Greenidge Generation (GREE) 10-Q 15 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	May 13, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001844971
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
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		7,076,138
8.50% Senior Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	8.50% Senior Notes due 2026
Trading Symbol	GREEL
Security Exchange Name	NASDAQ
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,733,394

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents, including restricted cash	$ 14,337,000	$ 13,312,000
Digital assets	301,000	347,000
Accounts receivable	574,000	358,000
Prepaid expenses and current other assets	2,818,000	3,864,000
Emissions and carbon offset credits	11,952,000	5,694,000
Income tax receivable	857,000	857,000
Total current assets	30,839,000	24,432,000
LONG-TERM ASSETS:
Property and equipment, net	42,055,000	45,095,000
Other long-term assets	1,675,000	1,652,000
Total assets	74,569,000	71,179,000
CURRENT LIABILITIES:
Accounts payable	2,590,000	3,495,000
Accrued emissions expense	12,256,000	10,520,000
Accrued expenses	4,266,000	6,116,000
Short-term environmental liability	663,000	363,000
Other short-term liabilities	150,000	0
Current liabilities held for sale	321,000	483,000
Total current liabilities	20,246,000	20,977,000
LONG-TERM LIABILITIES:
Long-term debt, net of deferred financing fees	68,971,000	68,710,000
Environmental liabilities	29,566,000	29,866,000
Other long-term liabilities	2,650,000	2,650,000
Total liabilities	121,433,000	122,203,000
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, 9,786,178 and 9,131,252 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	1,000	1,000
Additional paid-in capital	327,401,000	319,992,000
Cumulative translation adjustment	(348,000)	(345,000)
Common stock subscription receivable	0	(698,000)
Accumulated deficit	(373,918,000)	(369,974,000)
Total stockholders' deficit	(46,864,000)	(51,024,000)
Total liabilities and stockholders' deficit	$ 74,569,000	$ 71,179,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(Parenthetical) - $ / shares	Mar. 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)	9,786,178	9,131,252
Common stock, outstanding (in shares)	9,786,178	9,131,252

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
REVENUE:
Total revenue	$ 19,333,000	$ 15,157,000
OPERATING COSTS AND EXPENSES:
Selling, general and administrative	5,487,000	9,013,000
Depreciation	3,234,000	3,820,000
Gain on sale of assets	0	1,744,000
Total operating costs and expenses	21,208,000	20,824,000
Operating loss	(1,875,000)	(5,667,000)
OTHER INCOME (EXPENSE), NET:
Interest expense, net	(1,802,000)	(3,573,000)
Gain on sale of digital assets	59,000	398,000
Change in fair value of warrant asset	(420,000)	0
Total other expense, net	(2,163,000)	(3,175,000)
Loss from continuing operations before income taxes	(4,038,000)	(8,842,000)
Benefit from income taxes	0	0
Net loss from continuing operations	(4,038,000)	(8,842,000)
Income from discontinued operations, net of tax	94,000	671,000
Net loss	(3,944,000)	(8,171,000)
Comprehensive Loss
Net loss	(3,944,000)	(8,171,000)
Foreign currency translation adjustment	(3,000)	17,000
Comprehensive loss	$ (3,947,000)	$ (8,154,000)
Net loss per share, basic and diluted:
Net loss per share from continuing operations, basic (in dollars per share)	$ (0.43)	$ (1.66)
Net loss per share from continuing operations, diluted (in dollars per share)	(0.43)	(1.66)
Income per share from discontinued operations, basic (in dollars per share)	0.01	0.13
Income per share from discontinued operations, diluted (in dollars per share)	0.01	0.13
Net loss per share, basic (in dollars per share)	(0.42)	(1.53)
Net loss per share, diluted (in dollars per share)	$ (0.42)	$ (1.53)
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic (in shares)	9,494,000	5,343,000
Diluted (in shares)	9,494,000	5,343,000
Impairment Loss	$ 169,000	$ 0
Datacenter hosting
REVENUE:
Total revenue	9,112,000	6,944,000
OPERATING COSTS AND EXPENSES:
Cost of revenue	7,018,000	4,671,000
Cryptocurrency mining
REVENUE:
Total revenue	6,999,000	6,451,000
OPERATING COSTS AND EXPENSES:
Cost of revenue	3,671,000	3,248,000
Power and capacity
REVENUE:
Total revenue	3,037,000	1,762,000
OPERATING COSTS AND EXPENSES:
Cost of revenue	1,546,000	1,816,000
EPCM consulting services
REVENUE:
Total revenue	185,000	0
OPERATING COSTS AND EXPENSES:
Cost of revenue	$ 83,000	$ 0

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT (UNAUDITED) - USD ($) $ in Thousands	Total	Equity Purchase Agreement	Securities Purchase Agreement	Common Stock	Common Stock Equity Purchase Agreement	Common Stock Securities Purchase Agreement	Additional Paid - In Capital	Additional Paid - In Capital Equity Purchase Agreement	Additional Paid - In Capital Securities Purchase Agreement	Subscription Receivable	Cumulative Translation Adjustment	Accumulated Deficit
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2022				4,625,278
Stockholders' equity, 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	481						481
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs (in shares)				1,211,926
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs	8,096			$ 1			8,095
Restricted shares award issuance, net of withholdings (in shares)				9,275
Proceeds from stock options exercised (in shares)				133,333
Proceeds from stock options exercised	1,000						1,000
Foreign currency translation adjustment	17										17
Net loss	(8,171)											(8,171)
Stockholders' equity ending balance (in shares) at Mar. 31, 2023				5,979,812
Stockholders equity, ending balance at Mar. 31, 2023	(45,624)			$ 1			303,350			0	(340)	(348,635)
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2023				9,131,252
Stockholders' equity, beginning 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	1,070						1,070
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs (in shares)					45,269	450,300
Proceeds from sale of preferred stock, net of stock issuance costs/Shares issued to Support.com shareholders upon Merger, net of issuance costs		$ 1,038	$ 1,133					$ 340	$ 1,133	698
Restricted shares award issuance (in shares)				159,357
Issuance of warrants in connection with Securities Purchase Agreement	4,866						4,866
Foreign currency translation adjustment	(3)										(3)
Net loss	(3,944)											(3,944)
Stockholders' equity ending balance (in shares) at Mar. 31, 2024				9,786,178
Stockholders equity, ending balance at Mar. 31, 2024	$ (46,864)			$ 1			$ 327,401			$ 0	$ (348)	$ (373,918)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES FROM CONTINUING OPERATIONS:
Net loss	$ (3,944)	$ (8,171)
Income from discontinued operations	94	671
Net loss from continuing operations	(4,038)	(8,842)
Adjustments to reconcile net loss from continuing operations to net cash flow from operating activities:
Depreciation	3,234	3,820
Accrued interest added to principal	0	911
Change in fair value of warrant asset	420	0
Amortization of debt issuance costs	261	649
Impairment of long-lived assets	169	0
Gain on sale of assets	0	(1,744)
Stock-based compensation expense	1,070	481
Changes in operating assets and liabilities:
Accounts receivable	(216)	2,654
Emissions and carbon offset credits	(6,258)	300
Digital assets	46	329
Prepaids and other assets	626	1,420
Income tax receivable	0	798
Accounts payable	(317)	1,252
Accrued emissions	1,736	(970)
Accrued expenses	(1,850)	(5,101)
Other	127	3,436
Net cash flow used for operating activities from continuing operations	(4,990)	(607)
INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of and deposits for property and equipment	(1,332)	(6,459)
Proceeds from sale of assets	380	592
Net cash flow used for investing activities from continuing operations	(952)	(5,867)
FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from issuance of common stock, net of issuance costs	1,038	8,096
Proceeds from issuance of common stock and pre-funded warrants	6,000	0
Principal payments on debt	0	(3,283)
Net cash flow provided by financing activities from continuing operations	7,038	4,813
Discontinued Operations:
Net cash flow from operating activities of discontinued operations	(71)	915
Net cash flow from investing activities of discontinued operations	0	2,575
Increase (decrease) in cash and cash equivalents from discontinued operations	(71)	3,490
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	1,025	1,829
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - beginning of year	13,312	15,217
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - end of period	$ 14,337	$ 17,046

