of equipment deposits for reduction in debt	—		7,381
Accrued interest added to debt principal	—		1,212
Common stock issued in exchange for equity interest	—		869
Warrant issued in exchange for warrant asset	—		477
Common stock issued in exchange for reduction in debt	1,616		—
Right-of-use asset obtained in exchange for operating lease liability	156		—

The following table provides supplemental cash flow information for cash paid for interest:


	For the Year Ended December 31,
$ in thousands	2024		2023
Cash paid for interest	$	6,153	$	8,140

DIGITAL ASSETS - Bitcoin Held (Details) $ in Thousands	Dec. 31, 2024 USD ($) bitcoin	Dec. 31, 2023 USD ($) bitcoin
Goodwill and Intangible Assets Disclosure [Abstract]
Number of bitcoin held \| bitcoin	74.5	8.7
Carrying basis of bitcoin	$ 5,523	$ 347
Fair Value of bitcoin	$ 6,950	$ 369

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Any reference in these Notes to applicable guidance refers to U.S. GAAP as found in U.S. Accounting Standards Codification ("ASC") and Accounting Standards Update ("ASU") of the Financial Accounting Standards Board ("FASB").

The consolidated financial statements reflect the Company's accounts and operations and those of its subsidiaries. All significant intercompany accounts and transactions have been eliminated.

Liquidity

In accordance with the Financial Accounting Standards Board ("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 consolidated financial statements have been prepared assuming that it will continue as a going concern. The Company has historically incurred operating losses and negative cash flows from operations. These losses were primarily a result of challenging bitcoin mining economics starting in 2022 when energy prices increased and the prices of bitcoin went through a period of significant decline. The economics of bitcoin mining have since been positively impacted through 2024 by a recovery in the price of bitcoin and a reduction in energy prices, and negatively offset by increased mining difficulty and by the halving which occurred on April 19, 2024 and reduced the rewards distributed to miners. The existence of these factors beginning in 2022 raised substantial doubt about the Company’s ability to continue as a going concern. However, the Company believes this substantial doubt is alleviated by management’s plans which includes our existing cash and cash equivalents, together with digital assets, cash generated from operations and the proceeds from the planned sale of the South Carolina land held for sale, will be sufficient to fund its operations and satisfy its current obligations through the next twelve months.

Management has taken certain actions since 2022 to improve the Company’s liquidity including the sale of assets, the proceeds of which were used to extinguish $80.3 million of debt, and significant restructuring activities to materially reduce selling, general and administrative expenses. On November 27, 2024, we entered into a definitive agreement to sell the remaining South Carolina land for $12.1 million in cash and an 8% profit participation interest in the property’s planned data center. The closing of the sale is in process, and we expect it to close in 2025.

However, the Company’s projected operating cash flows are not sufficient in the long-term to meet the existing long-term debt obligations.

The Company is considering various items to address the long-term debt obligations, including the retirement or purchase of our outstanding debt through cash purchases and/or exchanges for equity or debt, in open-market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any will be upon such terms

and at such prices as we may determine, and will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material and to the extent equity is used, dilutive. During the twelve months ended December 31, 2024, the Company entered into privately negotiated exchange agreements, pursuant to which it issued an aggregate of 692,433 shares of the Company's Class A common stock, in exchange for $3.7 million aggregate principal amount of its 8.50% Senior Notes due October 2026. From January 1, 2025 through the date of this filing, the Company entered into privately negotiated exchange agreements, pursuant to which it issued an aggregate of 643,456 shares of the Company's Class A common stock, in exchange for $1.8 million aggregate principal amount of its 8.50% Senior Notes due October 2026.

The Company may also raise additional funds through sales of equity under the Common Stock Purchase Agreement. For the twelve ended December 31, 2024, the Company issued 1,595,855 shares under the Common Stock Purchase Agreement for net proceeds of $4.3 million.

The Company’s operating cash flows are highly dependent on bitcoin mining economics commonly measured by hashprice. Increases in the price of bitcoin benefit the Company by increasing the amount of revenue earned for each bitcoin earned. Increases in the difficulty to mine a bitcoin adversely affect the Company by decreasing the number of bitcoin earned. Increases in the costs of electricity, natural gas, and emissions credits adversely affect the Company by increasing operating costs. Depending on the Company’s assumptions regarding the bitcoin hashprice and energy price inputs, the estimates of the amounts of required liquidity vary significantly. There can be no assurances that these assumptions used to estimate liquidity requirements and future cash burn rates will be correct, and the ability to be predictive is uncertain due to the limited ability to predict future bitcoin and energy prices. The Company’s forecast also anticipates proceeds from the South Carolina Facility classified as held for sale and any inability to close on a sale of that facility will further adversely impact the Company’s liquidity projections. Additionally, the inability to procure and comply with the permits and licenses required to operate our facilities, including the Title V Air Permit for the New York Facility, which is subject to ongoing litigation (see NOTE 10), may have an adverse impact on our ability to meet cash flow forecasts.

While the Company believes it will be successful in its efforts to improve liquidity, which will allow it to meet its financial commitments for at least the next twelve months, there can be no assurance that these efforts will be successful.

Use of estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods.

Actual results could differ from those estimates. Significant estimates made by management include, but are not limited to, estimates of the recoverability and useful lives of long-lived assets, stock-based compensation, current and deferred income tax assets and liabilities, and environmental liabilities.

Segment Reporting

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and in assessing performance. Greenidge operates as one operating and reporting segment. The Company’s datacenter operations are located in the United States, and the Company views these operations as one operating segment as the CODM reviews financial information on a consolidated basis in making decisions regarding resource allocations and assessing performance.

The Company generates revenue primarily by (1) earning bitcoin, with miners that are owned by the Company, as rewards and transaction fees for supporting the global bitcoin network and (2) providing hosting, power and technical support services to third-party owned bitcoin mining equipment. The Cryptocurrency Mining, Datacenter Hosting and Power Generation operations also sell surplus electricity generated by the Company's power plant, and not consumed in cryptocurrency mining and datacenter hosting 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.

Discontinued Operations

The Company deems it appropriate to classify a component as a discontinued operation if the related disposal group meets all the following criteria: (1) the disposal group is a component of the Company; (2) the component meets the held-for-sale criteria; and (3) the disposal of the component represents a strategic shift that has a major effect on the Company's operations and financial results.

Cash and Cash Equivalents

All liquid instruments with an original maturity, at the date of purchase, of 90 days or less are classified as cash equivalents. Cash equivalents consist primarily of money market funds, certificates of deposit, commercial paper, corporate notes and bonds, and U.S. government agency securities. The Company’s interest income on cash and cash equivalents is included in Interest expense, net in the Consolidated Statements of Operations and Comprehensive Loss.

Digital Assets

Digital assets are comprised of bitcoin earned as noncash consideration in exchange for providing hash computations for a mining pool, which are accounted for in connection with the Company’s revenue recognition policy previously disclosed. Digital assets are included in current assets in the consolidated balance sheets due to the Company’s ability to sell it in a highly liquid marketplace and because the Company reasonably expects to liquidate its digital assets to support operations within the next 12 months.

The Company adopted ASU 2023-08 during the second quarter of 2024 with an effective date of January 1, 2024. As a result of adopting ASU 2023-08, the Company measures digital assets at fair value as of each reporting period based on UTC closing prices at period-end on the active trading platform that the Company normally transacts and has determined is its principal market for bitcoin.

Gains and losses resulting from remeasurements are included within (Gain) loss on digital assets in the consolidated statements of operations and comprehensive loss. Gains and losses resulting from the sale of bitcoin, measured as the difference between the cash proceeds and the carrying basis of bitcoin as determined on a first-in-first-out basis, are also included within (Gain) loss on digital assets in the consolidated statements of operations and comprehensive loss.

Digital assets received by the Company as noncash consideration are included as an adjustment to reconcile net loss to cash used in operating activities on the consolidated statements of cash flows. In August 2024, the Company announced its new bitcoin self-mining retention strategy, which enables the Company to accumulate bitcoin from its owned miners. Proceeds from the sale of bitcoin that occur nearly immediately after receipt are included within operating activities on the consolidated statements of cash flows. To the extent the Company holds bitcoin for more than a few days, proceeds from the sale of bitcoin are included within investing activities on the consolidated statements of cash flows.

Prior to the adoption of ASU 2023-08, the Company accounted for digital assets as intangible assets with an indefinite useful life, which are not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. The Company performed an analysis each period to identify whether events or changes in circumstances, principally decreases in the quoted prices on active exchanges, indicated that it was more likely than not that its digital assets were impaired. Digital assets were considered impaired if the carrying value was greater than the lowest intraday quoted price at any time during the period. For quoted prices, the Company used daily exchange data from its principal market. Subsequent reversal of impairment losses was not permitted.

Accounts Receivable

The Company provides credit in the normal course of business to its power customer, the NYISO, and hosting customer, NYDIG. The NYISO makes payments, depending on the type of revenue, within seven days of usage or seven days of month end. The NYDIG Hosting Agreement requires advance payment for estimated hosting services. The balance based on actual results is due upon receipt.

Emissions Expense and Credits

The Company participates in the Regional Greenhouse Gas Initiative ("RGGI"), which requires, by law, that the Company remit credits to offset 50% of the Company’s annual emission expense in the following year, for each of the years in the three-year control period (January 1, 2024 to December 31, 2026). In March 2025, the Company surrendered the emissions allowance required for the first year of the current control period. The Company recognizes expense on a per ton basis, where one ton is equal to one RGGI credit.

Property and Equipment, net

Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the Company’s depreciable assets, as noted in the table below. Construction in process is comprised of assets which have not been placed into service and is not depreciated until the related assets are complete and ready for their intended use, at which time the cost is transferred to the appropriate property and equipment class. Land and miner deposits are not depreciated. Repairs and maintenance costs are expensed as incurred. See Note 4, "Property and Equipment, Net" for additional information.


Asset Class			Estimated Useful Lives
Plant infrastructure			10 years
Miners			3 years
Miner facility infrastructure			10 years

Equipment			5 years
Software			3 years

Valuation of Long-Lived Assets

Investments in Equity Securities

The Company owns common shares in a private company. The Company does not have control and does not have the ability to exercise significant influence over operating and financial policies of this entity. The investment does not have a readily determinable fair value and thus the investment is measured at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. Investments in equity securities are a component of Other long-term assets and gains (losses) on equity securities are recorded in Other income (expense) on the Consolidated Statements of Operations and Comprehensive Loss. The Company recognized a noncash impairment charge of $0.9 million for the year ended December 31, 2024. There was no

impairment charges recognized for the year ended December 31, 2023. See Note 6, "Stockholders' Deficit" for additional information.

Derivative Financial Instruments

The Company held an equity warrant asset in a private company that gave it the right to acquire common stock in the private company. The equity warrant asset contains net settlement terms, and, thus, the Company recorded it as a derivative. The equity warrant asset entitled the Company to purchase a specific number of shares of common stock at a specific price within a specific time period, in this case 1 year. The equity warrant asset contains an automatic exercise provision if the Company does not exercise prior to expiration, or provide notice of its intent not to exercise. Upon automatic exercise, the Company will receive a share count equal to the intrinsic value of the warrant divided by the share price. The equity warrant asset is recorded at fair value and is classified as a derivative asset, a component of prepaid expenses and other current assets. The asset was held for prospective investment gains and is not used to hedge any economic risks.

Any changes in fair value from the grant date fair value of the equity warrant asset classified as a derivative is recognized as an increase or decrease to Prepaid expenses and other current assets on the Consolidated Balance Sheets and as net gains or losses on derivative instruments, in Other income (expense) on the Consolidated Statements of Operations and Comprehensive Loss. The Company recognized a loss on the change in fair value of $0.5 million during the year ended December 31, 2024. There was no change in fair value of the equity warrant asset during the year ended December 31, 2023. See Note 6, "Stockholders' Deficit" for additional information.

Leases

The Company accounts for leases in accordance with ASC 842. The Company determines if an arrangement is or contains a lease at contract inception. The Company recognizes a right-of-use ("ROU") asset and a lease liability at the lease commencement date. The lease liability is initially measured at the present value of the unpaid lease payments at the lease commencement date and is subsequently measured at amortized cost using the effective interest method. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.

In calculating the ROU asset and related lease liability, the Company elected to combine lease and non-lease components. The Company excluded short-term leases having initial terms of 12 months or less as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term.

