Fourth Quarter 2021 Highlights
- Total revenue increased to $44.3
million, up 617% year-over-year
- Cryptocurrency datacenter revenue increased to $33.7 million, up 676% year-over-year
- GAAP net loss was $41.4 million
for the fourth quarter, including a $42.3
million noncash goodwill impairment charge related to the
Support.com business, as compared to a net loss of $0.8 million in the prior year
- Adjusted EBITDA of $19.1 million
– in line with February 2022 guidance
of $18 million to $20 million
- Adjusted EBITDA margin of 43.2%, compared to 19.2% in the prior
year
- Produced 609 bitcoins in the fourth quarter
- Mining capacity of approximately 1.4 EH/s from 17,300 miners as
of December 31, 2021
- Adjusted net income of $7.6
million
- Completed acquisition of Spartanburg,
SC site and commenced operations at the facility within one
week
- Cash, short term investments and cryptocurrency holdings of
$84.4 million as of December 31, 2021
Full Year 2021 Highlights
- Total revenue increased to $107.3
million, up 433% year-over-year
- Cryptocurrency datacenter revenue increased to $87.9 million, up 575% year-over-year
- GAAP Net Loss of $44.5 million,
including the $42.3 million noncash
goodwill impairment charge, as compared to a net loss of
$3.3 million in the prior year
- Adjusted EBITDA of $52.9 million
– consistent with $52 million
estimate provided in March of 2021
- Adjusted net income of $26.8
million
- Produced 1,866 bitcoins during 2021
First Quarter 2022 Highlights
- Mining fleet as of March 31, 2022
consists of approximately 19,400 miners with approximately 1.6 EH/s
of capacity
- 17% of hash rate capacity located at Spartanburg, SC less than four months after
operations commenced at facility
- 29,600 additional miners contracted for delivery during the
balance of 2022 from Bitmain representing approximately 3.1 EH/s of
additional capacity
- Received and deployed approximately 11,800 miners in last
twelve months with 97% deployed as scheduled
- Over $115 million of liquidity as
of March 31, 2022 consisting of over
$90 million in cash and fair value of
crypto holdings and over $25 million
in undrawn financing commitments
- Over $135 million of cash on
deposit with Bitmain as of March 31,
2022
FAIRFIELD, Conn., March 31,
2022 /PRNewswire/ -- Greenidge Generation Holdings
Inc. (NASDAQ: GREE) ("Greenidge"), a vertically integrated
cryptocurrency datacenter and power generation company, today
announced financial and operating results for the fourth quarter
and fiscal year ended December 31,
2021 and provided an update regarding the first quarter of
2022.
"Consistent with the estimates we released in February,
Greenidge demonstrated another strong quarter of significant
revenue growth and substantial Adjusted EBITDA generation," said
Jeff Kirt, Chief Executive Officer
of Greenidge. "During the quarter, in addition to commencing mining
operations at our Spartanburg, SC
facility within a week of its acquisition, our operations team
continued to execute the deployment of our fleet as scheduled.
After just four months of operations, our Spartanburg facility houses approximately 17%
of our datacenter capacity."
"Since the end of the year, we have fortified our balance sheet
with non-dilutive capital and ended the first quarter with over
$115 million in liquidity. This puts
us on solid footing to execute the deployment of the remaining
fleet of over 29,000 miners we have delivering throughout the
balance of 2022 from Bitmain, which will bring our total capacity
to approximately 4.7 EH/s. Over the last twelve months, our
in-house operations team has deployed almost 12,000 new miners and
energized substantially all of the equipment into production within
days or even hours of receipt. Despite the well-known challenges in
the global air freight market, 97% of the machines were received
and deployed as scheduled."