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 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") owns and operates a vertically integrated cryptocurrency datacenter and power generation company. The Company owns and operates facilities in the Town of Torrey, New York (the "New York Facility") and the Town of Columbia, Mississippi (the "Mississippi Facility"), operates a facility under a lease in the Town of Underwood, North Dakota (the "North Dakota 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 by earning bitcoin as rewards and transaction fees for supporting the global bitcoin network with application-specific integrated circuit computers ("ASICs" or "miners") owned by the Company, which may be operated at the Company's sites or at third-party hosting sites through short-term hosting agreements. The earned bitcoin are then exchanged for U.S. dollars. 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. Effective May 16, 2023, the Company effected a 1-for-10 reverse stock split of its outstanding shares of common stock. The par value remains unchanged. Unless specifically provided otherwise herein, all share and per share amounts as well as common stock and additional paid-in capital have been retroactively adjusted to reflect the reverse stock split. See Note 9, "Stockholders' Deficit", for further details.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Presentation of Condensed Consolidated Financial Statements In the opinion of Greenidge management, the accompanying condensed consolidated financial statements include all adjustments necessary for a fair presentation of the results for the interim periods presented and such adjustments are of a normal recurring nature. The results for the unaudited interim condensed consolidated statements of operations are not necessarily indicative of results to be expected for the year ending December 31, 2024 or for any future interim period. The unaudited interim condensed consolidated financial statements do not include all of the information and notes required by United States Generally Accepted Accounting Principles for complete financial statements. The Company has reflected the operations of its Support.com business as discontinued operations for all periods presented. See Note 3, “ Discontinued Operations ” for further information. Unless otherwise noted, amounts and disclosures throughout these notes to the Company's condensed consolidated financial statements relate solely to continuing operations and exclude all discontinued operations. The accompanying condensed consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements of the Company in its 2023 Annual Report on Form 10-K. Going Concern In accordance with the Financial Accounting Standards Board (the "FASB") Accounting Standards Update ("ASU") 2014-15, Presentation of Financial Statements – Going Concern, the Greenidge'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 factors raise substantial doubt as to the Company’s ability to continue as a going concern. The halving of bitcoin, which occurred April 19, 2024, may have an adverse effect on the Company’s projected future cash flows. The fixed costs to operate the business including, but not limited to, insurance, overhead and capital expenditures, as well as the variable input costs to operate the Company’s datacenters, has a material impact on the Company’s continuing operations and ability to generate positive cash flows. While the market has improved in 2023 and 2024, the Company continues to have to address the possibility of negative impacts of the price of bitcoin and natural gas as these have proven to be volatile markets. As a result, management took certain actions during 2023 to improve the Company's liquidity that are described further below. At March 31, 2024, the Company had $14.3 million of cash, restricted cash and cash equivalents and other current assets of $16.5 million, while having $6.9 million of accounts payable and accrued expenses, emissions liability of $12.3 million, current liabilities held for sale of $0.3 million, other short-term liabilities of $0.2 million, and an estimated $0.7 million of environmental liability spend in the next 12 months, which results in ending working capital of $10.6 million. Additionally, the Company has $6.1 million of interest payments due over the next twelve months. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. In an effort to improve liquidity, the Company has completed or is in the process of completing the following transactions: • In September 2022, Greenidge entered into an at-the-market issuance sales agreement, as amended, dated as of September 19, 2022, by and among the Company, B. Riley Securities, Inc. (“B. Riley Securities”) and Northland Securities, Inc., relating to shares of Greenidge’s Class A common stock (the "ATM Agreement"), and since October 23, 2022 through May 13, 2024, have received net proceeds of $20.7 million from sales of Class A common stock under the ATM Agreement. See Note 9, "Stockholder's Deficit", for further details. • On January 30, 2023, the Company entered into debt restructuring agreements with NYDIG ABL LLC ("NYDIG") and B. Riley Commercial Capital, LLC ("B. Riley Commercial"). The restructuring of the NYDIG debt improved the Company's liquidity during 2023 as the payments required in 2023 on the remaining principal balance was interest payments of $2.0 million. This reduced debt service is substantially lower than the $62.7 million of principal and interest payments which would have been required in 2023 pursuant to the 2021 and 2022 Master Equipment Finance Agreements, both of which were refinanced in January 2023. See Note 5, "Debt" of our Annual Report on Form 10-K, filed April 10, 2024, for further details regarding the debt restructuring agreements. • In conjunction with the restructuring of the debt with NYDIG, the Company also entered into hosting agreements with NYDIG on January 30, 2023 (the “NYDIG Hosting Agreements”), which improved its liquidity position, as it provided for cost reimbursements for key input costs, while allowing the Company to participate in the upside should bitcoin prices rise. • 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. In conjunction with the sale, the Company and NYDIG terminated the South Carolina Hosting Order. The NYDIG Hosting Agreement related to the New York Facility was not impacted by this transaction and remains in place. Following the completion of the South Carolina Facility sale, the Company continues to own approximately 153 acres of land in South Carolina, and is assessing potential uses of the remaining site, which may include the sale of the property. • In addition, the Company sold equipment, coupons and certain environmental credits for total proceeds of $11.7 million from the second quarter of 2022 through the first quarter of 2023 to raise additional funds. • Since entering into the NYDIG Hosting Agreements, the Company has identified opportunities to deploy its company-owned miners. In March 2023, the Company entered into a hosting agreement with Conifex Timber Inc. ("Conifex"), whereby Conifex will provide hosting services to Greenidge utilizing renewable power (the “Conifex Hosting Agreement”). In April 2023, the Company entered into a hosting agreement with Core Scientific, Inc. ("Core") in which Core will host and operate Greenidge-owned bitcoin miners at its facilities (the “Core Hosting Agreement”, and together with the NYDIG Hosting Agreements and the Conifex Hosting Agreement, the “Hosting Agreements”). • On April 10, 2024, we closed on the purchase a parcel of land containing approximately 12 acres located in Columbus, Mississippi, including over 73,000 square feet of industrial warehouse space. We intend to deploy 7 MW of miners on the property in the second quarter of 2024. We have also deployed additional miners in conjunction with a 7.5 MW mining capacity lease in North Dakota, which has a term of five years and provides us with energy to power mining. The Company believes the addition of these datacenters will improve the Company’s profits and liquidity during the remainder of 2024 and beyond. • On February 12, 2024, the Company entered into a securities purchase agreement (the “SPA”) with Armistice Capital Master Fund Ltd. (“Armistice”). Pursuant to the SPA, Armistice purchased shares of the Company’s Class A common stock and a pre-funded Class A common stock purchase warrant entitling them to purchase shares of the Company’s Class A common stock. In addition, the Company issued to Armistice a Class A common stock purchase warrant entitling Armistice, commencing on August 14, 2024, to acquire additional shares of the Company’s Class A common stock from time to time. The SPA resulted in net proceeds of $6.0 million. See Note 9, "Stockholders' Deficit", for further details. • On September 15, 2021, as amended on April 7, 2022, Greenidge entered into 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. From the Effective Date to March 31, 2024, The Company has received aggregate proceeds of $8.0 million, net of discounts, of which $0.3 million were received during the three months ended March 31, 2024. See Note 9, "Stockholders' Deficit", for further details. Despite these improvements to the Company's financial condition, Greenidge management expects that it will require additional capital in order to fund the Company’s expenses and to support the Company’s near-term working capital needs and remaining debt servicing requirements. Management continues to assess different options to improve its liquidity which include, but are not limited to: • issuances of equity, including but not limited to issuances under the Equity Purchase Agreement and/or the ATM Agreement. • a sale of the Company's remaining real estate in South Carolina and/or sale of the remaining miner infrastructure equipment inventory, which was not used in the South Carolina expansion. The Company estimates that substantially all of its cash resources will be depleted by the end of the first quarter of 2025. The Company's estimate of cash resources available to the Company for the next 12 months is dependent on completion of certain actions, including obtaining additional short-term outside financing, executing on certain investing transactions; as well as bitcoin prices and blockchain difficulty levels similar to those existing as of the filing of this Quarterly Report on Form 10-Q and energy prices similar to the those experienced in the first quarter of 2024. While bitcoin prices have begun to recover during 2023 and the first quarter of 2024 from the significant declines experienced in 2022, management cannot predict when or if bitcoin prices will recover to sufficient levels for a sustained period of time in light of the halving that occurred in April 2024, or the volatility of energy costs. While the Company continues to work to implement options to improve liquidity, there can be no assurance that these efforts will be successful and the Company's liquidity could be negatively impacted by factors outside of its control, in particular, significant decreases in the price of bitcoin, our 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, or the cost to us of such procurement or compliance, regulatory changes concerning cryptocurrency, increases in energy costs or other macroeconomic conditions and other matters identified in Part I, Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in this Quarterly Report on Form 10-Q. Given this uncertainty regarding the Company's financial condition over the next 12 months from the date these financial statements were issued, the Company has concluded that there is substantial doubt about its ability to continue as a going concern for a reasonable period of time. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Reclassifications Certain prior year amounts have been reclassified to conform to the current year’s presentation. Significant Accounting Policies The Company's significant accounting policies are described in Note 2. Summary of Significant Accounting Policies, in the Company's consolidated financial statements included in the Company's Annual Report filed on Form 10-K for the year ended December 31, 2023. There have been no material changes to the significant accounting policies, except as described herein, for the three months ended March 31, 2024. Revenue Recognition 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. 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. Engineering Procurement and Construction Management ("EPCM") Revenue The Company has entered into contracts with customers to perform engineering procurement and construction management services for customers developing cryptocurrency mining facilities. The services defined in the contracts are generally separated into phases, being 1) engineering 2) construction and 3) procurement. While the services discussed above are capable of being distinct and separately identifiable, the Company concluded that the services provided are inputs to produce the combined output to the customer, which is the completed site buildout. Further, the services provided are significantly modified by the other services in the contract. As such, while the performance obligations may be capable of being distinct, they are not distinct in the context of the contract and therefore the promises in the contract are combined into one single performance obligation. The Company recognizes EPCM revenue over time, as performance obligations are satisfied, due to the continuous transfer of control to the customer. The Company utilizes the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. The percentage-of-completion method, and input method, is used as management considers it to be the best available measure of progress on these contracts. To the extent a contract is cancelled, the Company assesses whether there are any remaining goods or services to be provided after cancellation. If there are any remaining goods or services to be provided, the Company follows the guidance under ASC 606 for contract modifications. If there are no remaining goods or services to be provided, the Company considers whether consideration received is refundable or nonrefundable. To the extent consideration received is refundable, the Company recognizes a refund liability, otherwise, it recognizes revenue for the consideration received. Recent Accounting Pronouncements, Not Yet Adopted 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 becomes 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. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures. 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. ASU 2023-08 requires entities that hold assets that meet certain criteria to measure those assets at fair value with changes recognized in net income each reporting period. The guidance also requires entities to (1) present crypto assets separately from other intangible assets in its balance sheet and (2) changes from remeasurement of crypto assets separately from changes in the carrying amounts of other intangible assets in the income statement. Additionally, the guidance requires entities to disclose in their annual and interim reports certain information of each significant crypto asset and in their annual interim report, a rollforward of activity during the reporting period, differences between disposal price and cost basis for dispositions, gain and losses to the extent they are not presented separately and the entity's method for determining the cost basis. 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 is currently evaluating the impact the adoption of this ASU will have on its consolidated financial statements and disclosures. 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. Recent Accounting Pronouncements, Adopted There were not any recently adopted or newly issued accounting pronouncements, that have had, or are expected to have, a material impact on the Company's condensed consolidated financial statements and disclosures.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS A business is classified as held for sale when management having the authority to approve the action commits to a plan to sell or exit the business, the sale or exit is probable to occur during the next 12 months at a price or cost 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. 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. At December 31, 2022, the Company classified the Support.com business as held for sale and discontinued operations in the condensed 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 and is continuing to evaluate alternatives for the remainder of the Support.com segment assets. Major classes of assets and liabilities consist of the following: $ in thousands March 31, 2024 December 31, 2023 Assets: Prepaid expenses and other current assets $ 38 $ 47 Current assets held for sale 38 47 Other assets 457 454 Long-term assets held for sale 457 454 Loss on classification to held for sale (495) (501) Assets held for sale — — Liabilities: Accounts payable 18 21 Accrued expenses 303 462 Current liabilities held for sale $ 321 $ 483 Financial results from discontinued operations consist of the following: Three Months Ended $ in thousands 2024 2023 Revenue $ — $ 2,121 Cost of revenue - services and other (exclusive of depreciation and amortization) — (1,894) Selling, general and administrative 79 (1,217) Gain on asset disposal — 3,399 Gain (loss) on assets classified as held for sale 6 (1,735) Other income (loss), net 9 (3) Income from discontinued operations, net of tax $ 94 $ 671 The Company’s effective income tax rate from discontinued operations for the three months ended March 31, 2024 and 2023 was 0% and 0%, respectively.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment, net consisted of the following at March 31, 2024 and December 31, 2023: $ in thousands Estimated Useful March 31, 2024 December 31, 2023 Plant infrastructure 10 years $ 1,367 $ 1,367 Miners 3 years $ 32,026 $ 32,195 Miner facility infrastructure 10 years 8,154 8,154 Land N/A 7,679 7,679 Equipment 5 years 45 45 Construction in process N/A 6,592 6,229 55,863 55,669 Less: Accumulated depreciation (13,808) (10,574) $ 42,055 $ 45,095 Total depreciation expense was $3.2 million and $3.8 million for the three months ended March 31, 2024 and 2023, respectively. On January 30, 2023, Greenidge entered into an agreement regarding its 2021 and 2022 Master Equipment Finance Agreements with NYDIG. During the three months ended March 31, 2023, the Company transferred ownership of bitcoin mining equipment with net book value of $50.0 million and miner deposits of $7.4 million that remained accrued to Greenidge for previous purchases of mining equipment with a bitcoin miner manufacturer and the related debt was canceled pursuant to a debt settlement agreement entered into with NYDIG. The Company recognized a gain on the sale of assets of $1.2 million, which relates to the sale of bitcoin miner manufacturer coupons that were transferred as part of the debt restructuring agreement with NYDIG.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The following table provides information on the Company's debt agreements: $ in thousands Balance as of: Note Loan Date Maturity Date Interest Amount Financed March 31, 2024 December 31, 2023 Senior Unsecured Notes October 2021/December 2021 October 2026 8.5 % $ 72,200 72,200 72,200 Total Debt 72,200 72,200 Less: Debt discount and issue costs (3,229) (3,490) Total debt at book value 68,971 68,710 Less: Current portion — — Long-term debt, net of current portion and deferred financing fees $ 68,971 $ 68,710 The Company incurred interest expense of $1.8 million during the three months ended March 31, 2024 under the terms of these notes payable. The Company incurred interest expense of $3.6 million during the three months ended March 31, 2023 under the terms of these notes payable and other financings that were extinguished during the year ended December 31, 2023. Senior Unsecured Notes During the fourth quarter of 2021, the Company sold $72.2 million of 8.50% Senior Notes due October 2026 (the "Notes") pursuant to the Company's registration statement on Form S-1. Interest on the 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 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 Notes trade on the Nasdaq Global Select Market under the symbol "GREEL." The Company may redeem the 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 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. Minimum Future Principal Payments Minimum future principal payments on debt at March 31, 2024 were as follows: $ in thousands Remainder of 2024 $ — 2025 — 2026 72,200 2027 — 2028 — Total $ 72,200 Fair Value Disclosure The notional value and estimated fair value of the Company's debt totaled $72.2 million and $27.7 million, respectively at March 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 $3.2 million and $3.5 million at March 31, 2024 and December 31, 2023, respectively. The estimated fair value of the senior unsecured notes, representing the fair value of the Company's 8.50% senior secured notes due October 2026, was measured using quoted market prices at the reporting date. Such instruments were valued using Level 1 inputs.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The Company calculates basic earnings per share by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. The diluted earnings (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 earnings and diluted per share of common stock (In thousands, except per share data): Three Months Ended March 31, 2024 2023 Numerator Net loss from continuing operations $ (4,038) $ (8,842) Income from discontinued operations, net of tax 94 671 Net loss $ (3,944) $ (8,171) Denominator Basic weighted average shares outstanding 9,494 5,343 Effect of dilutive securities — — Diluted weighted average shares outstanding 9,494 5,343 Net loss per share, basic and diluted: Net loss per share from continuing operations, basic and diluted $ (0.43) $ (1.66) Income per share from discontinued operations, basic and diluted 0.01 0.13 Net loss per share, basic and diluted $ (0.42) $ (1.53) For the three months ended March 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 because to do so would be anti-dilutive for the period indicated (in thousands): Three Months Ended March 31, Anti-dilutive securities 2024 2023 Restricted stock awards 132 15 Common shares issuable upon exercise of stock options 458 364 Common shares issuable upon exercise of warrants 2,251 — Total 2,841 379