Lease payments included in the measurement of the lease liability comprise fixed payments. Variable lease payment amounts, such as increases in lease payments based on changes in index rates or usage, are not included in the measurement of the ROU asset or lease liability. These are expensed as incurred and recorded as variable lease expense. See Note 13, "Supplemental Balance Sheet and Cash Flow Information" for additional information.

Environmental Liability

Environmental liabilities are recognized in accordance with ASC 410-30, Asset Retirement and Environmental Obligations when the costs are probable and estimable. As of December 31, 2024, we have recognized environmental liabilities for a coal ash pond and landfill which were inherited due to the legacy coal operations at the Company's property in Torrey, New York. The Company determines the estimate by developing key assumptions to determine the expected cost of remediation. Estimates are based on various assumptions that are sensitive to changes including, but not limited to, closure and post-closure cost estimates, timing of expenditures, escalation factors, and requirements of granted permits.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. The core principle of the revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle:

•Step 1: Identify the contract, or contracts, with the customer;

•Step 2: Identify the performance obligations in the contract;

•Step 3: Determine the transaction price;

•Step 4: Allocate the transaction price to the performance obligations in the contract; and

•Step 5: Recognize revenue when, or as, the Company satisfies a performance obligation.

In order to identify the performance obligations in a contract with a customer, the Company must assess the promised goods or services in the contract and identify each promised good or service that is distinct. A performance obligation meets ASC 606’s definition of a "distinct" good or service (or bundle of goods or services) if both of the following criteria are met: The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (i.e., the good or service is capable of being distinct), and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (i.e., the promise to transfer the good or service is distinct within the context of the contract).

If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct.

The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. The consideration promised in a contract with a customer may include fixed amounts, variable amounts, or both. When determining the transaction price, an entity must consider the effects of all of the following:

•Variable consideration;

•Constraining estimates of variable consideration;

•The existence of a significant financing component in the contract;

•Noncash consideration; and

•Consideration payable to a customer.

Variable consideration is included in the transaction price only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. The transaction price allocated to each performance obligation is recognized when that performance obligation is satisfied, at a point in time or over time as appropriate.

The Company recognizes amounts prepaid by customers in excess of recognizable revenue as contract liabilities on the Consolidated Balance Sheets.

Cryptocurrency Mining Revenue

Greenidge has entered into digital asset mining pools by executing contracts with the mining pool operators to perform hash computations for a mining pool. The contracts are terminable at any time at no cost by either party and Greenidge’s enforceable right to compensation begins only when, and lasts as long as, Greenidge performs hash computations for the mining pool operator. In exchange for performing hash computations, Greenidge is entitled to a fractional share of the cryptocurrency award the mining pool operator theoretically receives less the mining pool fees. The agreements entered into with the pool operators pay out based on a Full-Pay-Per-Share (“FPPS”) payout formula, which is a conceptual formula that entitles Greenidge to consideration upon the provision of hash computations to the pool even if a block is not successfully placed by the pool operator. Revenue is measured as the value of the consideration received in the form of cryptocurrency from the pool operator, less the mining pool fees retained by the mining pool operator. Greenidge does not expect any material future changes in mining pool fee rates.

In exchange for performing hash computations for the mining pool, the Company is entitled to a fractional share of the cryptocurrency award the mining pool operator theoretically receives (less pool operator fees to the mining pool

operator which are netted as a reduction of the transaction price). Greenidge’s fractional share is based on the proportion of hash computations the Company performed for the mining pool operator to the total hash computations contributed by all miners in solving the current algorithm during the 24-hour period. Daily earnings calculated under the FPPS payout formula are calculated from midnight-to-midnight UTC time and are credited to pool members’ accounts at 1:00:00 A.M. UTC. The pool sends Greenidge’s cryptocurrency balance in the account to a digital wallet designated by the Company between 9:00 A.M. and 5:00 P.M. UTC time each day, which Greenidge automatically sells for cash within minutes of receipt, unless Greenidge decides to retain its newly earned bitcoin in connection with its bitcoin retention strategy.

The service of performing hash computations for the mining pool operators is an output of Greenidge’s ordinary activities and is the only performance obligation in Greenidge’s contracts with mining pool operators. The cryptocurrency that Greenidge receives as transaction consideration is noncash consideration, which Greenidge measures at fair value on the contract inception date at 0:00:00 UTC on the start date of the contract. The duration of each contract is 24 hours or less and provides the same rate of payment upon renewal. Since the pricing remains the same upon contract renewal, the contract does not provide the applicable mining pool operator with a material right that represents a separate performance obligation. The fair value is based on Greenidge’s primary exchange of the related cryptocurrency which is considered to be Coinbase. The consideration Greenidge earns is variable since it is based on the amount of hash computations provided by both Greenidge and the bitcoin network as a whole. The Company does not constrain this variable consideration because it is probable that a significant reversal in the amount of revenue recognized from the contract will not occur when the uncertainty is subsequently resolved and recognizes the non-cash consideration on the same day that control is transferred, which is the same day as contract inception.

Power and Capacity Revenue

Greenidge recognizes power revenue at a point in time when the electricity is delivered to the NYISO and its performance obligation is met. Greenidge recognizes revenue on capacity agreements over the life of the contract as its series of performance obligations are met as capacity to provide power is maintained.

Sales tax, value-added tax, and other taxes Greenidge collects concurrent with revenue-producing activities are excluded from revenue. Incidental contract costs that are not material in the context of the delivery of goods and services are recognized as expense. There is no significant financing component in these transactions.

Datacenter Hosting Revenue

The Company generates revenue from contracts with customers from providing hosting services to a single third-party customer. Hosting revenue is recognized as services are performed on a variable basis. The Company recognizes variable hosting revenue each month as the uncertainty related to the consideration is resolved, hosting services are provided to its customer, and its customer utilizes the hosting service (the customer simultaneously receives and consumes the benefits of the Company's performance). The Company's performance obligation related to these services is satisfied over time. The Company recognizes revenue for services that are performed on a consumption basis (the amount of electricity utilized by the customer) as well as through a fixed fee that is earned monthly and a profit-sharing component based on the net proceeds earned by the customer in the month from bitcoin mining activities. The Company bills its customer at the beginning of each month based on the anticipated consumption under the contract. Invoices are collected in the month of invoicing under the terms of the contract. The Company recognizes revenue based on actual consumption in the period.

Cryptocurrency Mining Cost of Revenue

Cost of revenue—cryptocurrency datacenter consists primarily of natural gas, emissions, hosting fees paid to third party hosting sites, payroll and benefits and other direct production costs associated with the megawatts generated for the digital mining operation.

Datacenter Hosting Cost of Revenue

Cost of revenue—datacenter hosting consists primarily of natural gas, emissions, payroll and benefits and other direct production costs associated with the megawatts generated for the datacenter hosting operation.

Power and Capacity Cost of Revenue

Cost of revenue—power and capacity consists primarily of natural gas, emissions, payroll and benefits and other direct production costs associated with the megawatts generated for the power produced by Greenidge and sold to the grid.

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist primarily of administrative payroll and benefits, business development costs, professional fees, and insurance.

Stock-Based Compensation

The Company accounts for share-based payment awards exchanged for services at the estimated grant date fair value of the award. Stock options issued under the Company’s equity incentive plans are granted with an exercise price equal to no less than the market price of the Company’s stock at the date of grant and expire up to ten years from the date of the grants. These options generally vest on the grant date or over a three-year period. The Company has elected to account for forfeitures of employee awards as they occur. Restricted stock units ("RSUs") issued under the Company's equity incentive plans are granted to employees and directors and vest over their requisite service period.

The Company estimates the fair value of the stock option grants using the Black-Scholes-Merton option pricing model and the assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgement. The fair value of RSUs is measured on the grant date based on the closing fair market value of the Company's common stock. Stock-based compensation is recognized on a straight-line basis over the requisite service period, net of actual forfeitures in the period.

Expected Term – The expected term of options represents the period that the Company’s stock-based awards are expected to be outstanding on the simplified method, which is the half-life from vesting to the end of its contractual term.

Expected Volatility – The Company estimates expected volatility using a blended volatility including historical volatility of the Company’s common stock and historical volatility of a peer group of publicly traded companies.

Risk-Free Interest Rate– The Company bases the risk-free interest rate on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent remaining term.

Expected Dividend – The Company has never declared or paid any cash dividends on its common shares and does not plan to pay cash dividends in the foreseeable future, and, therefore, uses an expected dividend yield of zero in its valuation models.

Income Taxes

The Company accounts for income taxes in accordance with FASB ASC Topic 740, Income Taxes. Deferred income tax assets and liabilities are determined based on the differences between financial statement carrying amounts and the tax basis of existing assets and liabilities. These differences are measured at the enacted tax rates that will be in effect when these differences reverse. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes.

A valuation allowance is required to be recognized if it is "more likely than not" that the deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future income, applicable tax planning strategies, and assessments of the current and future economic and business conditions.

The Company recognizes and measures tax positions taken or expected to be taken in its tax return based on their technical merit and assesses the likelihood that the positions will be sustained upon examination based on the facts, circumstances and information available at the end of each period. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as part of the provision for income taxes.

Income (Loss) Per Share

Basic net income (loss) per common share attributable to common shareholders is calculated by dividing net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per common share attributable to common shareholders is calculated by dividing net income (loss) attributable to common shareholders by the diluted weighted average number of common shares outstanding for the period. The Company used the weighted average method in determining earnings per share.

Fair Value Measurements

The Company determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy. The basis for fair value measurements for each level within the hierarchy is described below, with Level 1 having the highest priority and Level 3 having the lowest. The three levels of the fair value hierarchy are as follows:

•Level 1 – inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 2 – inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in non-active markets; and model-derived valuations whose inputs are observable or whose significant valuation drivers are observable.

•Level 3 – inputs to valuation models are unobservable and/or reflect the Company’s market assumptions.

The fair value hierarchy is based on maximizing the use of observable inputs and minimizing the use of unobservable inputs when measuring fair value. Classification within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company transfers the fair value of an asset or liability between levels of the fair value hierarchy at the end of the reporting period during which a significant change in the inputs used to determine the fair value has occurred.

Recent Accounting Pronouncements Not Yet Adopted and Recent Accounting Pronouncements, Adopted

Recent Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosure. ASU 2023-09 mostly requires, on an annual basis, disclosure of specific categories in an entity’s effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. The incremental disclosures may be presented on a prospective or retrospective basis. The ASU is effective for fiscal years beginning after December 15, 2024 with early adoption permitted. The Company is currently evaluating the impact the adoption of this ASU will have on its consolidated financial statements and disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires additional disclosures of certain costs and expenses specified in the updated guidance, to provide enhanced transparency into aggregate amounts presented on the Consolidated Statements of Operations and Comprehensive Loss. In January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which clarifies the effective date of ASU 2024-03. This guidance becomes effective for annual periods beginning after December 15, 2026, and interim periods within annual periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact on its disclosures.

In November 2024, the FASB issued ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. ASU 2024-04 clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted as an induced conversion. This guidance becomes effective for annual reporting periods beginning after December 15, 2025, and interim periods within those annual reporting periods. Early adoption is permitted. The Company expects this guidance will have no impact to its Consolidated Financial Statements.

Recent Accounting Pronouncements Adopted

In December 2023, the FASB issued ASU No. 2023-08, Intangibles - Goodwill and Other - Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets ("ASU 2023-08"), which is intended to improve the accounting for and disclosure of crypto assets. The amendments require crypto assets meeting the criteria to be recognized at fair value with changes recognized in net income each reporting period. Upon adoption, a cumulative-effect adjustment is made to the opening balance of retained earnings as of the beginning of the annual reporting period of adoption. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2024, with early adoption permitted. The Company elected to adopt ASU 2023-08 effective January 1, 2024. As a result of adoption, the Company recorded a cumulative-effect adjustment to its Accumulated deficit balance of approximately $0.02 million as of January 1, 2024, as a result of recognizing its bitcoin held as of January 1, 2024, at fair value.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition of other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 and is required to be applied retrospectively. All disclosure requirements under ASU 2023-07 are also required for public entities with a single reportable segment. The adopted this guidance in the current year and applied it retrospectively to all periods presented in its Consolidated Financial Statements. See Note 16, "Segment Reporting" for additional information.