Fourth Quarter 2021 Financial Results
$ in thousands,
except Adjusted EBITDA margin
|
|
Q4
2021
|
|
Q4
2020
|
|
Variance
|
Total
Revenue
|
|
$
44,284
|
|
$
6,177
|
|
616.9%
|
Cryptocurrency
datacenter revenue
|
|
$
33,680
|
|
$
4,343
|
|
675.5%
|
Power and capacity
revenue
|
|
$
2,173
|
|
$
1,834
|
|
18.5%
|
Adjusted
EBITDA
|
|
$
19,139
|
|
$
1,186
|
|
1514.3%
|
Adjusted EBITDA
margin
|
|
43.2%
|
|
19.2%
|
|
125.2%
|
Greenidge's revenue for the fourth quarter was $44.3 million, up 617% compared to the prior
year. Cryptocurrency Datacenter revenue was $33.7 million, up 676% versus the prior year, and
Power and Capacity revenue was $2.2
million, up 19% compared to the prior year. The merger with
Support.com on September 14, 2021
added approximately $8.4 million to
fourth quarter revenue.
Net loss was $41.4 million for the
fourth quarter as compared to a net loss of $0.8 million in the prior year. The fourth
quarter included a $42.3 million
noncash goodwill impairment charge relating to the Support.com
business, a $3.6 million
remeasurement adjustment associated with an environmental
liability, $2.2 million of expansion
costs and $1.2 million of merger and
public company filing costs. Excluding these items, Adjusted net
income was $7.6 million, compared to
Adjusted net loss of $0.3 million in
the fourth quarter of 2020.
Adjusted EBITDA for the fourth quarter was $19.1 million, or 43.2% of revenue, compared to
the prior year fourth quarter of $1.2
million, or 19.2% of revenue. The significant and continuing
expansion of cryptocurrency datacenter operations drove the growth
in Adjusted EBITDA and Adjusted EBITDA margin.
As of December 31, 2021, Greenidge
had cash, short term investments and fair value of cryptocurrency
holdings of $84.4 million.
Note, Adjusted net income, adjusted EBITDA and adjusted EBITDA
margin are non-GAAP measures. See the tables attached to this press
release for a reconciliation from GAAP to non-GAAP measures and
Use of Non-GAAP Information below for more details
Cryptocurrency Datacenter Commentary
|
|
Fourth
Quarter:
|
|
|
Full Year:
|
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
|
Bitcoins
produced
|
|
|
609
|
|
|
|
228
|
|
|
|
1,866
|
|
|
|
1,146
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greenidge produced 609 bitcoins during the fourth quarter,
compared to 228 bitcoins in the fourth quarter of the prior year.
For the full year of 2021, Greenidge produced 1,866 bitcoins, which
compared to 1,146 bitcoins in 2020.
As of December 31, 2021, Greenidge
had approximately 17,300 miners with an aggregate hash rate
capacity of approximately 1.4 EH/s and has additional purchase
commitments that are expected to bring the company's total capacity
to approximately 49,000 miners and 4.7 EH/s by the end of 2022.
Capital Discussion
During the fourth quarter of 2021, Greenidge successfully closed
$72.2 million of public offerings of
senior unsecured notes due in 2026, netting proceeds of
$66.9 million after commissions,
discounts and issuance costs.
During the fourth quarter of 2021, Greenidge also successfully
raised $47.4 million in net proceeds
through the sale of 2.13 million shares of its class A common
stock, pursuant to the previously announced equity purchase
agreement. Through March 31, 2022,
the Greenidge has raised $51.4
million in net proceeds through the sale of 2.55 million
shares of its class A common stock pursuant to the equity purchase
agreement.
South Carolina Expansion
During the fourth quarter of 2021, Greenidge completed the
acquisition of its facility in Spartanburg, SC, including over 750,000 square
feet of buildings and 175 acres of land. The transaction closed on
December 7, 2021 and Greenidge
commenced operations at the site within a week of the
acquisition.
First Quarter 2022 Update
Greenidge anticipates having approximately 19,400 miners at its
datacenters in New York and
South Carolina as of March 31, 2022 with approximately 1.6 EH/s of
capacity. Approximately 17% of the hash rate capacity is located at
Greenidge's second facility in Spartanburg, SC. The company has approximately
29,600 additional miners scheduled for delivery from Bitmain
throughout the balance of 2022 representing approximately 3.1 EH/s
in additional capacity and has over $135
million of cash on deposit with Bitmain associated with the
purchase agreements for these miners.
In the twelve months ended March 31,
2022, Greenidge has taken delivery of approximately 11,800
miners, of which 97% arrived as scheduled, with only approximately
370 delayed due primarily to freight vendor performance and a brief
Covid-related lockdown in Malaysia
during 2021.
