2 years ago
Bitcoin miner Greenidge Generation (GREE) posted 4th fourth gross of $44.3 million, up 617% from a twelvemonth ago, and astir in-line with FactSet statement of $44.5 million.
Greenidge reported adjusted net earlier interest, taxes, depreciation and amortization (EBITDA) of $19.1 million, up from $1.2 cardinal a twelvemonth ago, and matching expert estimates.
The institution mined 609 bitcoin successful Q4, a 167% emergence from 228 successful the aforesaid 4th successful a twelvemonth earlier. For each 2021, Greenidge mined 1,866 bitcoin versus 1,146 successful 2020.
As of December 31, Greenidge had astir 17,300 miners with an aggregate hash complaint capableness of astir 1.4 exahash per 2nd (EH/s), and in the net merchandise reiterated hashrate guidance of 4.7 EH/s by the extremity of 2022.
The miner this period agreed to a petition by the New York State Department of Environmental Conservation to widen for a 2nd clip the deadline for the State to implicit its reappraisal of the renewal exertion for the Title V Air Permit astatine the company’s New York installation to June 30, 2022.
“Greenidge continues to run successful New York without interruption during this play and intends to proceed to enactment constructively with the Department to finalize a licence renewal,” the institution said successful the statement. “It is not uncommon for renewal applicants to run for extended periods of time, sometimes years, anterior to finalizing a licence renewal and further aboriginal extensions whitethorn beryllium requested," the miner added.
Greenidge shares are little by astir 50% year-to-date, and down 2.2% successful aft hours enactment connected Thursday evening.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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