EQUITY BASED COMPENSATION - Unvested Restricted Common Stock Unit Awards Activity (Details) - RSAs & RSUs	12 Months Ended
	Dec. 31, 2024 $ / shares shares
RSAs & RSUs
Unvested, beginning balance (in shares) \| shares	9,116
Granted (in shares) \| shares	392,028
Vested (in shares) \| shares	(265,451)
Forfeited (in shares) \| shares	(4,346)
Unvested, ending balance (in shares) \| shares	131,347
Weighted Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 62.99
Granted (in dollars per share) \| $ / shares	3.88
Vested (in dollars per share) \| $ / shares	6.85
Forfeited (in dollars per share) \| $ / shares	3.74
Unvested, ending balance (in dollars per share) \| $ / shares	$ 3.31

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands			3 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	Jan. 29, 2025	Jan. 24, 2025	Mar. 28, 2025	Dec. 31, 2024	Dec. 31, 2021
Senior Unsecured Notes \| Senior Notes
Subsequent Event [Line Items]
Interest rate (as percent)				8.50%	8.50%
Debt exchanged				$ 3,660
Subsequent Event
Subsequent Event [Line Items]
Debt instrument, interest rate, total cumulative share, percentage		19.99%
Issuance of shares, net of issuance costs (in shares)	752,742
Subsequent Event \| Letter of Credit
Subsequent Event [Line Items]
Interest rate (as percent)		8.50%
Subsequent Event \| Senior Unsecured Notes \| Senior Notes
Subsequent Event [Line Items]
Interest rate (as percent)			8.50%
Debt exchanged			$ 1,800
Subsequent Event \| Debt Exchange Agreements
Subsequent Event [Line Items]
Number of shares issued in transaction (in shares)			643,456
Subsequent Event \| Atlas Holdings LLC
Subsequent Event [Line Items]
Letters of credit outstanding, amount		$ 8,600

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2024 MW	Dec. 31, 2024 USD ($)	Aug. 31, 2024 USD ($)	Jun. 30, 2024	Dec. 31, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash in restricted account to cover earned but unpaid hosting services		$ 0.0			$ 1.2
Mining capacity lease term	5 years
Power deployed \| MW	7.5
Variable lease costs		$ 2.8
Operating lease term				5 years
Right-of-use asset			$ 0.2
Lease liability			$ 0.2
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]			Other long-term assets
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]			Other long-term liabilities

DEBT - Schedule of Financing Agreements (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021
Debt Instrument [Line Items]
Total Debt	$ 68,541	$ 72,200
Less: Debt discount and issue costs	(473)	(3,490)
Total debt at book value	68,068	68,710
Less: Current portion	0	0
Long-term debt, net of current portion	$ 68,068	68,710
Senior Notes \| Senior Unsecured Notes
Debt Instrument [Line Items]
Interest Rate	8.50%		8.50%
Initial Financing	$ 72,200
Total Debt	$ 68,541	$ 72,200

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Jun. 30, 2023	Jan. 31, 2023	Dec. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Long-term assets held for sale			$ 7.2
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Effective income tax rate from discontinued operations (as percent)			0.00%
Support Com \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of business	$ 0.8	$ 2.6

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE - Financial Results (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on asset disposal	$ (641)	$ 9,903
Loss from discontinued operations, net of tax	0	(471)
Support Com \| Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	0	4,223
Cost of revenue - services and other (exclusive of depreciation and amortization)	0	(4,436)
Selling, general and administrative	0	(3,388)
Merger and other costs	0	(684)
Gain on asset disposal	0	4,162
Loss on classification to held for sale	0	(501)
Other (loss) income, net	0	(179)
Pretax loss of discontinued operations	0	(803)
Provision for (benefit from) income taxes	0	(332)
Loss from discontinued operations, net of tax	$ 0	$ (471)

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT REPORTING

The Company has one reportable segment. The Datacenter Operations segment primarily derives revenue through datacenter hosting, crypto-currency self-mining, and power and capacity sales. The Company's chief operating decision maker is collectively the Chief Executive Officer and the President. They assess the performance of the segment and decide how to allocate resources based on segment gross profit and net income. The metrics are used to evaluate the investment in the expansion of new datacenters or other uses such as the continued deleveraging of the Company. Gross profit and net income is used to monitor budget versus actual results.


	Years Ended December 31,
$ in thousands	2024		2023
Segment revenue	$	59,533	$	70,388
Less:
Natural Gas Expense	16,168		14,469
Electricity for Mining Expense	3,044		10,756
Emissions Expense	8,676		6,480
Hosting Fee Expense	3,428		7,374
Other Cost of Revenue (a)	9,792		11,926
Segment gross profit	$	18,425	$	19,383

Depreciation	13,471		13,602
Selling, general and administrative	17,294		26,167
Impairment of equity securities	869		—
Loss (gain) on sale of assets	641		(9,903)
Impairment of long-lived assets	169		4,000
Remeasurement of environmental liability	453		2,409
Interest expense, net	7,082		12,659
Change in fair value of warrant asset	477		—
Gain on digital assets	(2,154)		—
Gain on sale of digital assets	—		(512)
Other income, net	(23)		—
Benefit from income taxes	(69)		—
Segment net loss	$	(19,785)	$	(29,039)

Reconciliation of consolidated net loss
Loss from discontinued operations, net of tax	—		(471)
Net loss	$	(19,785)	$	(29,510)

(a) Other cost of revenue primarily consists of labor and repairs and maintenance expenses

- 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.

+ References

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-URI https://asc.fasb.org/280/tableOfContent

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+ Details

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	1 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Sep. 30, 2020 USD ($) dth	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]		Environmental liabilities
Environmental liabilities		$ 30,432	$ 29,866
Environmental liability related to landfill, period		30 years
Annual inflation rate on environmental liability related to landfill (as percent)		2.30%
Purchase commitment, energy volume required per day (in dekatherm) \| dth	15,000,000
Purchase commitment per month	$ 200
Purchase commitment, termination notice period (in months)	12 months
Purchase commitment period (in years)	10 years
Coal ash impoundment
Loss Contingencies [Line Items]
Environmental liability		$ 17,300	17,300
Environmental liability, remediation period (in years)		4 years
Environmental liabilities		$ 13,400	12,900
Coal ash impoundment \| Selling, General and Administrative Expenses
Loss Contingencies [Line Items]
Environmental obligations		$ 500	$ 2,400

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

STOCKHOLDERS’ DEFICIT - Narrative (Details)										3 Months Ended	6 Months Ended	12 Months Ended		24 Months Ended	30 Months Ended
STOCKHOLDERS’ DEFICIT - Narrative (Details)	Sep. 24, 2024 shares	Jul. 30, 2024 USD ($)	Feb. 12, 2024 USD ($) $ / shares shares	Feb. 09, 2024 shares	Jan. 30, 2024 shares	Dec. 11, 2023 USD ($) $ / shares shares	Apr. 11, 2023 $ / shares	Oct. 03, 2022 USD ($)	Apr. 28, 2022 shares	Dec. 31, 2024 USD ($) vote $ / shares shares	Mar. 25, 2025 USD ($) shares	Dec. 31, 2024 USD ($) vote $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Apr. 28, 2024 USD ($) shares	Mar. 21, 2025 USD ($) shares	Mar. 28, 2025 USD ($)	Aug. 14, 2024 $ / shares shares	Apr. 07, 2022 USD ($)
Class of Stock [Line Items]
Greenidge common stock value per share (in dollars per share) \| $ / shares										$ 0.0001		$ 0.0001	$ 0.0001
Common stock, outstanding (in shares)										13,025,627		13,025,627	9,131,252
Common stock, issued (in shares)										13,025,627		13,025,627	9,131,252
Warrants outstanding (in shares)										1,260,505		1,260,505	180,000
Exercise price (in dollars per share) \| $ / shares						$ 7.00				$ 5.25		$ 5.25	$ 7.00
Warrant term (in years)						1 year				1 year		1 year
Number of securities called by warrants (in shares)						180,000
Warrant issued in exchange for warrant asset \| $												$ 4,866,000	$ 477,000
Shares issued in connection with equity exchange agreement (in shares)						180,000
Share price (in dollars per share) \| $ / shares						$ 4.83
Shares issues in connection with equity exchange agreement \| $						$ 900,000						0	869,000
Warrant asset \| $													477,000
Impairment of equity securities \| $												869,000	0
Change in fair value of warrant asset \| $												(477,000)	0
Issuance of shares for amendment fee associated with debt modification \| $										$ 1,620,000			1,000,000
Senior Unsecured Notes \| Senior Notes
Class of Stock [Line Items]
Debt exchanged \| $										$ 3,660,000		$ 3,660,000
Infinite Reality, Inc
Class of Stock [Line Items]
Exercise price (in dollars per share) \| $ / shares						$ 5.35
Warrant term (in years)						1 year
Number of securities called by warrants (in shares)						235,754
Shares issued in connection with equity exchange agreement (in shares)						280,374
Warrant asset \| $													$ 500,000
February 2024 Pre-Funded Warrant
Class of Stock [Line Items]
Warrants outstanding (in shares)			810,205
Warrant issued in exchange for warrant asset \| $			$ 2,000,000
Common Stock Warrant
Class of Stock [Line Items]
Warrant issued in exchange for warrant asset \| $			$ 2,800,000
Subsequent Event \| Senior Unsecured Notes \| Senior Notes
Class of Stock [Line Items]
Debt exchanged \| $																$ 1,800,000
Common Stock Purchase Agreement
Class of Stock [Line Items]
Maximum aggregate consideration to be received on transaction \| $		$ 20,000,000
Sale of stock, period (in months)		36 months
Number of shares issued in transaction (in shares)	7,300,000											1,595,855
Net proceeds received \| $												$ 4,300,000
Common Stock Purchase Agreement \| Subsequent Event
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)											1,595,855
Net proceeds received \| $											$ 4,300,000
Securities Purchase Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)			450,300
Net proceeds received \| $			$ 6,000,000.0
Sale of stock (in dollars per share) \| $ / shares			$ 4.76
Exercise price (in dollars per share) \| $ / shares			$ 0.0001														$ 5.25
Warrant term (in years)			5 years
Number of securities called by warrants (in shares)																	1,260,505
At The Market Issuance Sales Agreement
Class of Stock [Line Items]
Maximum aggregate consideration to be received on transaction \| $								$ 22,800,000
Number of shares issued in transaction (in shares)												0	3,879,309
Net proceeds received \| $												$ 0	$ 18,700,000
Underwriter compensation, percentage of gross stock sales (as percent)								3.00%
At The Market Issuance Sales Agreement \| Subsequent Event
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)															4,167,463
Net proceeds received \| $															$ 20,700,000
Equity Purchase Agreement
Class of Stock [Line Items]
Maximum aggregate consideration to be received on transaction \| $																		$ 500,000,000
Sale of stock, period (in months)									24 months
Number of shares issued in transaction (in shares)									572,095			45,269		549,285
Net proceeds received \| $												$ 1,000,000		$ 8,000,000
Exchange Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)										692,433
Class A Common Stock, $0.0001 par value
Class of Stock [Line Items]
Greenidge common stock value per share (in dollars per share) \| $ / shares							$ 0.0001
Conversion ratio							0.1
Number of votes \| vote										1		1
Common stock, outstanding (in shares)										10,292,233		10,292,233
Common stock, issued (in shares)										10,292,233		10,292,233
Number of shares issued in conversion (in shares)				42,000	77,245
Common Class B
Class of Stock [Line Items]
Greenidge common stock value per share (in dollars per share) \| $ / shares							$ 0.0001
Conversion ratio							0.1
Number of votes \| vote										10		10
Common stock, outstanding (in shares)										2,733,394		2,733,394
Common stock, issued (in shares)										2,733,394		2,733,394
Common stock, convertible, conversion ratio										1		1
Number of shares converted (in shares)				42,000	77,245

FAIR VALUE - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Warrant asset		$ 477
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and current other assets	Prepaid expenses and current other assets
Digital assets	$ 6,950	$ 369
Level 1
Assets:
Warrant asset		0
Digital assets	6,950
Level 2
Assets:
Warrant asset		0
Digital assets	0
Level 3
Assets:
Warrant asset		$ 477
Digital assets	$ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

EQUITY BASED COMPENSATION - Weighted Average Assumptions Relating to the Valuation of Stock Options (Details) - $ / shares		12 Months Ended
	Apr. 26, 2024	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Weighted average exercise price per share, granted (in dollars per share)		$ 3.00	$ 4.94
Expected volatility	133.96%	109.00%	211.00%
Expected term (years)	8 years 5 months 15 days	5 years 7 months 6 days	10 years
Risk-free interest rate	4.67%	4.50%	4.50%
Expected dividend yield	0.00%	0.00%	0.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment, Net Useful Lives (Details)	Dec. 31, 2024
Plant infrastructure
Property Plant And Equipment [Line Items]
Estimated useful lives	10 years
Miners
Property Plant And Equipment [Line Items]
Estimated useful lives	3 years
Miner facility infrastructure
Property Plant And Equipment [Line Items]
Estimated useful lives	10 years
Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives	5 years
Software
Property Plant And Equipment [Line Items]
Estimated useful lives	3 years

Debt - Minimum Future Principal Payments on Debt (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 0
2026	68,541
2027	0
2028	0
Thereafter	0
Total	$ 68,541

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION - Contract Liability (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Contract With Customer, Liability [Roll Forward]
Balance as of December 31, 2023	$ 0
Revenue recognized	0
Deposits received	2,339
Balance as of December 31, 2024	$ 2,339

STOCKHOLDERS’ DEFICIT

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

STOCKHOLDERS’ DEFICIT

Common Stock

On April 11, 2023, the stockholders approved a reverse stock split of the Company's issued and outstanding Class A common stock, par value $0.0001 per share and Class B common stock, par value $0.0001 per share, such that every ten (10) outstanding shares of Class A common stock would be combined and reclassified into one (1) share of Class A common stock and every ten (10) outstanding shares of Class B common stock would be combined and reclassified into one (1) share of Class B common stock. On the effective date specified in the Certificate of Amendment, every holder of outstanding shares of common stock was entitled to receive, subject to the treatment of fractional shares described in the Certificate of Amendment, one share of Class A common stock or Class B common stock, as applicable, in exchange for ten shares of Class A common stock or Class B common stock, as applicable, held by such holder (the “Reverse Stock Split”). The Reverse Stock Split became effective on May 16, 2023.