Greenidge has liquidity of over $115
million as of March 31, 2022
consisting of over $90 million in
cash and fair value of cryptocurrency holdings and over
$25 million in undrawn financing
commitments.
In late March, at the request of the New York State Department of Environmental
Conservation (the "Department"), Greenidge agreed to extend, for a
second time, the deadline for the Department to complete its review
of the renewal application for the Title V Air Permit at the
company's New York facility. The
application was deemed complete by the Department in September 2021 and this second extension is to
June 30, 2022. Greenidge continues to
operate in New York without
interruption during this period and intends to continue to work
constructively with the Department to finalize a permit renewal.
Greenidge notes that it is not uncommon for renewal applicants to
operate for extended periods of time, sometimes years, prior to
finalizing a permit renewal and additional future extensions may be
requested.
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a
vertically integrated cryptocurrency datacenter and power
generation company. Greenidge is committed to 100% carbon-neutral
datacenter operations at all of its locations by utilizing
low-carbon sources of energy and offsetting its carbon
footprint.
Use of Non-GAAP Information
To provide investors and others with additional information
regarding the financial results of Greenidge (the "Company"), the
Company has disclosed in this press release certain non-GAAP
operating performance measures of Adjusted EBITDA, Adjusted EBITDA
margin and Adjusted net income. Adjusted EBITDA is defined as
earnings before interest, taxes and depreciation and amortization,
which is then adjusted for stock-based compensation and other
special items determined by management, including, but not limited
to costs associated with the merger with Support.com, costs of
becoming a public company (which included the costs of a corporate
reorganization from an LLC, public registration of shares and
associated costs), business expansion costs, impairment of goodwill
and remeasurement of environmental liability. Adjusted EBITDA
margin is the percentage of Adjusted EBITDA of revenue. Adjusted
net income (loss) is net loss adjusted for the after-tax impacts of
special items determined by management, including but not limited
to costs associated with the merger with Support.com, costs of
becoming a public company (which included the costs of a corporate
reorganization from an LLC, public registration of shares and
associated costs), business expansion costs, impairment of goodwill
and remeasurement of environmental liability. These non-GAAP
financial measures are a supplement to and not a substitute for or
superior to, the Company's results presented in accordance with
U.S. GAAP. The non-GAAP financial measures presented by the Company
may be different from non-GAAP financial measures presented by
other companies. Specifically, the Company believes the non-GAAP
information provides useful measures to investors regarding the
Company's financial performance by excluding certain costs and
expenses that the Company believes are not indicative of its core
operating results. The presentation of these non-GAAP financial
measures is not meant to be considered in isolation or as a
substitute for results or guidance prepared and presented in
accordance with U.S. GAAP. A reconciliation of the non-GAAP
financial measures to U.S. GAAP results is included herein.
Forward-Looking Statements
This press release includes certain statements that may
constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical fact are
forward-looking statements for purposes of federal and state
securities laws. These forward-looking statements involve
uncertainties that could significantly affect Greenidge's financial
or operating results. These forward-looking statements may be
identified by terms such as "anticipate," "believe," "continue,"
"foresee," "expect," "intend," "plan," "may," "will," "would,"
"could," and "should," and the negative of these terms or other
similar expressions. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance.