EQUITY BASED COMPENSATION

EQUITY BASED COMPENSATION	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
EQUITY BASED COMPENSATION	EQUITY BASED COMPENSATION In February 2021, Greenidge adopted an equity incentive plan and reserved 383,111 shares of Class A common stock for issuance under the plan (the “2021 Equity Plan”), applicable to employees and non-employee directors. In April 2023, the stockholders approved an amendment and restatement of the Company's 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. For the three months ended March 31, 2024, no additional shares had been granted under the 2021 Equity Plan. In October 2022, the Company registered 307,684 shares of Class A common stock, outside the 2021 Equity Plan, that were reserved for issuance upon the vesting and exercise of non-qualified stock options inducement grants. RSAs and RSUs Restricted stock awards ("RSA") are generally granted with an eligible vesting range from upon grant to over a three-year period. Restricted stock unit ("RSU") awards are generally eligible to vest over a three-year period. The Company’s unvested RSA and RSU award activity for the three months ended March 31, 2024 is summarized below: RSAs & RSUs Weighted Average Unvested at December 31, 2023 9,116 $ 62.99 Granted 247,469 $ 4.32 Vested (124,495) $ 9.14 Unvested at March 31, 2024 132,090 $ 3.79 The value of RSA and RSU grants are 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 $1.1 million for the three months ended March 31, 2024 . There were no grants awarded during the three months ended March 31, 2023. At March 31, 2024, there was approximately $0.4 million of total unrecognized compensation cost related to unvested restricted stock rights, which is expected to be recognized over a remaining weighted-average vesting period of approximately 1.7 years. Common Stock Options The Company’s common stock options activity for the three months ended March 31, 2024 is summarized below: Options Weighted Average Weighted Average Aggregate Outstanding at December 31, 2023 458,982 $ 16.59 Forfeited (266) $ 62.50 Expired (535) $ 64.83 Outstanding at March 31, 2024 458,181 $ 16.51 8.59 $ — Exercisable as of March 31, 2024 152,193 $ 28.25 7.99 $ — 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. At March 31, 2024, there was approximately $2.0 million of total unrecognized compensation cost related to unvested common stock options, which is expected to be recognized over a remaining weighted-average vesting period of approximately 1.9 years. Stock-Based Compensation The Company recognized stock-based compensation expense of $1.1 million and $0.5 million during the three months ended March 31, 2024 and 2023, respectively. Stock-based compensation expense is included in selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made. In addition, the effect of changes in enacted tax laws or rates or tax status is recognized in the interim period in which the change occurs. The effective tax rate for the three months ended March 31, 2024 was 0.0% which was lower than the statutory rate of 21% because the Company has recognized a full valuation allowance on its deferred tax assets. The Company continued to evaluate the realizability of deferred tax assets, due to continued reduced profitability, concluded that a valuation allowance should continue to be recognized for any deferred tax assets generated during the quarter. As a result, there was no net income tax benefit recorded for pretax losses of the U.S. operations in the three months ended March 31, 2024. The effective tax rate for the three months ended March 31, 2023 was 0.0% which was lower than the statutory rate of 21% primarily related to historical net operating loss carryforwards of the Support.com business that was acquired in 2021, due to the reduced profitability caused by the declines in the price of bitcoin and the increased power costs.

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' DEFICIT	STOCKHOLDERS' DEFICIT Equity Purchase Agreement with B. Riley Principal Capital, LLC On September 15, 2021, as amended on April 7, 2022, Greenidge entered into 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 "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 Effective Date to March 31, 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 $0.3 million, net of discounts, during the three months ended March 31, 2024. At The Market Issuance Sales Agreement with B. Riley Securities On September 19, 2022, as amended on October 3, 2022, Greenidge entered into the ATM Agreement with B. Riley and Northland, relating to shares of Greenidge’s Class A common stock. Under the ATM Agreement, B. Riley will use its commercially reasonable efforts to sell on Greenidge’s behalf the shares of Greenidge’s Class A common stock requested to be sold by Greenidge, consistent with B. Riley’s normal trading and sales practices, under the terms and subject to the conditions set forth in the ATM Agreement. Greenidge has the discretion, subject to market demand, to vary the timing, prices and number of shares sold in accordance with the ATM Agreement. B. Riley may sell the Company’s Class A common stock by any method permitted by law deemed to be an "at the market offering" as defined in Rule 415(a)(4) promulgated under the Securities Act. Greenidge pays B. Riley commissions for its services in acting as sales agent, in an amount 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 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 May 15, 2024, Greenidge issued 4,167,463 shares under the ATM Agreement for net proceeds of $20.7 million, of which no shares were issued for the three months ended March 31, 2024. Armistice Capital Agreement On February 12, 2024, the Company entered into a securities purchase agreement (the “SPA”) with Armistice Capital Master Fund Ltd. (“Armistice”). Pursuant to the SPA, Armistice purchased (i) 450,300 shares (the “Shares”) of the Company’s Class A common stock, and (ii) a pre-funded Class A common stock purchase warrant (the “Pre-Funded Warrant”) for 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 has an initial exercise date of February 14, 2024 and gives Armistice the right to acquire the Pre-Funded Warrant Shares, subject to limitations and conditions as set forth in the Pre-Funded Warrant, until it is exercised in full. In addition, the Company issued to Armistice a five The pre-funded and common stock warrants 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 common stock 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 common stock 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 recorded as a component of additional paid-in capital. 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 Warrants outstanding at March 31, 2024 2,250,710 $ 3.50 The following table summarizes information about warrants outstanding at March 31, 2024: Number of Warrants Outstanding Number of Warrants Exercisable Exercise Price Expiration Date December 2023 Warrants 180,000 180,000 $ 7.00 December 11, 2024 February 2024 Pre-Funded Warrants 810,205 810,205 $ 0.0001 Until exercised February 2024 Warrants 1,260,505 — $ 5.25 August 14, 2029 2,250,710 990,205

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 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. The Company is currently not aware of any such legal proceedings or claims that it believes will have a material adverse effect on its business, financial condition, or operating results. Environmental Liabilities The Company has a coal combustion residual ("CCR") liability associated with the closure of a coal ash pond located on the Company's property in the Town of Torrey, New York. In accordance with ASC 410-30, the Company has a liability of $17.3 million as of March 31, 2024 and December 31, 2023. 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 five 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 $12.9 million as of March 31, 2024 and December 31, 2023. 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 2.4%. 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.