Holders of Greenidge’s Class A common stock are entitled to one vote per share. Holders of Class B common stock are entitled to ten votes per share. Class A and Class B shares issued and outstanding as of December 31, 2024 are 10,292,233 and 2,733,394, respectively.

Each share of Class B common stock is convertible into one share of Class A common stock at the option of the holder upon written notice to the Company. Shares of Class B common stock will automatically convert to shares of Class A common stock upon a mandatory conversion event as defined in the second amended and restated certificate of incorporation dated September 6, 2022.

Common Stock Purchase Agreement with B. Riley Principal Capital II, LLC

On July 30, 2024, the Company entered into the Common Stock Purchase Agreement with B. Riley Principal II, an affiliate of B. Riley Principal. Pursuant to the Common Stock Purchase Agreement, the Company has the right to sell to B. Riley Principal II up to $20 million in shares of its Class A common stock, subject to certain limitations and the satisfaction of specified conditions in the Common Stock Purchase Agreement, from time to time over the 36-month period commencing September 24, 2024.

In connection with the Common Stock Purchase Agreement, the Company entered into a registration rights agreement with B. Riley Principal II, pursuant to which the Company agreed to prepare and file a registration statement registering the resale by B. Riley Principal II of those shares of the Company's Class A common stock to be issued under the Common Stock Purchase Agreement. The registration statement became effective on September 24, 2024 (the "Effective Date"), relating to the resale of 7,300,000 shares of Greenidge's Class A common stock in connection with the Common Stock Purchase Agreement.

From the Effective Date through March 25, 2025, Greenidge issued 1,595,855 shares under the Common Stock Purchase Agreement for net proceeds of $4.3 million, all of which were issued, and net proceeds were received, during the year ended December 31, 2024.

Armistice Capital Agreement

On February 12, 2024, the Company entered into a securities purchase agreement (the “Armistice SPA”) with Armistice Capital Master Fund Ltd. (“Armistice”). Pursuant to the Armistice SPA, Armistice purchased (i) 450,300 shares (the “Shares”) of the Company’s Class A common stock, and (ii) a pre-funded warrant (the "Pre-Funded Warrant") to purchase 810,205 shares of the Company’s Class A common stock (the “Pre-Funded Warrant Shares”). The per share purchase price of the Shares and the Pre-Funded Warrant Shares was $4.76, resulting in aggregate gross proceeds of $6.0 million, and after giving effect to the exercise price of $0.0001 per Pre-Funded Warrant Share, the Company received net proceeds of $6.0 million. The Pre-Funded Warrant was exercised in full during the year ended December 31, 2024. In addition, the Company issued to Armistice a five-year Class A common stock purchase warrant ("5-Year Warrant") entitling Armistice,

commencing on August 14, 2024, to acquire up to 1,260,505 shares of the Company’s Class A common stock from time to time at an exercise price of $5.25 per share (the “Warrant Shares”). The Warrant Shares remained unexercised as of December 31, 2024.

The Pre-Funded Warrant and 5-Year Warrant were classified as a component of permanent stockholders’ equity within additional paid-in capital and were recorded at the issuance date using a relative fair value allocation method. The Company valued the Pre-Funded Warrant at issuance, concluding that its sale price approximated their fair value, and allocated the aggregate net proceeds from the sale proportionately to the 5-Year Warrant and Pre-Funded Warrant, including approximately $2.0 million allocated to the Pre-Funded Warrant and recorded as a component of additional paid-in capital. The Company valued the 5-Year Warrant using the Black-Scholes-Merton option pricing model and recorded as a component of additional paid-in capital with an allocated amount of $2.8 million. By analogy to ASC 505-20-30-3, the Company would have recorded a charge to retained earnings, however, as the Company is in a deficit position it was recorded as a component of additional paid-in capital.

Infinite Reality, Inc. Equity Exchange Agreement

On December 11, 2023, Greenidge entered into an equity exchange agreement (the "Equity Exchange Agreement") with Infinite Reality, Inc. ("Infinite Reality"), pursuant to which, among other things, (i) the Company issued to Infinite Reality a one-year warrant (the "1-Year Warrant") to purchase 180,000 shares of our Class A common stock at an exercise price of $7.00 per share, which expired unexercised on December 11, 2024, and (ii) the Company issued 180,000 shares of our Class A common stock to Infinite Reality. The Company valued the shares issued under the Equity Exchange Agreement using the closing price on December 11, 2023, $4.83 per share, for an aggregate value of $0.9 million.

In exchange for issuing the 1-Year Warrant and Class A common stock, we received (i) a 1-year warrant (the "Infinite Reality Warrant") to purchase 235,754 shares of Infinite Reality's common stock at an exercise price of $5.35 per share, recognized as a derivative asset in the amount of $0.5 million and included in prepaid expenses and other current assets as of December 31, 2023 and (ii) 280,374 shares of Infinite Reality's common stock, recognized as an investment in equity securities and included in Other long-term assets. The Infinite Reality Warrant was automatically exercised on a net settlement basis immediately prior to expiration on December 11, 2024. During the fourth quarter of 2024, Greenidge performed a qualitative assessment of impairment indicators for the shares of Infinite Reality's common stock. An impairment charge of $0.9 million was recorded for the year ended December 31, 2024, which was the entire carrying amount of the Infinite Reality common stock. We have assigned no value to the exercised shares and recognized a loss on the value of the warrants of $0.5 million during the year ended December 31, 2024.

At 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., relating to shares of Greenidge’s Class A common stock. Under the ATM Agreement, B. Riley agreed to 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 3.0% 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 on Form S-3 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 March 25, 2025, Greenidge issued 4,167,463 shares under the ATM Agreement for net proceeds of $20.7 million. Under the ATM Agreement, Greenidge issued no and 3,879,309 shares and received net proceeds of $0.0 million and $18.7 million during the years ended December 31, 2024 and 2023, respectively.

Equity Purchase Agreement with B. Riley Principal Capital, LLC

On September 15, 2021, as amended on April 7, 2022, Greenidge entered into an equity purchase agreement (the "Equity Purchase Agreement") with B. Riley Principal. Pursuant to the Equity Purchase Agreement, Greenidge has the right to sell to B. Riley up to $500 million in shares of its Class A common stock, subject to certain limitations and the satisfaction of specified conditions in the Equity Purchase Agreement, from time to time over the 24-month period commencing on April 28, 2022.

In connection with the Equity 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 Equity Purchase Agreement. The registration statement became effective on April 28, 2022 (the "April 2022 Effective Date"), relating to the resale of 572,095 shares of Greenidge’s Class A common stock in connection with the Equity Purchase Agreement.

From the April 2022 Effective Date to April 28, 2024, Greenidge issued 549,285 shares of Class A common stock to the Investor pursuant to the Equity Purchase Agreement for aggregate proceeds of $8.0 million, net of discounts, of which there were 45,269 shares issued for aggregate proceeds of $1.0 million, net of discounts, from January 1, 2024 through April 28, 2024. The Equity Purchase Agreement automatically terminated pursuant to its terms on April 28, 2024.

Warrants

The following table summarizes the Company's warrant activity:


	Number of warrants	Weighted Average Exercise Price
Warrants outstanding at December 31, 2023	180,000	$7.00
Issued	2,070,710	3.20
Exercised	810,205	0.00
Expired	180,000	7.00
Warrants outstanding at December 31, 2024	1,260,505	$5.25

The following table summarizes information about warrants outstanding at December 31, 2024:

Number of Warrants Outstanding

Number of Warrants Exercisable

Exercise Price

Expiration Date

February 2024 Warrants

1,260,505

$5.25

August 14, 2029

Class B Common Stock Conversion

On January 30, 2024 and February 9, 2024, the Company received notices of conversion from holders of its Class B common stock to convert 77,245 and 42,000 shares of Class B common stock, respectively, in exchange for 77,245 and 42,000 shares of Class A common stock, respectively.

Debt Exchange Agreements

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

LOSS PER SHARE - Anti-dilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	1,874	648
Restricted stock awards
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	131	9
Common shares issuable upon exercise of stock options
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	482	459
Common shares issuable upon exercise of warrants
Earnings Per Share Basic [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	1,261	180

SEGMENT REPORTING - Narrative (Details)	12 Months Ended
SEGMENT REPORTING - Narrative (Details)	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	1

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
REVENUE:
Total revenue	$ 59,533,000	$ 70,388,000
OPERATING COSTS AND EXPENSES:
Depreciation	13,471,000	13,602,000
Selling, general and administrative	17,294,000	26,167,000
Gain on digital assets	(2,154,000)	0
Loss (gain) on sale of assets	641,000	(9,903,000)
Impairment of long-lived assets	169,000	4,000,000
Remeasurement of environmental liability	453,000	2,409,000
Total operating costs and expenses	70,982,000	87,280,000
Operating Loss	(11,449,000)	(16,892,000)
OTHER INCOME (EXPENSE), NET:
Interest expense, net	(7,082,000)	(12,659,000)
Gain on sale of digital assets	0	512,000
Change in fair value of warrant asset	(477,000)	0
Impairment of equity securities	(869,000)	0
Other income, net	23,000	0
Total other expense, net	(8,405,000)	(12,147,000)
Loss from continuing operations before taxes	(19,854,000)	(29,039,000)
Benefit from income taxes	(69,000)	0
Net loss from continuing operations	(19,785,000)	(29,039,000)
Loss from discontinued operations, net of tax	0	(471,000)
Net loss	(19,785,000)	(29,510,000)
Comprehensive Loss
Net Loss	(19,785,000)	(29,510,000)
Foreign currency translation adjustment	(3,000)	12,000
Comprehensive loss	$ (19,788,000)	$ (29,498,000)
Net loss per share, basic and diluted:
Net loss per share from continuing operations, basic (in dollars per share)	$ (1.88)	$ (4.36)
Net loss per share from continuing operations, diluted (in dollars per share)	(1.88)	(4.36)
Loss per share from discontinued operations, basic (in dollars per share)	0	(0.07)
Loss per diluted share from discontinued operations (in dollars per share)	0	(0.07)
Net loss per share, basic (in dollars per share)	(1.88)	(4.43)
Net loss per share, diluted (in dollars per share)	$ (1.88)	$ (4.43)
Weighted Average Shares Outstanding
Weighted average shares outstanding, basic (in shares)	10,504,000	6,660,000
Weighted average shares outstanding, diluted (in shares)	10,504,000	6,660,000
Cryptocurrency mining
REVENUE:
Total revenue	$ 19,061,000	$ 24,238,000
OPERATING COSTS AND EXPENSES:
Cost of revenue	12,080,000	15,051,000
Datacenter hosting
REVENUE:
Total revenue	29,838,000	39,478,000
OPERATING COSTS AND EXPENSES:
Cost of revenue	22,237,000	29,695,000
Power and capacity
REVENUE:
Total revenue	10,634,000	6,672,000
OPERATING COSTS AND EXPENSES:
Cost of revenue	$ 6,791,000	$ 6,259,000