Forward-looking statements in this press release include, among
other things, statements regarding the business plan, business
strategy and operations of Greenidge in the future. In addition,
all statements that address operating performance and future
performance, events or developments that are expected or
anticipated to occur in the future, such as statements concerning
(i) the delivery of miners currently on order with Bitmain, (ii)
the development of facilities in South
Carolina, (iii) future mining capacity, (iv) future
electrical capacity, (v) the ability to offset carbon emissions,
(vi) future liquidity, (vii) the ability to obtain future debt or
equity financing and (viii) the Department Title V Air permit
renewal process, are forward-looking statements. Forward-looking
statements are subject to a number of risks, uncertainties and
assumptions. Matters and factors that could cause actual results to
differ materially from those expressed or implied in such
forward-looking statements include but are not limited to the
matters and factors described in Part II, Item 1A. "Risk Factors"
of Greenidge's Quarterly Reports on Form 10-Q, and its other
filings with the Securities and Exchange Commission. Consequently,
all of the forward-looking statements made in this press release
are qualified by the information contained under this caption. No
assurance can be given that these are all of the factors that could
cause actual results to vary materially from the forward-looking
statements in this press release. You should not put undue reliance
on forward-looking statements. No assurances can be given that any
of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do occur, the actual results,
performance, or achievements of Greenidge could differ materially
from the results expressed in, or implied by, any forward-looking
statements. All forward-looking statements speak only as of the
date of this press release and Greenidge does not assume any duty
to update or revise any forward-looking statements included in this
press release, whether as a result of new information, the
occurrence of future events, uncertainties or otherwise, after the
date of this press release.
GREENIDGE GENERATION
HOLDINGS INC. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
|
FOR THE THREE MONTHS
ENDED DECEMBER 31, 2021 AND 2020
|
Amounts denoted in
000's (except per share data)
|
|
|
Three Months
Ended:
|
|
|
|
|
December 31,
2021
|
|
December 31,
2020
|
|
|
Variance
|
REVENUE:
|
|
|
|
|
|
|
|
Cryptocurrency
datacenter
|
|
$
33,680
|
|
$
4,343
|
|
|
676%
|
Power and
capacity
|
|
2,173
|
|
1,834
|
|
|
18%
|
Services and
other
|
|
8,431
|
|
-
|
|
|
N/A
|
Total
revenue
|
|
44,284
|
|
6,177
|
|
|
617%
|
OPERATING COSTS AND
EXPENSES
|
|
|
|
|
|
|
|
Cost of revenue -
cryptocurrency datacenter
(exclusive of depreciation and amortization)
|
|
7,655
|
|
1,499
|
|
|
411%
|
Cost of revenue - power
and capacity
(exclusive of depreciation and amortization)
|
|
2,543
|
|
2,420
|
|
|
5%
|
Cost of revenue -
Services and other
(exclusive of depreciation and amortization)
|
|
4,576
|
|
-
|
|
|
N/A
|
Selling, general and
administrative
|
|
15,139
|
|
1,450
|
|
|
944%
|
Merger and other
costs
|
|
1,177
|
|
-
|
|
|
N/A
|
Goodwill impairment
charge
|
|
42,307
|
|
-
|
|
|
N/A
|
Depreciation and
amortization
|
|
3,324
|
|
1,337
|
|
|
149%
|
Loss from
operations
|
|
(32,437)
|
|
(529)
|
|
|
6032%
|