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2024
Risks and Uncertainties [Abstract]
CONCENTRATIONS	CONCENTRATIONS The Company has a single hosting customer that accounted for 47% and 46% of the company's revenue during the three months ended March 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 36% and 34% of total revenue for the three months ended March 31, 2024 and 2023, respectively. The Company has one major power customer, NYISO, that accounted for 16% and 12% of its revenue for the three months ended March 31, 2024 and 2023, respectively. The Company has one natural gas vendor that accounted for approximately 45% and 42% of cost of revenue for the three months ended March 31, 2024 and 2023, respectively. The Company has one major provider of hosting services for its self-mining operation that accounted for approximately 23% of cost of revenue for the three months ended March 31, 2024. There were no hosting services for the self-mining operation for the three months ended March 31, 2023.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Letters of Credit Atlas obtained a letter of credit from a financial institution in the amount of $5.0 million at March 31, 2024 and December 31, 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 March 31, 2024 and December 31, 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 (see Note 10, " Commitments and Contingencies" ). Mississippi Expansion On April 10, 2024, we 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, our controlling shareholder and a related party. The purchase price was $1.45 million, of which $500,000 is to be paid no later than 60 days after the closing and $350,000 is to be paid no later than 120 days after the closing, This property provides us with access to 32.5 MW of additional power capacity. The transaction closed in April 2024 and we deployed 7 MW of miners on the property in the second quarter of 2024. Other Affiliates of Atlas from time to time incur certain costs for the benefit of Greenidge, including for the maintenance of certain aforementioned letters of credit, which are fully reimbursed by Greenidge. Greenidge did not reimburse Atlas or its affiliates for any such costs during the quarter ended March 31, 2024.

SUPPLEMENTAL BALANCE SHEET AND

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION	SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION $ in thousands March 31, 2024 December 31, 2023 Prepaid expenses: Electric deposits $ 273 $ — Prepaid insurance 1,697 2,818 Warrant Asset 57 477 Other 791 569 Total $ 2,818 $ 3,864 Accrued expenses: Accrued interest $ 1,026 $ 1,026 Other 3,240 5,090 Total $ 4,266 $ 6,116 Greenidge had the following noncash investing and financing activities: Three Months Ended March 31, $ in thousands 2024 2023 Property and equipment purchases in accounts payable 224 751 Common stock issued for amendment fee to lender — 1,000 Exchange of assets for reduction in debt — 49,950 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 — 680 The following table provides supplemental cash flow information for cash paid for interest: Three Months Ended March 31, $ in thousands 2024 2023 Cash paid for interest $ 1,534 $ 1,696

DIGITAL ASSETS

DIGITAL ASSETS	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
DIGITAL ASSETS	DIGITAL ASSETS The following table presents our bitcoin activities for the three months ended March 31, 2024: Balance at December 31, 2023 $ 347 Revenues from digital asset production 6,999 Sale of digital assets (7,104) Gain on sale of digital assets 59 Digital Assets at March 31, 2024 $ 301

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	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 March 31, 2024, and December 31, 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. 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): As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Prepaid expenses and current other assets: Warrant asset $ — $ — $ 477 $ 477 As of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Prepaid expenses and current other assets: Warrant asset $ — $ — $ 57 $ 57 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: March 31, 2024 December 31, 2023 Stock Price $ 3.10 $ 4.83 Risk-free interest rate 5.21 % 5.14 % Volatility 67.09 % 172.64 % Remaining term (in years) 0.75 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. 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. During the three months ended March 31, 2024, the Company recognized an impairment charge of $0.2 million of property and equipment, net. There were no impairment charges for the three months ended March 31, 2023.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Subsequent events have been evaluated through May 15, 2024, the date at which the condensed consolidated financial statements were available to be issued, and the Company has concluded that no such events or transactions took place that would require disclosure herein except as stated directly below. Mississippi Expansion On April 10, 2024, a subsidiary of the Company entered into a Commercial Purchase and Sale Agreement (the “Motus Agreement”) with a subsidiary of Motus Pivot Inc., a Delaware corporation ("Motus"), pursuant to which the Company has agreed to purchase from Motus a parcel of land containing approximately 12 acres located in Columbus, Mississippi, including over 73,000 square feet of industrial warehouse space (the “Property”). The purchase price for the Property is $1.45 million (the “Purchase Price”), which the Company expects to finance with cash on hand. As such, financing the transaction with cash on hand will impact the Company's liquidity and capital resources. Motus is a portfolio company of private investment funds managed by Atlas Holdings LLC (“Atlas”), a related party of the Company. Greenidge’s controlling shareholder consists of certain funds associated with Atlas. Under the terms of the Motus Agreement, Greenidge will deposit $50 thousand in escrow, with such amount to be applied at closing to the Purchase Price. The Motus Agreement contains customary representations, warranties and covenants of the parties and closing conditions as well as other customary provisions.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year’s presentation.
Revenue Recognition	Revenue Recognition 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. 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. Engineering Procurement and Construction Management ("EPCM") Revenue The Company has entered into contracts with customers to perform engineering procurement and construction management services for customers developing cryptocurrency mining facilities. The services defined in the contracts are generally separated into phases, being 1) engineering 2) construction and 3) procurement. While the services discussed above are capable of being distinct and separately identifiable, the Company concluded that the services provided are inputs to produce the combined output to the customer, which is the completed site buildout. Further, the services provided are significantly modified by the other services in the contract. As such, while the performance obligations may be capable of being distinct, they are not distinct in the context of the contract and therefore the promises in the contract are combined into one single performance obligation. The Company recognizes EPCM revenue over time, as performance obligations are satisfied, due to the continuous transfer of control to the customer. The Company utilizes the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. The percentage-of-completion method, and input method, is used as management considers it to be the best available measure of progress on these contracts. To the extent a contract is cancelled, the Company assesses whether there are any remaining goods or services to be provided after cancellation. If there are any remaining goods or services to be provided, the Company follows the guidance under ASC 606 for contract modifications. If there are no remaining goods or services to be provided, the Company considers whether consideration received is refundable or nonrefundable. To the extent consideration received is refundable, the Company recognizes a refund liability, otherwise, it recognizes revenue for the consideration received.
Recent Accounting Pronouncements, Not Yet Adopted and Recent Accounting Pronouncements, Adopted	Recent Accounting Pronouncements, Not Yet Adopted 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 becomes 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. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures. 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. ASU 2023-08 requires entities that hold assets that meet certain criteria to measure those assets at fair value with changes recognized in net income each reporting period. The guidance also requires entities to (1) present crypto assets separately from other intangible assets in its balance sheet and (2) changes from remeasurement of crypto assets separately from changes in the carrying amounts of other intangible assets in the income statement. Additionally, the guidance requires entities to disclose in their annual and interim reports certain information of each significant crypto asset and in their annual interim report, a rollforward of activity during the reporting period, differences between disposal price and cost basis for dispositions, gain and losses to the extent they are not presented separately and the entity's method for determining the cost basis. 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 is currently evaluating the impact the adoption of this ASU will have on its consolidated financial statements and disclosures. 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. Recent Accounting Pronouncements, Adopted There were not any recently adopted or newly issued accounting pronouncements, that have had, or are expected to have, a material impact on the Company's condensed consolidated financial statements and disclosures.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	Major classes of assets and liabilities consist of the following: $ in thousands March 31, 2024 December 31, 2023 Assets: Prepaid expenses and other current assets $ 38 $ 47 Current assets held for sale 38 47 Other assets 457 454 Long-term assets held for sale 457 454 Loss on classification to held for sale (495) (501) Assets held for sale — — Liabilities: Accounts payable 18 21 Accrued expenses 303 462 Current liabilities held for sale $ 321 $ 483 Financial results from discontinued operations consist of the following: Three Months Ended $ in thousands 2024 2023 Revenue $ — $ 2,121 Cost of revenue - services and other (exclusive of depreciation and amortization) — (1,894) Selling, general and administrative 79 (1,217) Gain on asset disposal — 3,399 Gain (loss) on assets classified as held for sale 6 (1,735) Other income (loss), net 9 (3) Income from discontinued operations, net of tax $ 94 $ 671

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and equipment, net consisted of the following at March 31, 2024 and December 31, 2023: $ in thousands Estimated Useful March 31, 2024 December 31, 2023 Plant infrastructure 10 years $ 1,367 $ 1,367 Miners 3 years $ 32,026 $ 32,195 Miner facility infrastructure 10 years 8,154 8,154 Land N/A 7,679 7,679 Equipment 5 years 45 45 Construction in process N/A 6,592 6,229 55,863 55,669 Less: Accumulated depreciation (13,808) (10,574) $ 42,055 $ 45,095