DEBT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
DEBT - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2021	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Interest expense, nonoperating			$ 7,100	$ 12,700
Issuance of shares for amendment fee associated with debt modification	$ 1,620			1,000
Notional value			68,500	72,200
Fair value of debt	24,800		24,800	29,300
Less: Debt discount and issue costs	$ (473)		$ (473)	$ (3,490)
Exchange Agreement
Debt Instrument [Line Items]
Number of shares issued in transaction (in shares)	692,433
Senior Unsecured Notes \| Senior Notes
Debt Instrument [Line Items]
Senior Notes		$ (72,200)
Interest Rate	8.50%	8.50%	8.50%
Debt exchanged	$ 3,660		$ 3,660
Senior Unsecured Notes \| Senior Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption percentage (as percent)		102.00%
Senior Unsecured Notes \| Senior Notes \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption percentage (as percent)		101.00%
Senior Unsecured Notes \| Senior Notes \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption percentage (as percent)		100.00%
Senior Unsecured Notes \| Senior Notes \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Redemption percentage (as percent)		100.50%

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Years Ended December 31,
$ in thousands	2024		2023
Segment revenue	$	59,533	$	70,388
Less:
Natural Gas Expense	16,168		14,469
Electricity for Mining Expense	3,044		10,756
Emissions Expense	8,676		6,480
Hosting Fee Expense	3,428		7,374
Other Cost of Revenue (a)	9,792		11,926
Segment gross profit	$	18,425	$	19,383

Depreciation	13,471		13,602
Selling, general and administrative	17,294		26,167
Impairment of equity securities	869		—
Loss (gain) on sale of assets	641		(9,903)
Impairment of long-lived assets	169		4,000
Remeasurement of environmental liability	453		2,409
Interest expense, net	7,082		12,659
Change in fair value of warrant asset	477		—
Gain on digital assets	(2,154)		—
Gain on sale of digital assets	—		(512)
Other income, net	(23)		—
Benefit from income taxes	(69)		—
Segment net loss	$	(19,785)	$	(29,039)

Reconciliation of consolidated net loss
Loss from discontinued operations, net of tax	—		(471)
Net loss	$	(19,785)	$	(29,510)

(a) Other cost of revenue primarily consists of labor and repairs and maintenance expenses

STOCKHOLDERS' DEFICIT - Warrants (Details)	12 Months Ended
STOCKHOLDERS' DEFICIT - Warrants (Details)	Dec. 31, 2024 $ / shares shares
Number of warrants
Warrants outstanding at December 31, 2023 (in shares)	180,000
Issued (in shares)	2,070,710
Exercised (in shares)	810,205
Expired (in shares)	180,000
Warrants outstanding at June 30, 2024 (in shares)	1,260,505
Weighted Average Exercise Price
Warrants outstanding at December 31, 2023, Weighted average exercise price (in dollars per share) \| $ / shares	$ 7.00
Issued, Weighted average exercise price (in dollars per share) \| $ / shares	3.20
Exercised, Weight average exercise price (in dollars per share) \| $ / shares	0.00
Expired (in dollars per share) \| $ / shares	7.00
Warrants outstanding at June 30, 2024, Weighted average exercise price (in dollars per share) \| $ / shares	$ 5.25
February 2024 Warrants
Number of warrants
Warrants outstanding at June 30, 2024 (in shares)	1,260,505
Weighted Average Exercise Price
Warrants outstanding at June 30, 2024, Weighted average exercise price (in dollars per share) \| $ / shares	$ 5.25
Number of Warrants Exercisable (in shares)	1,260,505

INCOME TAXES - Components of Provision (Benefit) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Current tax provision:
Federal	$ 0	$ 0
State	(69)	0
Foreign	0	0
Total current tax benefit	(69)	0
Deferred tax provision:
Federal	0	0
State	0	0
Foreign	0	0
Total deferred tax provision	0	0
Total benefit from income taxes	$ (69)	$ 0

FAIR VALUE - Warrant Asset (Details)	Dec. 31, 2023
Stock price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	4.83
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.0514
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	1.7264
Remaining term (in years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	1.00
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0

DIGITAL ASSETS (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Bitcoin Held

The following table presents our bitcoin holdings as of December 31, 2024 and 2023 (in thousands, except bitcoin held):


	December 31,
Digital assets holdings	2024		2023
Number of bitcoin held	74.5		8.7
Carrying basis of bitcoin	$	5,523	$	347
Fair Value of bitcoin	$	6,950	$	369

Schedule of Digital Assets Rollfoward

The following table represents a reconciliation of the fair values of our digital assets (in thousands):


Digital assets:	Year Ended December 31, 2024
Beginning balance at fair value	$	369
Additions	19,061
Dispositions	(14,634)
Gain on digital assets	2,154
Ending balance	$	6,950

DIGITAL ASSETS - Narrative (Details) $ in Millions	12 Months Ended
DIGITAL ASSETS - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($) bitcoin	Dec. 31, 2023 bitcoin
Goodwill and Intangible Assets Disclosure [Abstract]
Number of bitcoin held \| bitcoin	74.5	8.7
Crypto asset, realized gain sale of digital assets \| $	$ 0.7

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	206
Auditor Name	MaloneBailey, LLP
Auditor Location	Houston, Texas

SEGMENT REPORTING - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Segment revenue	$ 59,533,000	$ 70,388,000
Depreciation	13,471,000	13,602,000
Selling, general and administrative	17,294,000	26,167,000
Impairment of equity securities	869,000	0
Loss (gain) on sale of assets	641,000	(9,903,000)
Impairment of long-lived assets	169,000	4,000,000
Remeasurement of environmental liability	453,000	2,409,000
Interest expense, net	7,082,000	12,659,000
Change in fair value of warrant asset	477,000	0
Gain on digital assets	(2,154,000)	0
Gain on sale of digital assets	0	(512,000)
Other income, net	(23,000)	0
Benefit from income taxes	(69,000)	0
Net loss from continuing operations	(19,785,000)	(29,039,000)
Loss from discontinued operations, net of tax	0	(471,000)
Net loss	(19,785,000)	(29,510,000)
Reportable Segment
Segment Reporting Information [Line Items]
Segment revenue	59,533,000	70,388,000
Natural Gas Expense	16,168,000	14,469,000
Electricity for Mining Expense	3,044,000	10,756,000
Emissions Expense	8,676,000	6,480,000
Hosting Fee Expense	3,428,000	7,374,000
Other Cost of Revenue	9,792,000	11,926,000
Segment gross profit	18,425,000	19,383,000
Depreciation	13,471,000	13,602,000
Selling, general and administrative	17,294,000	26,167,000
Impairment of equity securities	869,000	0
Loss (gain) on sale of assets	641,000	(9,903,000)
Impairment of long-lived assets	169,000	4,000,000
Remeasurement of environmental liability	453,000	2,409,000
Interest expense, net	7,082,000	12,659,000
Change in fair value of warrant asset	477,000	0
Gain on digital assets	(2,154,000)	0
Gain on sale of digital assets	0	(512,000)
Other income, net	(23,000)	0
Benefit from income taxes	(69,000)	0
Net loss from continuing operations	(19,785,000)	(29,039,000)
Loss from discontinued operations, net of tax	0	(471,000)
Net loss	$ (19,785,000)	$ (29,510,000)

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
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)	500,000,000	500,000,000
Common stock, issued (in shares)	13,025,627	9,131,252
Common stock, outstanding (in shares)	13,025,627	9,131,252

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE - Major Classes of Assets and Liabilities to be Transferred (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Long-term assets held for sale	$ 7,184	$ 0
Liabilities:
Current liabilities held for sale	0	483
Support Com \| Discontinued Operations, Held-for-sale
Assets:
Prepaid expenses and other current assets	0	47
Current assets held for sale	0	47
Other assets	0	454
Long-term assets held for sale	0	454
Loss on classification to held for sale	0	(501)
Assets held for sale	0	0
Liabilities:
Accounts payable	0	21
Accrued expenses	0	462
Current liabilities held for sale	0	483
Liabilities held for sale	$ 0	$ 483

LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Summary of Basic Earnings and Diluted per Share of Common Stock

The following table sets forth a reconciliation of the numerator and denominator used to compute basic and diluted net loss per share of common stock (In thousands, except per share data):


	For the Year Ended December 31,
	2024		2023
Numerator
Net loss from continuing operations	$	(19,785)	$	(29,039)
Loss from discontinued operations, net of tax	—		(471)
Net loss	$	(19,785)	$	(29,510)

Denominator
Basic weighted average shares outstanding	10,504		6,660
Effect of dilutive securities	—		—

Diluted weighted average shares outstanding	10,504		6,660

Net loss per share, basic and diluted:
Net loss per share from continuing operations, basic and diluted	$	(1.88)	$	(4.36)
Loss per share from discontinued operations, basic and diluted	—		(0.07)
Net loss per share, basic and diluted	$	(1.88)	$	(4.43)

Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share


	December 31,
Anti-dilutive securities	2024	2023
Restricted stock awards	131	9
Common shares issuable upon exercise of stock options	482	459
Common shares issuable upon exercise of warrants	1,261	180
Total	1,874	648

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:


$ in thousands	Estimated Useful Lives	December 31, 2024		December 31, 2023
Plant infrastructure	10 years	$	1,522	$	1,367
Miners	3 years	36,182		32,195
Miner facility infrastructure	10 years	13,227		8,154
Land	N/A	1,952		7,679
Equipment	5 years	45		45


Construction in process	N/A	1,834		6,229

		54,762		55,669
Less: Accumulated depreciation		(24,463)		(10,574)
		$	30,299	$	45,095

Total depreciation expense was $13.5 million and $13.6 million for the years ended December 31, 2024 and 2023, respectively.

Mississippi Expansion

On April 10, 2024, the Company closed on the purchase of a parcel of land containing approximately 12 acres located in Columbus, Mississippi, including over 73,000 square feet of industrial warehouse space, from a subsidiary of Motus Pivot Inc., a portfolio company of Atlas. The purchase price was $1.45 million, which the Company financed with cash on hand.

Sale of Equipment

During the year ended December 31, 2024, Greenidge sold construction in process assets with a carrying value of $3.7 million for proceeds of $3.1 million resulting in a loss on the sale of assets of $0.6 million.

Sale of South Carolina Facility

As described in Note 1 and Note 3, on November 9, 2023, the Company closed the sale of the South Carolina Facility to complete the deleveraging transaction with NYDIG. In exchange for the sale to NYDIG of the upgraded 44 MW South Carolina mining facilities and the subdivided real estate of approximately 22 acres of land, the Company received total consideration of $28 million, as follows:

•The Senior Secured Loan with NYDIG with remaining principal of $17.7 million was extinguished;

•The B. Riley Commercial Secured Promissory Note with remaining principal of $4.1 million, which NYDIG purchased from B. Riley Commercial on July 20, 2023 at par was extinguished;

•A cash payment of approximately $4.5 million, and

•The Company also received bonus payments earned of approximately $1.6 million as a result of the completion of the expansion of the upgraded mining facility and the facility's uptime performance.

The Company recognized a gain on the sale of the South Carolina Facility of $8.2 million during the year ended December 31, 2023.

Following the completion of the South Carolina Facility sale, the Company continued to own approximately 152 acres of land in South Carolina, which was classified as Held for Sale as of December 31, 2024. On November 27, 2024, the Company entered into a definitive agreement to sell the remaining 152-acres to Data Journey LLC ("Data Journey") for $12.1 million in cash and an 8% profit participation in the property's planned data center. We expect the sale to close in 2025.

Impairment

During 2024, the Company recognized an impairment charge of $0.2 million of property and equipment, net. The impairment was related to miners no longer viable for operation.

In 2023, the Company performed an impairment assessment of the remaining real estate assets in South Carolina, which included the land and the original building which was classified as construction in process as it was not used in cryptocurrency mining. The impairment assessment was performed using a market approach. An impairment charge of $4.0 million was recorded for the year ended December 31, 2023, which was the remaining value of the building which was determined to no longer be recoverable.