OTHER (EXPENSE) INCOME,
NET:
|
|
|
|
|
|
|
|
Interest
expense
|
|
(2,293)
|
|
(124)
|
|
|
1749%
|
Gain on sale of digital
assets
|
|
116
|
|
112
|
|
|
4%
|
Remeasurement of
environmental liability
|
|
(3,621)
|
|
(230)
|
|
|
1474%
|
Other income (expense),
net
|
|
122
|
|
(53)
|
|
|
-330%
|
Total expense,
net
|
|
(5,676)
|
|
(295)
|
|
|
1824%
|
LOSS BEFORE INCOME
TAXES
|
|
(38,113)
|
|
(824)
|
|
|
4525%
|
Provision (benefit) for
income taxes
|
|
3,268
|
|
-
|
|
|
N/A
|
NET LOSS
|
|
$
(41,381)
|
|
$
(824)
|
|
|
4922%
|
|
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
|
|
Basic
|
|
$
(1.03)
|
|
|
|
|
|
Diluted
|
|
$
(1.03)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Net loss to Adjusted EBITDA
|
|
|
|
|
|
|
|
Net Loss
|
|
$
(41,381)
|
|
$
(824)
|
|
|
|
Provision (benefit) for
income taxes
|
|
3,268
|
|
-
|
|
|
|
Interest expense,
net
|
|
2,293
|
|
124
|
|
|
|
Depreciation and
amortization
|
|
3,324
|
|
1,337
|
|
|
|
EBITDA
|
|
(32,496)
|
|
637
|
|
|
|
Stock-based
compensation
|
|
2,296
|
|
-
|
|
|
|
Goodwill impairment
charge
|
|
42,307
|
|
-
|
|
|
|
Merger and other
costs
|
|
1,177
|
|
-
|
|
|
|
Expansion
costs
|
|
2,234
|
|
318
|
|
|
|
Remeasurement of
environmental liability
|
|
3,621
|
|
230
|
|
|
|
Adjusted
EBITDA
|
|
$
19,139
|
|
$
1,186
|
|
|
|
Adjusted
EBITDA percentage of revenue
|
|
43.2%
|
|
19.2%
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Net loss to Adjusted Net income (loss):
|
|
|
|
|
|
|
|
Net Loss
|
|
$
(41,381)
|
|
$
(824)
|
|
|
|
Goodwill impairment
charge
|
|
42,307
|
|
-
|
|
|
|
Merger & Public
Company filing costs, after tax
|
|
2,384
|
|
-
|
|
|
|
Expansion costs, after
tax
|
|
1,638
|
|
318
|
|
|
|
Remeasurement of
environmental liability, after tax
|
|
2,654
|
|
230
|
|
|
|
Adjusted Net income
(loss):
|
|
$
7,602
|
|
$
(275)
|
|
|
|
GREENIDGE GENERATION
HOLDINGS INC. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
FOR THE YEARS ENDED
DECEMBER 31, 2021 AND 2020
|
Amounts denoted in
000's (except per share data)
|
|
|
Years Ended
December 31,
|
|
|
|
|
2021
|
|
2020
|
|
Variance
|
REVENUE:
|
|
|
|
|
|
|
Cryptocurrency
datacenter
|
|
$
87,897
|
|
$
13,016
|
|
575%
|
Power and
capacity
|
|
9,428
|
|
7,098
|
|
33%
|
Services and
other
|
|
9,952
|
|
-
|
|
N/A
|
Total
revenue
|
|
107,277
|
|
20,114
|
|
433%
|
OPERATING COSTS AND
EXPENSES
|
|
|
|
|
|
|
Cost of revenue -
cryptocurrency datacenter
(exclusive of depreciation and amortization)
|
|
19,159
|
|
4,465
|
|
329%
|
Cost of revenue - power
and capacity
(exclusive of depreciation and amortization)
|
|
9,231
|
|
8,135
|
|
13%
|
Cost of revenue -
Services and other
(exclusive of depreciation and amortization)
|
|
5,430
|
|
-
|
|
N/A
|
Selling, general and
administrative
|
|
27,156
|
|
5,581
|
|
387%
|
Merger and other
costs
|
|
32,272
|
|
-
|
|
N/A
|
Goodwill impairment
charge
|
|
42,307
|
|
-
|
|
N/A
|
Depreciation and
amortization
|
|
8,855
|
|
4,564
|
|
94%
|
Loss from
operations
|
|
(37,133)
|
|
(2,631)
|
|
1311%
|
OTHER (EXPENSE) INCOME,
NET:
|
|
|
|
|
|
|
Interest
expense
|
|
(3,692)
|
|
(664)
|
|
456%
|
Gain on sale of digital
assets
|
|
275
|
|
123
|
|
124%
|
Remeasurement of
environmental liability
|
|
(3,688)
|
|
(230)
|
|
1503%
|
Other income,
net
|
|
166
|
|
112
|
|
48%
|
Total expense,
net
|
|
(6,939)
|
|
(659)
|
|
953%
|
LOSS BEFORE INCOME
TAXES
|
|
(44,072)
|
|
(3,290)
|
|
1240%
|
Provision for income
taxes
|
|
408
|
|
-
|
|
N/A
|
NET LOSS
|