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The following table provides information on the Company's debt agreements: $ in thousands Balance as of: Note Loan Date Maturity Date Interest Amount Financed March 31, 2024 December 31, 2023 Senior Unsecured Notes October 2021/December 2021 October 2026 8.5 % $ 72,200 72,200 72,200 Total Debt 72,200 72,200 Less: Debt discount and issue costs (3,229) (3,490) Total debt at book value 68,971 68,710 Less: Current portion — — Long-term debt, net of current portion and deferred financing fees $ 68,971 $ 68,710
Minimum Future Principal Payments on Debt	Minimum future principal payments on debt at March 31, 2024 were as follows: $ in thousands Remainder of 2024 $ — 2025 — 2026 72,200 2027 — 2028 — Total $ 72,200

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share, Basic and Diluted	The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings and diluted per share of common stock (In thousands, except per share data): Three Months Ended March 31, 2024 2023 Numerator Net loss from continuing operations $ (4,038) $ (8,842) Income from discontinued operations, net of tax 94 671 Net loss $ (3,944) $ (8,171) Denominator Basic weighted average shares outstanding 9,494 5,343 Effect of dilutive securities — — Diluted weighted average shares outstanding 9,494 5,343 Net loss per share, basic and diluted: Net loss per share from continuing operations, basic and diluted $ (0.43) $ (1.66) Income per share from discontinued operations, basic and diluted 0.01 0.13 Net loss per share, basic and diluted $ (0.42) $ (1.53)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table sets forth potential shares of common stock that are not included in the diluted net loss per share calculation because to do so would be anti-dilutive for the period indicated (in thousands): Three Months Ended March 31, Anti-dilutive securities 2024 2023 Restricted stock awards 132 15 Common shares issuable upon exercise of stock options 458 364 Common shares issuable upon exercise of warrants 2,251 — Total 2,841 379

EQUITY BASED COMPENSATION (Tabl

EQUITY BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Unvested Restricted Common Stock Unit Awards Activity	The Company’s unvested RSA and RSU award activity for the three months ended March 31, 2024 is summarized below: RSAs & RSUs Weighted Average Unvested at December 31, 2023 9,116 $ 62.99 Granted 247,469 $ 4.32 Vested (124,495) $ 9.14 Unvested at March 31, 2024 132,090 $ 3.79
Stock Options Activity	The Company’s common stock options activity for the three months ended March 31, 2024 is summarized below: Options Weighted Average Weighted Average Aggregate Outstanding at December 31, 2023 458,982 $ 16.59 Forfeited (266) $ 62.50 Expired (535) $ 64.83 Outstanding at March 31, 2024 458,181 $ 16.51 8.59 $ — Exercisable as of March 31, 2024 152,193 $ 28.25 7.99 $ —

STOCKHOLDERS' DEFICIT (Tables)

STOCKHOLDERS' DEFICIT (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights	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 Warrants outstanding at March 31, 2024 2,250,710 $ 3.50 The following table summarizes information about warrants outstanding at March 31, 2024: Number of Warrants Outstanding Number of Warrants Exercisable Exercise Price Expiration Date December 2023 Warrants 180,000 180,000 $ 7.00 December 11, 2024 February 2024 Pre-Funded Warrants 810,205 810,205 $ 0.0001 Until exercised February 2024 Warrants 1,260,505 — $ 5.25 August 14, 2029 2,250,710 990,205

SUPPLEMENTAL BALANCE SHEET AN_2

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Prepaid and Accrued Expenses	$ in thousands March 31, 2024 December 31, 2023 Prepaid expenses: Electric deposits $ 273 $ — Prepaid insurance 1,697 2,818 Warrant Asset 57 477 Other 791 569 Total $ 2,818 $ 3,864 Accrued expenses: Accrued interest $ 1,026 $ 1,026 Other 3,240 5,090 Total $ 4,266 $ 6,116
Summary of supplemental cash flow information	Greenidge had the following noncash investing and financing activities: Three Months Ended March 31, $ in thousands 2024 2023 Property and equipment purchases in accounts payable 224 751 Common stock issued for amendment fee to lender — 1,000 Exchange of assets for reduction in debt — 49,950 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 — 680 The following table provides supplemental cash flow information for cash paid for interest: Three Months Ended March 31, $ in thousands 2024 2023 Cash paid for interest $ 1,534 $ 1,696

DIGITAL ASSETS (Tables)

DIGITAL ASSETS (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	The following table presents our bitcoin activities for the three months ended March 31, 2024: Balance at December 31, 2023 $ 347 Revenues from digital asset production 6,999 Sale of digital assets (7,104) Gain on sale of digital assets 59 Digital Assets at March 31, 2024 $ 301

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 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): As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Prepaid expenses and current other assets: Warrant asset $ — $ — $ 477 $ 477 As of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Prepaid expenses and current other assets: Warrant asset $ — $ — $ 57 $ 57
Fair Value Measurement Inputs and Valuation Techniques	The following table provides quantitative information regarding the Level 3 fair value inputs: March 31, 2024 December 31, 2023 Stock Price $ 3.10 $ 4.83 Risk-free interest rate 5.21 % 5.14 % Volatility 67.09 % 172.64 % Remaining term (in years) 0.75 1.00 Expected dividend yield — % — %

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	May 16, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Conversion ratio	0.1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)

3 Months Ended

15 Months Ended

19 Months Ended

23 Months Ended

Feb. 12, 2024 USD ($)

Nov. 09, 2023 USD ($) a MW

Jan. 30, 2023 USD ($)

Apr. 07, 2022 USD ($)

Mar. 31, 2024 USD ($) MW

Mar. 31, 2023 USD ($)

Jun. 30, 2023 USD ($)

May 15, 2024 USD ($)

Mar. 31, 2024 USD ($) MW

Jun. 30, 2024 MW

Apr. 10, 2024 a ft²

Dec. 31, 2023 USD ($)

Oct. 03, 2022 USD ($)

Debt Instrument [Line Items]

Cash, restricted cash and cash equivalents

$ 14,337,000

$ 14,337,000

$ 13,312,000

Other current assets

16,500,000

16,500,000

Accounts payable and accrued expenses

6,900,000

6,900,000

Accrued emissions expense

12,256,000

12,256,000

10,520,000

Current liabilities held for sale

321,000

321,000

483,000

Other short-term liabilities

150,000

150,000

0

Short-term environmental liability

663,000

663,000

$ 363,000

Working capital

10,600,000

10,600,000

Interest payments due in the next twelve months

6,100,000

$ 6,100,000

Proceeds from sale of assets

$ 380,000

$ 592,000

$ 11,700,000

South Carolina, United States

Debt Instrument [Line Items]

Warehouse space acquired (in square feet) | a

153

Columbus, Mississippi | Industrial Warehouse | Forecast

Debt Instrument [Line Items]

Power associated with facility | MW

32.5

Miners to be deployed to new facility | MW

7

NORTH DAKOTA

Debt Instrument [Line Items]

Miners to be deployed to new facility | MW

7.5

7.5

Mining lease term

5 years

Discontinued Operations, Disposed of by Sale | South Carolina Datacenter

Debt Instrument [Line Items]

Power associated with facility | MW

44

Area of land sold (in acres) | a

22

Consideration received from sale of land

$ 28,000,000

Cash received from disposal

4,500,000

Bonus received from disposal

1,600,000

Gain recognized on sale of facility

8,200,000

Refinanced 2021 and 2022 Master Equipment Finance Agreement | Secured Debt

Debt Instrument [Line Items]

Remaining principal balance, interest payments

$ 2,000,000

Principal and interest payments

$ 62,700,000

Senior Notes Due January 2025 [Member] | Senior Notes | Discontinued Operations, Disposed of by Sale | South Carolina Datacenter

Debt Instrument [Line Items]

Extinguishment of debt

17,700,000

Secured Promissory Note | Discontinued Operations, Disposed of by Sale | South Carolina Datacenter | Secured Debt

Debt Instrument [Line Items]

Extinguishment of debt

$ 4,100,000

At The Market Issuance Sales Agreement

Debt Instrument [Line Items]

Maximum aggregate consideration to be received on transaction

$ 22,800,000

Securities Purchase Agreement

Debt Instrument [Line Items]