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE

A business is classified as held for sale when management having the authority to approve the action commits to a plan to sell the business, the sale is probable to occur during the next 12 months at a price that is reasonable in relation to its current fair value and certain other criteria are met. A business classified as held for sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. When the carrying amount of the business exceeds its estimated fair value less cost to sell, a loss is recognized and updated each reporting period as appropriate.

Support.com

The contract for Support.com's largest customer was not renewed upon expiration on December 31, 2022. As a result of this material change in the business, management and the Board of Directors made the determination to consider various alternatives for Support.com, including the disposition of assets. As of December 31, 2022, the Company classified the Support.com business as held for sale and discontinued operations in these consolidated financial statements as a result of its strategic shift to strictly focus on its cryptocurrency datacenter and power generation operations.

In January 2023, Greenidge completed the sale of a portion of the assets of Support.com for net proceeds of approximately $2.6 million. In June 2023, the Company entered into a purchase and sale agreement with third parties in order to sell certain remaining assets and liabilities, including the transfer of remaining customer contracts, for net proceeds of approximately $0.8 million. The Company ended all Support.com operations as of December 31, 2023.

Major classes of assets and liabilities consist of the following:


	As of December 31,
$ in thousands	2024	2023
Assets:

Prepaid expenses and other current assets	—	47
Current assets held for sale	—	47


Other assets	—	454
Long-term assets held for sale	—	454
Loss on classification to held for sale	—	(501)
Assets held for sale	—	—

Liabilities:
Accounts payable	—	21
Accrued expenses	—	462
Current liabilities held for sale	—	483



Liabilities held for sale	—	483

Financial results from discontinued operations consist of the following:


	For the Year Ended December 31,
$ in thousands	2024		2023
Revenue	$	—	$	4,223
Cost of revenue - services and other (exclusive of depreciation and amortization)	—		(4,436)

Selling, general and administrative	—		(3,388)
Merger and other costs	—		(684)
Gain on asset disposal	—		4,162
Loss on assets classified as held for sale	—		(501)

Other (loss) income, net	—		(179)
Pretax loss of discontinued operations	—		(803)
Provision for (benefit from) income taxes	—		(332)
Loss from discontinued operations, net of tax	$	—	$	(471)

The Company’s effective income tax rate from discontinued operations for the years ended December 31, 2024 and 2023 was 0%.

South Carolina Facility

In September 2024, the Company entered into a letter of intent to sell the remaining land it owns in Spartanburg, South Carolina and in November 2024 entered into a definitive agreement to sell. The South Carolina Facility, with a carrying value of $7.2 million, is presented as long-term assets held for sale as of December 31, 2024.

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Benefit at federal statutory rate	$ (4,170)	$ (6,248)
State income taxes, net of federal tax benefits	(301)	0
Change in valuation allowance	4,430	(13,002)
Other, net	(28)	19,250
Total benefit from income taxes	$ (69)	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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-Topic 270
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+ Details

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS As of December 31, 2024, Atlas and its affiliates control 72.1% of the voting power of our outstanding capital stock. As a result, we are a "controlled company" within the meaning of Nasdaq’s corporate governance standards. Letters of Credit Atlas obtained a letter of credit from a financial institution in the amount of $5.0 million at December 31, 2024 and 2023, payable to the NYSDEC. This letter of credit guarantees the current value of the Company’s landfill environmental trust liability. See Note 10, "Commitments and Contingencies" for further details. Atlas also has a letter of credit from a financial institution in the amount of $3.6 million at December 31, 2024 and 2023, 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. Co-Defendant Endorsement On October 14, 2024, the Company agreed to include a co-defendant endorsement under its directors and officers liability insurance policy (the "D&O Policy") with respect to Atlas and certain of its affiliates, which, in certain circumstances, extends coverage to claims for losses attributable to a wrongful act of the Company or any of our insured persons jointly made and continuously maintained against the Company and/or any of our insured persons under the D&O Policy, on the one hand, and Atlas and/or certain of its affiliates, on the other. The inclusion of such co-defendant endorsement resulted in no change to the Company's premiums with respect to its D&O insurance policy. Mississippi Expansion On April 10, 2024, a subsidiary of the Company acquired a parcel of land, including industrial warehouse space, from a subsidiary of Motus, which is a portfolio company of private investment funds managed by Atlas, a related party of the Company. For additional information, see Note 4, Property and Equipment, Net. Other Affiliates of Atlas from time to time incur certain costs for the benefit of Greenidge, which are fully reimbursed by Greenidge. There were no amounts reimbursed by Greenidge during 2024. The amount of costs reimbursed by Greenidge during 2023 was $0.2 million.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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+ Details

FAIR VALUE - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
FAIR VALUE - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Impairment of long-lived assets	$ 169	$ 4,000

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION

Contract Liabilities

At time, we receive payments from customers before revenue is recognized, resulting in the recognition of a contract liability presented in the Consolidated Balance Sheets.

Changes in the Contract liability balance for the year ended December 31, 2024 are as follows:


$ in thousands	Contract Liabilities
Balance as of December 31, 2023	$	—
Revenue recognized	—
Deposits received	2,339
Balance as of December 31, 2024	$	2,339

The following table provides additional details of Prepaid expenses and other assets:


	As of December 31,
$ in thousands	2024		2023
Prepaid insurance	$	1,279	$	2,818
Electric deposits	588		—
Warrant Asset	—		477
Other prepaid expenses	750		569
Prepaid expenses and other assets	$	2,617	$	3,864

The Company had the following noncash investing and financing activities:


	For the year ended December 31,
$ in thousands	2024		2023
Cumulative-effect adjustment due to the adoption of ASU 2023-08	$	22	$	—
Property and equipment purchases in accounts payable	108		813
Common stock issued for amendment fee to lender	—		1,000
Subscription receivable in exchange for issuance of common stock	—		698
Exchange of assets for reduction in debt	—		71,755
Exchange of coupons for reduction in debt	—		1,152
Exchange of equipment deposits for reduction in debt	—		7,381
Accrued interest added to debt principal	—		1,212
Common stock issued in exchange for equity interest	—		869
Warrant issued in exchange for warrant asset	—		477
Common stock issued in exchange for reduction in debt	1,616		—
Right-of-use asset obtained in exchange for operating lease liability	156		—

The following table provides supplemental cash flow information for cash paid for interest:


	For the Year Ended December 31,
$ in thousands	2024		2023
Cash paid for interest	$	6,153	$	8,140

Under the contract with its hosting provider, the Company was required to maintain cash in a restricted account sufficient to cover earned but unpaid hosting services. At December 31, 2023, this account had $1.2 million of cash designated for payment of such services. During 2024, the Company terminated the contract with the hosting provider. Therefore, the Company had no restricted cash at December 31, 2024.

In January 2024, the Company entered into a five-year capacity lease agreement, which provides the Company with 7.5 MW of self-mining capacity. The Company began mining in April 2024. During the year ended December 31, 2024, the Company recognized $2.8 million of variable lease costs in connection with the capacity lease agreement, which is included within Cost of revenue - cryptocurrency mining (exclusive of depreciation) in the consolidated statements of operations and comprehensive loss.

In June 2024, the Company entered into an operating lease, which has a term of five years. The Company recorded a right-of-use asset and lease liability of $0.2 million, which are included in Other long-term assets and Other long-term liabilities, respectively, upon commencement in August 2024.

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS	Dec. 31, 2024
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 a facility in Torrey, New York (the "New York Facility") and owned and operated a facility in Spartanburg, South Carolina (the "South Carolina Facility"). The Company generates revenue in U.S. dollars by providing hosting, power and technical support services to third-party owned bitcoin mining equipment and generates revenue in the form of 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, which may be operated at the Company's sites or at third-party hosting sites through short-term hosting agreements. The Company also owns and operates a 106 megawatt ("MW") power facility that is connected to the New York Independent System Operator ("NYISO") power grid. In addition to the electricity used "behind the meter" by the New York datacenter, 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. On November 9, 2023, the Company closed the sale of the South Carolina Facility as part of a deleveraging transaction. See Note 4, "Property and Equipment, Net", for further details.

INCOME TAXES - Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic	$ (19,854)	$ (29,039)
Foreign	0	0
Loss from continuing operations before taxes	$ (19,854)	$ (29,039)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

CONDOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONDOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2024	Dec. 31, 2023
OPERATING ACTIVITIES FROM CONTINUING OPERATIONS:
Net loss	$ (19,785,000)	$ (29,510,000)
Loss from discontinued operations	0	(471,000)
Net loss from continuing operations	(19,785,000)	(29,039,000)
Adjustments to reconcile net loss from continuing operations to net cash flow from operating activities:
Depreciation	13,471,000	13,602,000
Change in fair value of warrant asset	477,000	0
Impairment of long-lived assets	169,000	4,000,000
Impairment of equity securities	869,000	0
Amortization of debt issuance costs	974,000	2,611,000
Loss on debt extinguishment	0	591,000
Stock-based compensation expense	2,182,000	2,344,000
Remeasurement of environmental liability	453,000	2,409,000
Professional fees paid in common stock	0	250,000
Loss (gain) on sale of assets	641,000	(9,903,000)
Revenues from digital assets production	(19,061,000)	0
Proceeds from sale of digital assets	11,149,000	0
Gain on digital assets	(2,154,000)	0
Changes in operating assets and liabilities:
Accounts receivable	(1,135,000)	2,338,000
Digital Assets	0	1,000
Emissions and carbon offset credits	(1,430,000)	(4,434,000)
Prepaid expenses and other assets	770,000	2,829,000
Accounts payable	1,060,000	(2,748,000)
Accrued emissions expense	(1,852,000)	4,468,000
Accrued expenses	(1,846,000)	(3,407,000)
Income tax receivable	857,000	(59,000)
Contract liabilities	2,339,000	0
Other long-term liabilities	0	2,543,000
Other	(192,000)	(551,000)
Net cash flow used for operating activities from continuing operations	(12,044,000)	(12,155,000)
INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of and deposits for property and equipment	(10,422,000)	(13,015,000)
Proceeds from sale of digital assets	3,485,000	0
Proceeds from sales of assets	3,049,000	6,984,000
Net cash flow used for investing activities from continuing operations	(3,888,000)	(6,031,000)
FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from issuance of common stock, net of issuance costs	5,239,000	20,581,000
Proceeds from issuance of common stock and pre-funded warrants	6,000,000	0
Principal payments on debt	0	(6,809,000)
Net cash flow provided by financing activities from continuing operations	11,239,000	13,772,000
Discontinued Operations:
Net cash flow from operating activities of discontinued operations	0	(816,000)
Net cash flow from investing activities of discontinued operations	0	3,325,000
Increase in cash and cash equivalents from discontinued operations	0	2,509,000
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(4,693,000)	(1,905,000)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - beginning of year	13,312,000	15,217,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - end of year	$ 8,619,000	$ 13,312,000

CONCENTRATIONS (Details)	12 Months Ended
CONCENTRATIONS (Details)	Dec. 31, 2024	Dec. 31, 2023
Cost of Goods and Service Benchmark \| Supplier Concentration Risk \| One Major Provider of Hosting Services
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	18.00%
Data Center Customer \| Sales Revenue Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	50.00%	56.00%
Operator Customer One \| Sales Revenue Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	32.00%	33.00%
One Major Customer \| Sales Revenue Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	9.00%
One Major Vendor \| Sales Revenue Net \| Supplier Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage	37.00%	27.00%

DEBT (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Financing Agreements

The following table provides information on the Company's financing agreements:


$ in thousands						As of:
Note	Loan Date	Maturity Date	Interest Rate		Initial Financing	December 31, 2024		December 31, 2023










Senior Unsecured Notes	October 2021/December 2021	October 2026	8.5	%	72,200	68,541		72,200

Total Debt						68,541		72,200
Less: Debt discount and issue costs						(473)		(3,490)
Total debt at book value						68,068		68,710
Less: Current portion						—		—
Long-term debt, net of current portion						$	68,068	$	68,710

The following table details our interest expense related to the Senior Notes (in thousands):


	December 31, 2024		December 31, 2023
Contractual interest expense	$	6,108	$	10,048
Amortization of debt discount and issuance costs	974		2,611
Total interest expense	$	7,082	$	12,659

Summary of Minimum Future Principal Payments on Debt

Minimum future principal payments on debt as of December 31, 2024 were as follows based on the terms of the debt at that date:


$ in thousands
2025	$	—
2026	68,541
2027	—
2028	—
Thereafter	—
Total	$	68,541

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment, Net


Asset Class			Estimated Useful Lives
Plant infrastructure			10 years
Miners			3 years
Miner facility infrastructure			10 years

Equipment			5 years
Software			3 years

Property and equipment, net consisted of the following:


$ in thousands	Estimated Useful Lives	December 31, 2024		December 31, 2023
Plant infrastructure	10 years	$	1,522	$	1,367
Miners	3 years	36,182		32,195
Miner facility infrastructure	10 years	13,227		8,154
Land	N/A	1,952		7,679
Equipment	5 years	45		45


Construction in process	N/A	1,834		6,229

		54,762		55,669
Less: Accumulated depreciation		(24,463)		(10,574)
		$	30,299	$	45,095

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2024
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. Except as otherwise disclosed in this Note 10, "Commitments and Contingencies—Legal Matters", 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. Title V Air Permit Renewal Litigation In late June 2022, the New York State Department of Environmental Conservation ("NYSDEC") announced its denial of the Title V Air Permit renewal for the New York Facility. The Company filed a notice with NYSDEC in July 2022 requesting a hearing on NYSDEC’s decision. In September 2023, the administrative law judge presiding over the hearing issued a ruling with respect to the status of the parties and certain issues to be adjudicated in the hearing. The Company submitted an interim appeal with NYSDEC thereafter challenging such ruling with a motion to stay the broader appeals process while the interim appeal was being resolved. On May 8, 2024, the Company's interim appeal to NYSDEC and request for an adjudicatory hearing were ultimately denied, and the June 2022 non-renewal of the Company's Title V Air Permit was affirmed by NYSDEC’s Regional Director for Region 7, which rendered NYSDEC’s decision final for purposes of seeking judicial review. On August 15, 2024, the Company filed a verified petition and complaint pursuant to Article 78 of the New York Civil Practice Law and Rules against NYSDEC in New York Supreme Court, Yates County (the "Court"), seeking declaratory and injunctive relief relating to NYSDEC's denial of the Company's renewal application for the New York Facility, including, among other things, to (i) annul NYSDEC's June 2022 denial of the Company's renewal application and the May 8, 2024 affirmation of such denial by NYSDEC's Regional Director for Region 7; (ii) issue certain declaratory judgments with respect to NYSDEC's interpretation of the New York Climate Leadership and Community Protection Act on which the denial of the Company's renewal application was predicated; and (iii) enjoin NYSDEC from taking any action to request that the New York Facility cease operations. On August 20, 2024, the Company submitted a motion to the Court by Order to Show Cause seeking a temporary restraining and preliminary injunction (the “TRO Request”) permitting the New York Facility to continue operations during the pendency of the Article 78 proceeding. Subsequent to submission of the TRO Request, Greenidge and NYSDEC agreed to a briefing schedule with the respect to the TRO Request, with a hearing before the Court which occurred in late October 2024. In connection with the agreed-upon briefing schedule, NYSDEC agreed that Greenidge need not (i) cease operations of any air contamination sources located at the New York Facility, (ii) render such air contamination sources inoperable, or (iii) relinquish the Title V Air Permit until November 1, 2024 (the "November 1 Stay"). On October 29, 2024, a hearing was held before the Court and a stipulation on the record was entered into between the Company and NYSDEC, agreeing to extend the November 1 Stay through November 14, 2024 (the “November 14 Stay”). On November 14, 2024, the Court issued a decision (the “November 14 Decision”) on the Article 78 proceeding (i) annulling the denial of the Renewal Application and NYSDEC’s order to shut down the New York Facility; (ii) finding that, in utilizing its authority to issue the denial of the Renewal Application, NYSDEC acted in a manner that was both affected by errors of law and arbitrary and capricious; and (iii) remanding the matter to NYSDEC for further proceedings consistent with the November 14 Decision. On December 13, 2024, the Company filed a notice of appeal with the Appellate Division of the Supreme Court of the State of New York, Fourth Judicial Department (the “Fourth Department”), appealing the November 14 Decision to the extent that the Court: (i) erred in holding that NYSDEC had the authority to deny the Renewal Application pursuant to Section 7(2) of the CLCPA and Part 621 of Title 6 of the New York Code of Rules & Regulations; (ii) failed to define the term “statement of justification” or declare the scope of analysis required by that Section 7(2) requirement, which definition and scope was a critical component of Greenidge’s Article 78 challenge of NYSDEC’s Final Decision, and was included in Greenidge’s request for declaratory judgment; (iii) erred in holding that the analytical framework required by Section 7(2) of the CLCPA can be compartmentalized, such that NYSDEC need not even consider mitigation proposals with respect to its inconsistency analysis or as to the purported “justification” element of the CLCPA; and (iv) erred in finding that NYSDEC’s determination, that approving the Renewal Application would be inconsistent with the CLCPA, was rational. Prior to that time, on December 9, 2024, the Administrative Law Judge (“ALJ”) assigned to the Greenidge administrative proceedings before NYSDEC’s Office of Hearings and Mediation Services (“OHMS”) notified the parties of its intent to hold a status conference given the Court’s remittance of the matter back to the Department., which was held on December 16, 2024. On December 19, 2024, the Company submitted a motion by Order to Show Cause to the Court requesting a stay of NYSDEC’s administrating proceedings with respect to the Renewal Application, which was denied on January 24, 2025. On January 27, 2025, the Company submitted a motion by Order to Show Cause to the Fourth Department requesting a stay of NYSDEC’s administrating proceedings with respect to the Renewal Application, which motion was denied on February 24, 2025. On February 7, 2025, the Company submitted a renewed appeal of the Issues Ruling to NYSDEC’s Commissioner, and further appealed the ALJ’s determination that the Renewal Application must proceed to an adjudicatory hearing rather than revert back to NYSDEC Staff. As the Company believes NYSDEC Regional Director’s May 8, 2024 decision failed to reach the merits of our initial appeal of the Issues Ruling on November 13, 2023, several issues raised by Greenidge in such appeal were never reached and left unaddressed in advance of the ALJ’s decision to continue the administrating proceeding with respect to the Renewal Application. The decision on such renewed appeal has yet to be determined. The legal and administrative challenges with respect to the Renewal Application have, and will continue, to cause the Company to incur additional costs and result in the diversion of management attention, which could adversely affect the Company's business, financial condition and results of operations. The Company expects that the judicial proceedings related to the challenge of NYSDEC’s denial of the Company's Title V Air Permit renewal application may take a number of years to fully resolve, and there can be no assurance that the Company's efforts will be successful. The Company's inability to succeed in securing a renewal of the Company's Title V Air Permit for the New York Facility could have a material adverse effect on the Company's business, financial condition, and operating results, and its ability to meet its long-term debt obligations. See Note 2, “Summary of Significant Accounting Policies,” in the Notes to Condensed Consolidated Financial Statements. Environmental Liabilities The Company has a coal combustion residual ("CCR") liability associated with the closure of a coal ash pond located on the Company's property in Torrey, New York. In accordance with ASC 410-30, the Company has a liability of $17.3 million and $17.3 million as of December 31, 2024 and 2023, respectively. CCRs are subject to federal and state requirements. In October 2023, the Company completed the necessary steps to officially cease use of the coal ash pond. Following this occurring, the Company is required to complete the remediation of the coal ash pond CCR by November 2028 and will perform the work in stages over the next four years. 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. 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 $13.4 million and $12.9 million as of December 31, 2024 and 2023, respectively, which includes a charge of $0.5 million and $2.4 million for the years ended December 31, 2024 and 2023, respectively, related to a remeasurement increase. 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 liability has been determined based on estimated costs to remediate as well as post-closure costs which are assumed over an approximate 30-year period and assumes an annual inflation rate of 2.3%. Commitments The Company entered into a contract with Empire Pipeline Incorporated in September 2020 which 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.

EQUITY BASED COMPENSATION - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Options
Outstanding, beginning balance (in shares)	458,982
Granted (in shares)	25,000
Forfeited (in shares)	(266)
Expired (in shares)	(1,224)
Outstanding, ending balance (in shares)	482,492	458,982
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, beginning balance (in dollars per share)	$ 16.59
Weighted average exercise price per share, granted (in dollars per share)	3.00	$ 4.94
Weighted average exercise price per share, forfeited (in dollars per share)	62.50
Weighted average exercise price per share, expired (in dollars per share)	63.52
Weighted average exercise price per share, ending balance (in dollars per share)	$ 15.75	$ 16.59
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Exercisable as of end of period (in shares)	335,316
Exercisable, weighted average exercise price per share as of end of period (in dollars per share)	$ 19.07
Outstanding, weighted average remaining contractual life	7 years 10 months 24 days
Exercisable, weighted average remaining contractual life as of end of period	7 years 7 months 6 days
Outstanding, aggregate intrinsic value as of end of period	$ 0
Exercisable, aggregate intrinsic value, as of end of period	$ 0

EQUITY BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Millions		1 Months Ended		12 Months Ended
	Apr. 26, 2024 $ / shares	Nov. 30, 2024 shares	Apr. 30, 2023 shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($)	Oct. 31, 2022 shares	Feb. 28, 2021 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion ratio			2
Number of shares registered (in shares) \| shares						307,684
Vesting period (in years)				3 years
Granted (in shares) \| shares				25,000
Share based compensation arrangement, expiration period (in years)				10 years
Incremental compensation cost \| $				$ 0.2
Risk-free interest rate	4.67%			4.50%	4.50%
Expected term (years)	8 years 5 months 15 days			5 years 7 months 6 days	10 years
Exercise price (in dollars per share) \| $ / shares	$ 13.20
Expected volatility	133.96%			109.00%	211.00%
Expected dividend yield	0.00%			0.00%	0.00%
Stock-based compensation expense \| $				$ 2.2	$ 2.3
RSAs & RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares based payment arrangement, equity instrument other than option, granted in period (in shares) \| shares				392,028
Fair market value of the awards granted \| $				$ 1.5	0.2
Unrecognized compensation cost \| $				$ 0.3
Weighted average vesting period (in years)				1 year
Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period (in years)				2 years
Shares based payment arrangement, vesting rights percentage (as percent)				50.00%
Unrecognized compensation cost \| $				$ 0.8
Weighted average vesting period (in years)				1 year 4 months 24 days
Fair market value of award, options granted \| $				$ 0.1	$ 0.5
2021 Equity Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance (in shares) \| shares		1,583,111	883,111				383,111
Number of additional shares authorized (in shares) \| shares		700,000	500,000
2021 Equity Plan \| RSAs & RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares based payment arrangement, equity instrument other than option, granted in period (in shares) \| shares				392,028
Vesting period (in years)				2 years

FAIR VALUE

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE

The Company follows the guidance in ASC Topic 820, Fair Value Measurement. For assets and liabilities measured at fair value on a recurring and nonrecurring basis, a three-level hierarchy based upon observable and unobservable inputs is used to arrive at fair value. The Company uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

•Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

•Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

•Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

As of December 31, 2024 and 2023, the carrying amount of accounts receivable, prepaid expenses and other assets, income tax receivable, emissions and carbon offset credits, income tax receivable, accounts payable, accrued expenses, accrued emissions expense, and other short-term liabilities approximated their fair value due to their relatively short maturities.


	December 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Prepaid expenses and current other assets:
Warrant asset	$	—	$	—	$	477	$	477

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Digital assets	$	6,950	$	—	$	—	$	6,950

Warrant Asset

The fair value of the warrant asset was estimated by utilizing a Black-Scholes-Merton option pricing model. The inputs into the Black-Scholes-Merton option pricing model included significant unobservable inputs. The following table provides quantitative information regarding the Level 3 fair value inputs (see Note 6, "Stockholders' Deficit" for additional information):


	December 31, 2023
Stock price	$	4.83
Risk-free interest rate	5.14		%
Volatility	172.64		%
Remaining term (in years)	1.00
Expected dividend yield	—		%

Assets Measured on a Nonrecurring Basis

Assets that are measured at fair value on a nonrecurring basis are remeasured when carrying value exceeds fair value. This includes the evaluation of long-lived assets. Where an indication of an impairment exists, the Company’s estimates of fair value of long-lived assets require the use of significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances that might impact the long-lived assets’ operations in the future and are therefore uncertain.