|
$
(44,480)
|
|
$
(3,290)
|
|
1252%
|
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
|
Basic
|
|
$
(1.41)
|
|
|
|
|
Diluted
|
|
$
(1.41)
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Net loss to Adjusted EBITDA
|
|
|
|
|
|
|
Net Loss
|
|
$
(44,480)
|
|
$
(3,290)
|
|
|
Provision for income
taxes
|
|
408
|
|
-
|
|
|
Interest expense,
net
|
|
3,692
|
|
664
|
|
|
Depreciation and
amortization
|
|
8,855
|
|
4,564
|
|
|
EBITDA
|
|
(31,525)
|
|
1,938
|
|
|
Stock-based
compensation
|
|
3,770
|
|
-
|
|
|
Goodwill impairment
charge
|
|
42,307
|
|
-
|
|
|
Merger and other
costs
|
|
32,272
|
|
-
|
|
|
Expansion
costs
|
|
2,362
|
|
882
|
|
|
Remeasurement of
environmental liability
|
|
3,688
|
|
230
|
|
|
Adjusted
EBITDA
|
|
$
52,874
|
|
$
3,050
|
|
|
Adjusted
EBITDA percentage of revenue
|
|
49.3%
|
|
15.2%
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Net loss to Adjusted Net income (loss):
|
|
|
|
|
|
|
Net Loss
|
|
$
(44,480)
|
|
$
(3,290)
|
|
|
Goodwill impairment
charge
|
|
42,307
|
|
-
|
|
|
Merger & Public
Company filing costs, after tax
|
|
24,493
|
|
-
|
|
|
Expansion costs, after
tax
|
|
1,731
|
|
882
|
|
|
Remeasurement of
environmental liability, after tax
|
|
2,703
|
|
230
|
|
|
Adjusted Net income
(loss):
|
|
$
26,755
|
|
$
(2,178)
|
|
|
GREENIDGE GENERATION
HOLDINGS INC. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
DECEMBER 31, 2021
AND 2020
|
Amounts denoted in
$000's
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2021
|
|
December 31,
2020
|
ASSETS
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
$
82,599
|
|
$
5,052
|
|
Short term
investments
|
496
|
|
-
|
|
Digital
assets
|
476
|
|
254
|
|
Accounts
receivable
|
5,524
|
|
390
|
|
Prepaid
expenses
|
9,146
|
|
155
|
|
Emissions and carbon
offset credits
|
2,361
|
|
1,923
|
|
|
|
|
Total current
assets
|
100,602
|
|
7,774
|
LONG-TERM
ASSETS:
|
|
|
|
|
Property and equipment,
net
|
217,091
|
|
56,645
|
|
Right-of-use
assets
|
1,472
|
|
-
|
|
Intangible
assets
|
3,537
|
|
-
|
|
Goodwill
|
3,062
|
|
-
|
|
Deferred tax
assets
|
15,058
|
|
-
|
|
Other long-term
assets
|
445
|
|
148
|
|
|
|
|
Total assets
|
$
341,267
|
|
$
64,567
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
Accounts
payable
|
$
5,923
|
|
$
1,745
|
|
Accrued emissions
expense
|
2,634
|
|
2,082
|
|
Accrued
expenses
|
10,375
|
|
946
|
|
Accrued interest
expense - related party
|
-
|
|
20
|
|
Income taxes
payable
|
2,481
|
|
-
|
|
Long-term debt, current
portion
|
19,577
|
|
3,273
|
|
Notes payable - related
party
|
-
|
|
3,573
|
|
Lease obligation,
current portion
|
736
|
|
-
|
|
|
|
|
Total current
liabilities
|
41,726
|
|
11,639
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
Deferred tax
liability
|
-
|
|
-
|
|
Long-term debt, net of
current portion and deferred financing fees
|
75,251
|
|
1,364
|
|
Lease obligation, net
of current portion
|
193
|
|
-
|
|
Asset retirement
obligations
|
2,691
|
|
2,277
|
|
Environmental
liability
|
8,615
|
|
4,927
|
|
Other long-term
liabilities
|
368
|
|
-
|
|
|
|
|
Total
liabilities
|
128,844
|
|
20,207
|
STOCKHOLDERS'
EQUITY
|
212,423
|
|
44,360
|
|
|
|
|
Total liabilities and
stockholders' equity
|
$
341,267
|
|
$
64,567
|
View original
content:https://www.prnewswire.com/news-releases/greenidge-generation-reports-fourth-quarter-and-full-year-2021-results-and-provides-first-quarter-2022-update-301515359.html
SOURCE Greenidge Generation Holdings Inc.