Net proceeds received

$ 6,000,000

Equity Purchase Agreement

Debt Instrument [Line Items]

Net proceeds received

$ 300,000

$ 8,000,000

Maximum aggregate consideration to be received on transaction

$ 500,000,000

Sale of stock, period

24 months

Subsequent Event | Columbus, Mississippi

Debt Instrument [Line Items]

Area of land acquired (in acres) | a

12

Subsequent Event | Columbus, Mississippi | Industrial Warehouse

Debt Instrument [Line Items]

Warehouse space acquired (in square feet) | ft²

73,000

Subsequent Event | At The Market Issuance Sales Agreement

Debt Instrument [Line Items]

Net proceeds received

$ 20,700,000

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - Discontinued Operations, Disposed of by Sale - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Effective income tax rate from discontinued operations		0%	0%
Support Com
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of business	$ 2.6

DISCONTINUED OPERATIONS - Major

DISCONTINUED OPERATIONS - Major Classes of Assets and Liabilities to be Transferred (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Liabilities:
Current liabilities held for sale	$ 321	$ 483
Support Com | Discontinued Operations, Held-for-sale
Assets:
Prepaid expenses and other current assets	38	47
Current assets held for sale	38	47
Other assets	457	454
Long-term assets held for sale	457	454
Loss on classification to held for sale	(495)	(501)
Assets held for sale	0	0
Liabilities:
Accounts payable	18	21
Accrued expenses	303	462
Current liabilities held for sale	$ 321	$ 483

DISCONTINUED OPERATIONS - Finan

DISCONTINUED OPERATIONS - Financial Results (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on asset disposal	$ 0	$ 1,744
Income from discontinued operations, net of tax	94	671
Support Com | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	0	2,121
Cost of revenue - services and other (exclusive of depreciation and amortization)	0	(1,894)
Selling, general and administrative	79	(1,217)
Gain on asset disposal	0	3,399
Gain (loss) on assets classified as held for sale	6	(1,735)
Other income (loss), net	9	(3)
Income from discontinued operations, net of tax	$ 94	$ 671

PROPERTY AND EQUIPMENT - Proper

PROPERTY AND EQUIPMENT - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 55,863	$ 55,669
Less: Accumulated depreciation	(13,808)	(10,574)
Property and equipment, net	$ 42,055	45,095
Plant infrastructure
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Property and equipment, gross	$ 1,367	1,367
Miners
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Property and equipment, gross	$ 32,026	32,195
Miner facility infrastructure
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Property and equipment, gross	$ 8,154	8,154
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,679	7,679
Equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property and equipment, gross	$ 45	45
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6,592	$ 6,229

PROPERTY AND EQUIPMENT - Narrat

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 3,200	$ 3,800
Gain on sale of assets	0	1,744
Miners
Property, Plant and Equipment [Line Items]
Exchange of property plant and equipment, for reduction in debt	0	49,950
Miner Coupons
Property, Plant and Equipment [Line Items]
Exchange of property plant and equipment, for reduction in debt	$ 0	1,152
Gain on sale of assets		$ 1,200

DEBT - Equipment Financing Agre

DEBT - Equipment Financing Agreements (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2021
Debt Instrument [Line Items]
Total Debt	$ 72,200	$ 72,200
Less: Debt discount and issue costs	(3,229)	(3,490)
Total debt at book value	68,971	68,710
Less: Current portion	0	0
Long-term debt, net of deferred financing fees	$ 68,971	68,710
Senior Unsecured Notes | Senior Notes
Debt Instrument [Line Items]
Interest Rate	8.50%		8.50%
Amount Financed	$ 72,200
Total Debt	$ 72,200	$ 72,200

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2021	Dec. 31, 2023
Debt Instrument [Line Items]
Interest expense	$ 1,800	$ 3,600
Notional value	72,200			$ 72,200
Fair value of debt	27,700			29,300
Unamortized discounts and debt issuance costs	$ 3,229			$ 3,490
Senior Notes | Senior Unsecured Notes
Debt Instrument [Line Items]
Senior Notes			$ 72,200
Interest rate	8.50%		8.50%
Senior Notes | Senior Unsecured Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redeem percentage			102%
Senior Notes | Senior Unsecured Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt instrument, redeem percentage			101%
Senior Notes | Senior Unsecured Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt instrument, redeem percentage			100%
Senior Notes | Senior Unsecured Notes | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt instrument, redeem percentage			100.50%
Senior Notes | 8.50% Senior Secured Notes Due 2026
Debt Instrument [Line Items]
Interest rate	8.50%

DEBT - Minimum Future Principal

DEBT - Minimum Future Principal Payments on Debt (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 0
2025	0
2026	72,200
2027	0
2028	0
Total	$ 72,200

EARNINGS PER SHARE - Basic Earn

EARNINGS PER SHARE - Basic Earnings and Diluted per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator
Net loss from continuing operations	$ (4,038)	$ (8,842)
Income from discontinued operations, net of tax	94	671
Net loss, basic	(3,944)	(8,171)
Net loss, diluted	$ (3,944)	$ (8,171)
Denominator
Basic weighted average shares outstanding (in shares)	9,494,000	5,343,000
Dilutive effect of equity awards (in shares)	0	0
Diluted weighted average shares outstanding (in shares)	9,494,000	5,343,000
Net loss per share, basic and diluted:
Net loss per share from continuing operations, basic (in dollars per share)	$ (0.43)	$ (1.66)
Net loss per share from continuing operations, diluted (in dollars per share)	(0.43)	(1.66)
Income per share from discontinued operations, basic (in dollars per share)	0.01	0.13
Income per share from discontinued operations, diluted (in dollars per share)	0.01	0.13
Net loss per share, basic (in dollars per share)	(0.42)	(1.53)
Net loss per share, diluted (in dollars per share)	$ (0.42)	$ (1.53)

EARNINGS PER SHARE - Antidiluti

EARNINGS PER SHARE - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	2,841	379
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	132	15
Common shares issuable upon exercise of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	458	364
Common shares issuable upon exercise of warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	2,251	0

EQUITY BASED COMPENSATION - Nar

EQUITY BASED COMPENSATION - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2023 shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2023 USD ($) shares	Oct. 31, 2022 shares	Feb. 28, 2021 shares
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Conversion ratio on shares removed for issuance	2
Stock-based compensation expense | $		$ 1.1	$ 0.5
Common Class A
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Number of shares registered				307,684
2021 Equity Plan
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Common stock reserved for issuance (in shares)	883,111				383,111
Number of additional shares authorized	500,000
Number of additional shares granted		0
RSUs | 2021 Equity Plan
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Vesting period		3 years
RSAs & RSUs
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Fair market value of the awards granted | $		$ 1.1
Grants in period (in shares)		247,469	0
Unrecognized compensation cost | $		$ 0.4
Unrecognized compensation cost, period for recognition		1 year 8 months 12 days
Common shares issuable upon exercise of stock options
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Unrecognized compensation cost | $		$ 2
Unrecognized compensation cost, period for recognition		1 year 10 months 24 days
Restricted Stock | 2021 Equity Plan
Disclosure Of Compensation Related Costs Sharebased Payments [Line Items]
Vesting period		3 years

EQUITY BASED COMPENSATION - RSA

EQUITY BASED COMPENSATION - RSAs and RSUs (Details) - RSAs & RSUs - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
RSAs & RSUs
Unvested, beginning balance (in shares)	9,116
Grants in period (in shares)	247,469	0
Vested (in shares)	(124,495)
Unvested, ending balance (in shares)	132,090
Weighted Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share)	$ 62.99
Granted (in dollars per share)	4.32
Vested (in dollars per share)	9.14
Unvested, ending balance (in dollars per share)	$ 3.79