During the year ended December 31, 2024 and 2023, the Company recognized impairment charges of $0.2 million and $4.0 million, respectively, of property and equipment, net.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

PROPERTY AND EQUIPMENT, NET - Narrative (Details) $ in Thousands				12 Months Ended
	Nov. 27, 2024 USD ($) a	Apr. 10, 2024 USD ($) a	Nov. 09, 2023 USD ($) a MW	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Property Plant And Equipment [Line Items]
Depreciation expense				$ 13,500	$ 13,600
Purchase price of land acquired		$ 1,450
Loss (gain) on sale of assets				641	$ (9,903)
Property, plant and equipment sold				3,700
Proceeds from sale of property, plant and equipment				3,100
Extinguishment of debt				80,300
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]					Loss (gain) on sale of assets
Impairment of long-lived assets				$ 169	$ 4,000
Discontinued Operations, Disposed of by Sale \| South Carolina Datacenter
Property Plant And Equipment [Line Items]
Associated power in facility sold \| MW			44
Area of land sold \| a	152		22
Consideration received			$ 28,000
Cash acquired from disposal	$ 12,100		4,500
Bonus payments earned			1,600
Gain on disposal					$ 8,200
Disposal group, including discontinued operation, consideration from sale, profit participation percentage	8.00%
Discontinued Operations, Disposed of by Sale \| South Carolina Datacenter \| Senior Notes Due January 2025 \| Senior Notes
Property Plant And Equipment [Line Items]
Extinguishment of debt			17,700
Discontinued Operations, Disposed of by Sale \| South Carolina Datacenter \| Secured Promissory Note \| Secured Debt
Property Plant And Equipment [Line Items]
Extinguishment of debt			$ 4,100
Columbus, Mississippi
Property Plant And Equipment [Line Items]
Area of land purchased \| a		12
Columbus, Mississippi \| Industrial Warehouse
Property Plant And Equipment [Line Items]
Area of real estate property \| a		73,000
South Carolina, United States
Property Plant And Equipment [Line Items]
Area of real estate property \| a			152

DIGITAL ASSETS - Digital Assets Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Crypto Asset [Roll Forward]
Beginning balance at fair value	$ 369
Additions	19,061
Dispositions	(14,634)
Gain on digital assets	2,154	$ 0
Ending balance	$ 6,950	$ 369

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation

The consolidated financial statements reflect the Company's accounts and operations and those of its subsidiaries. All significant intercompany accounts and transactions have been eliminated.

Liquidity

However, the Company’s projected operating cash flows are not sufficient in the long-term to meet the existing long-term debt obligations.

Use of estimates

Significant Accounting Policies

Segment Reporting

Discontinued Operations

The contract for Support.com's largest customer was not renewed upon its expiration on December 31, 2022. As a result of this material change in the business, management and the Board of Directors made the determination to consider various alternatives for Support.com, including the disposition of assets. As of December 31, 2022, the Company classified the Support.com business as held for sale and discontinued operations in these consolidated financial statements as a result of its strategic shift to strictly focus on its cryptocurrency mining, datacenter hosting and power generation operations.

Cash and Cash Equivalents

Digital Assets

Accounts Receivable

revenues. We have not experienced any historic credit losses with our power or hosting customers and therefore, we determined that no allowance for doubtful accounts is required for the years ended December 31, 2024 and 2023.

Emissions Expense and Credits

The RGGI credits are recorded on a first in, first out ("FIFO") basis. The Company incurred emissions expense of $8.7 million and $6.5 million for the years ended December 31, 2024 and 2023, respectively, which was allocated between cost of revenue - cryptocurrency mining, cost of revenue - datacenter hosting and cost of revenue - power and capacity, based on the relative percentage of MWh consumed for each, in the accompanying Consolidated Statements of Operations and Comprehensive Loss.

Property and Equipment, net


Asset Class			Estimated Useful Lives
Plant infrastructure			10 years
Miners			3 years
Miner facility infrastructure			10 years

Equipment			5 years
Software			3 years

Valuation of Long-Lived Assets

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. The Company recognized a noncash impairment charge of $0.2 million and $4.0 million for the years ended December 31, 2024 and 2023, respectively. See Note 4, "Property and Equipment, Net" for additional information.

Investments in Equity Securities

impairment charges recognized for the year ended December 31, 2023. See Note 6, "Stockholders' Deficit" for additional information.

Derivative Financial Instruments

Leases

Environmental Liability

Revenue Recognition

•Step 1: Identify the contract, or contracts, with the customer;

•Step 2: Identify the performance obligations in the contract;

•Step 3: Determine the transaction price;

•Step 4: Allocate the transaction price to the performance obligations in the contract; and

•Step 5: Recognize revenue when, or as, the Company satisfies a performance obligation.

If a good or service is not distinct, the good or service is combined with other promised goods or services until a bundle of goods or services is identified that is distinct.

•Variable consideration;

•Constraining estimates of variable consideration;

•The existence of a significant financing component in the contract;

•Noncash consideration; and

•Consideration payable to a customer.

The Company recognizes amounts prepaid by customers in excess of recognizable revenue as contract liabilities on the Consolidated Balance Sheets.

Cryptocurrency Mining Revenue

Power and Capacity Revenue

Datacenter Hosting Revenue

Cryptocurrency Mining Cost of Revenue

Datacenter Hosting Cost of Revenue

Power and Capacity Cost of Revenue

Selling, General and Administrative Expenses

Selling, general and administrative expenses consist primarily of administrative payroll and benefits, business development costs, professional fees, and insurance.

Stock-Based Compensation

Risk-Free Interest Rate– The Company bases the risk-free interest rate on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent remaining term.

Income Taxes

Income (Loss) Per Share

Fair Value Measurements

•Level 1 – inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 3 – inputs to valuation models are unobservable and/or reflect the Company’s market assumptions.

Recent Accounting Pronouncements Not Yet Adopted

Recent Accounting Pronouncements Adopted

INCOME TAXES

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of loss from continuing operations before the benefit from income taxes are as follows:


	For the Year Ended December 31,
$ in thousands	2024		2023
Domestic	$	(19,854)	$	(29,039)
Foreign	—		—
Total	$	(19,854)	$	(29,039)

The components of the benefit from income taxes from continuing operations consist of the following:


	For the Year Ended December 31,
$ in thousands	2024		2023
Current tax provision:
Federal	$	—	$	—
State	(69)		—
Foreign	—		—
Total current tax benefit	(69)		—
Deferred tax provision:
Federal	—		—
State	—		—
Foreign	—		—
Total deferred tax provision	—		—
Total benefit from income taxes	$	(69)	$	—

A reconciliation of the amounts at U.S. federal statutory tax rate to the Company’s effective tax rate for continuing operations is as follows:


	For the Year Ended December 31,
$ in thousands	2024		2023
Benefit at federal statutory rate	$	(4,170)	$	(6,248)
State income taxes, net of federal tax benefits	(301)		—
Change in valuation allowance	4,430		(13,002)
Other, net	(28)		19,250
Benefit from income taxes	$	(69)	$	—

The Company’s effective tax rate of 0.35% for the year ended December 31, 2024 was lower than the U.S. federal statutory income tax rate of 21% primarily due to a change in the valuation allowance and state taxes.

The Company’s effective tax rate of 0.0% for the year ended December 31, 2023 was lower than the U.S. federal statutory income tax rate 21% primarily due to a change in the valuation allowance and state taxes.


	As of December 31,
$ in thousands	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	38,263	$	40,132
Intangibles	656		960
Stock-based compensation	765		740
Capitalized costs	6,179		7,484
Interest Expense Limitation Carryforward	8,024		7,035
Environmental liabilities	4,184		4,492
Fixed Assets	594		—
Other	4,085		3,908
Gross deferred tax assets	62,750		64,751
Less: valuation allowance	(62,285)		(63,681)
Deferred tax assets, net	465		1,070

Deferred tax liabilities:
Investment in partnership	—		—
Property and equipment	—		(1,070)
Other	(465)		—
Deferred tax liabilities	(465)		(1,070)
Total net deferred tax assets	$	—	$	—

As of December 31, 2024, the Company had net operating loss carryforwards ("NOL") of approximately $159.6 million for U.S. federal income purposes, of which $1.4 million begins to expire in 2025. The Company also had net operating loss carryforwards for state income tax purposes of approximately $94.3 million, which begin to expire in 2025. U.S. Federal NOLs incurred in or after 2018 have an indefinite carryforward period, which can be offset by 80% of future taxable income in any given year.

Of the total federal NOLs, $58.4 million were acquired with Support.com, Inc. in 2021 and are subject to Section 382 limitation. Utilization of the Company's net operating loss and tax credit carryforwards can become subject to a substantial annual limitation due to the ownership change limitations provided by Section 382 and 383 of the Internal Revenue Code and similar state provisions. Such an annual limitation could result in the expiration or elimination of the net operating loss and tax credit carryforwards before utilization. The Company has performed an analysis of its changes in ownership under Section 382 of the Internal Revenue Code. Management currently believes that the Section 382 limitation will limit utilization of certain acquired net operating loss and tax credit carryforwards of Support.com and may defer the realization of the tax benefit associated with the acquired tax attributes from Support.com. The Company has ended all Support.com operations as of December 31, 2023; however, we continue to retain the existing domestic tax positions of Support.com.

In assessing the need for a valuation allowance, the Company considered whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company evaluated its ability to realize the tax benefits associated with deferred tax assets by analyzing the relative impact of all the available positive and negative evidence regarding the Company’s forecasted taxable income, the reversal of existing deferred tax liabilities, taxable income in prior carry-back years (if permitted) and the availability of tax planning strategies. To the extent the Company does not consider it is more likely than not that a deferred tax asset will be recovered, valuation allowance is established. On the basis of this evaluation, as of December 31, 2024, the Company recorded a full valuation allowance on its net deferred tax assets of $62.3 million, as it did not meet the more likely than not threshold required under ASC 740-10-30. The main form of negative evidence is the three-year cumulative losses.

The Company files U.S., state and foreign income tax returns in jurisdictions with varying statutes of limitations. The federal statute of limitation is three years and the state and foreign statutes of limitations are three to four years. Due to net operating loss carryforwards, the Company’s income tax returns remain open and subject to examination for tax years 2005 and thereafter by federal and state tax authorities. The 2021 through 2023 tax years generally remain open and subject to audit by foreign tax authorities.

The Company recognizes the tax benefit from uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as part of the benefit from income taxes. As of December 31, 2024, the Company has not recorded any amounts for unrecognized tax benefits. The Company’s management does not expect that total amount of unrecognized tax benefits will materially change over the next 12 months.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Effective income tax rate as a percentage (as percent)	0.35%	0.00%
Deferred tax assets, valuation allowance	$ 62,285	$ 63,681
U.S.
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	159,600
Net operating loss carryforwards, subject to expiration	1,400
U.S. \| Support Com
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards			$ 58,400
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 94,300

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Greenidge Blocker Corp
Related Party Transaction [Line Items]
Costs reimbursed	$ 0.0	$ 0.2
Atlas Holdings LLC \| New York State Department of Environmental Conservation
Related Party Transaction [Line Items]
Letters of credit outstanding, amount	5.0	5.0
Atlas Holdings LLC \| Empire Pipeline Incorporated
Related Party Transaction [Line Items]
Letters of credit outstanding, amount	$ 3.6	$ 3.6
Greenidge Generation Holdings Inc \| Atlas Holdings LLC And Affiliates
Related Party Transaction [Line Items]
Voting power of outstanding capital stock (as percent)	72.10%

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Summary of Financial Information for Discontinued Operations

Major classes of assets and liabilities consist of the following:


	As of December 31,
$ in thousands	2024	2023
Assets:

Prepaid expenses and other current assets	—	47
Current assets held for sale	—	47


Other assets	—	454
Long-term assets held for sale	—	454
Loss on classification to held for sale	—	(501)
Assets held for sale	—	—

Liabilities:
Accounts payable	—	21
Accrued expenses	—	462
Current liabilities held for sale	—	483



Liabilities held for sale	—	483

Financial results from discontinued operations consist of the following:


	For the Year Ended December 31,
$ in thousands	2024		2023
Revenue	$	—	$	4,223
Cost of revenue - services and other (exclusive of depreciation and amortization)	—		(4,436)

Selling, general and administrative	—		(3,388)
Merger and other costs	—		(684)
Gain on asset disposal	—		4,162
Loss on assets classified as held for sale	—		(501)

Other (loss) income, net	—		(179)
Pretax loss of discontinued operations	—		(803)
Provision for (benefit from) income taxes	—		(332)
Loss from discontinued operations, net of tax	$	—	$	(471)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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