EQUITY BASED COMPENSATION - Com

EQUITY BASED COMPENSATION - Common Stock Options (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Exercisable, weighted average remaining contractual life as of end of period	7 years 11 months 26 days
Outstanding, aggregate intrinsic value as of end of period | $	$ 0
Common shares issuable upon exercise of stock options
Options
Outstanding, beginning balance (in shares) | shares	458,982
Forfeited (in shares) | shares	(266)
Expired (in shares) | shares	(535)
Outstanding, ending balance (in shares) | shares	458,181
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, beginning balance (in dollars per share) | $ / shares	$ 16.59
Weighted average exercise price per share, forfeited (in dollars per share) | $ / shares	62.50
Weighted average exercise price per share, expired (in dollars per share) | $ / shares	64.83
Weighted average exercise price per share, ending balance (in dollars per share) | $ / shares	$ 16.51
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Exercisable as of end of period (in shares) | shares	152,193
Exercisable, weighted average exercise price per share as of end of period (in dollars per share) | $ / shares	$ 28.25
Outstanding, weighted average remaining contractual life as of end of period	8 years 7 months 2 days
Exercisable, aggregate intrinsic value, as of end of period | $	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate as a percentage	0%	0%
Benefit from income taxes	$ 0	$ 0

STOCKHOLDERS' DEFICIT - Narrati

STOCKHOLDERS' DEFICIT - Narrative (Details) - USD ($)					3 Months Ended	19 Months Ended	23 Months Ended
	Feb. 12, 2024	Oct. 03, 2022	Apr. 28, 2022	Apr. 07, 2022	Mar. 31, 2024	May 15, 2024	Mar. 31, 2024	Aug. 14, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Exercise price (in dollars per share)					$ 3.50		$ 3.50		$ 7
Issuance of warrants in connection with Securities Purchase Agreement					$ 4,866,000
Class of Warrant or Right, Outstanding					2,250,710		2,250,710		180,000
February 2024 Pre-Funded Warrants
Class of Stock [Line Items]
Exercise price (in dollars per share)					$ 0.0001		$ 0.0001
Issuance of warrants in connection with Securities Purchase Agreement					$ 2,000,000
Class of Warrant or Right, Outstanding	810,205				810,205		810,205
Common Stock Warrant
Class of Stock [Line Items]
Issuance of warrants in connection with Securities Purchase Agreement					$ 2,800,000
Equity Purchase Agreement
Class of Stock [Line Items]
Maximum aggregate consideration to be received on transaction				$ 500,000,000
Sale of stock, period				24 months
Number of shares issued in transaction			572,095		45,269		549,285
Net proceeds received					$ 300,000		$ 8,000,000
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					0
Underwriter compensation, percentage of gross stock sales		3%
At The Market Issuance Sales Agreement | Subsequent Event
Class of Stock [Line Items]
Number of shares issued in transaction						4,167,463
Net proceeds received						$ 20,700,000
Securities Purchase Agreement
Class of Stock [Line Items]
Number of shares issued in transaction	450,300
Net proceeds received	$ 6,000,000
Sale of stock, price (in dollars per share)	$ 4.76
Exercise price (in dollars per share)	$ 0.0001
Warrant term	5 years
Securities Purchase Agreement | Forecast
Class of Stock [Line Items]
Number of securities called by warrants (in shares)								1,260,505
Exercise price (in dollars per share)								$ 5.25

STOCKHOLDERS' DEFICIT - Warrant

STOCKHOLDERS' DEFICIT - Warrants (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Number of warrants
Warrants outstanding at December 31, 2023 (in shares)	180,000
Issued (in shares)	2,070,710
Warrants outstanding at March 31, 2024 (in shares)	2,250,710
Weighted Average Exercise Price
Warrants outstanding at December 31, 2023, Weighted average exercise price (in dollars per share) | $ / shares	$ 7
Issued, Weighted average exercise price (in dollars per share) | $ / shares	3.20
Warrants outstanding at March 31, 2024, Weighted average exercise price (in dollars per share) | $ / shares	$ 3.50
Number of Warrants Exercisable (in shares)	990,205
December 2023 Warrants
Number of warrants
Warrants outstanding at March 31, 2024 (in shares)	180,000
Weighted Average Exercise Price
Warrants outstanding at March 31, 2024, Weighted average exercise price (in dollars per share) | $ / shares	$ 7
Number of Warrants Exercisable (in shares)	180,000
February 2024 Pre-Funded Warrants
Number of warrants
Warrants outstanding at March 31, 2024 (in shares)	810,205
Weighted Average Exercise Price
Warrants outstanding at March 31, 2024, Weighted average exercise price (in dollars per share) | $ / shares	$ 0.0001
Number of Warrants Exercisable (in shares)	810,205
February 2024 Warrants
Number of warrants
Warrants outstanding at March 31, 2024 (in shares)	1,260,505
Weighted Average Exercise Price
Warrants outstanding at March 31, 2024, Weighted average exercise price (in dollars per share) | $ / shares	$ 5.25
Number of Warrants Exercisable (in shares)	0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Sep. 30, 2020 USD ($) dth	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Product Liability Contingency [Line Items]
Environmental trust liability		$ 29,566	$ 29,866
Environmental liability related to landfill, period		30 years
Annual inflation rate on environmental liability related to landfill		2.40%
Purchase commitment, energy volume required per day (in dekatherm) | dth	15,000
Purchase commitment per month	$ 200
Purchase commitment, termination notice period	12 months
Purchase commitment period	10 years
Coal ash impoundment
Product Liability Contingency [Line Items]
Environmental liability		$ 17,300	17,300
Environmental liability, remediation period		5 years
Environmental trust liability		$ 12,900	$ 12,900

CONCENTRATIONS (Details)

CONCENTRATIONS (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cryptocurrency mining
Concentration Risk [Line Items]
Revenue from contract with customer, term	1 day
Sales Revenue Net | Customer Concentration Risk | Data Center Customer One
Concentration Risk [Line Items]
Concentration risk percentage	47%	46%
Sales Revenue Net | Customer Concentration Risk | Operator Customer One
Concentration Risk [Line Items]
Concentration risk percentage	36%	34%
Sales Revenue Net | Customer Concentration Risk | One Major Customer
Concentration Risk [Line Items]
Concentration risk percentage	16%	12%
Sales Revenue Net | Supplier Concentration Risk | One Major Customer
Concentration Risk [Line Items]
Concentration risk percentage	45%	42%
Cost of Goods and Service Benchmark [Member] | Supplier Concentration Risk | One Major Provider Of Hosting Services
Concentration Risk [Line Items]
Concentration risk percentage	23%	0%

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) $ in Thousands	Apr. 10, 2024 USD ($) a ft²	Jun. 30, 2024 MW	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Subsequent Event
Related Party Transaction [Line Items]
Payments to acquire land	$ 1,450
Columbus, Mississippi | Industrial Warehouse | Forecast
Related Party Transaction [Line Items]
Power associated with acquired facility | MW		32.5
Miners to be deployed to new facility | MW		7
Columbus, Mississippi | Subsequent Event
Related Party Transaction [Line Items]
Area of land acquired (in acres) | a	12
Columbus, Mississippi | Subsequent Event | Industrial Warehouse
Related Party Transaction [Line Items]
Warehouse space acquired (in square feet) | ft²	73,000
Payment Period One | Subsequent Event
Related Party Transaction [Line Items]
Payments to acquire land	$ 500
Payment due date, period after closing	60 days
Payment Period Two | Subsequent Event
Related Party Transaction [Line Items]
Payments to acquire land	$ 350
Payment due date, period after closing	120 days
NYSDEC | Atlas Holdings LLC
Related Party Transaction [Line Items]
Letters of credit outstanding			$ 5,000	$ 5,000
Empire Pipeline Incorporated | Atlas Holdings LLC
Related Party Transaction [Line Items]
Letters of credit outstanding			$ 3,600	$ 3,600

SUPPLEMENTAL BALANCE SHEET AN_3

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Prepaid expenses:
Electric deposits	$ 273	$ 0
Prepaid insurance	1,697	2,818
Warrant Asset	57	477
Other	791	569
Total	$ 2,818	$ 3,864
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Accrued expenses:
Accrued interest	$ 1,026	$ 1,026
Other	3,240	5,090
Total	$ 4,266	$ 6,116

SUPPLEMENTAL BALANCE SHEET AN_4

SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment purchases in accounts payable	$ 224	$ 751
Common stock issued for amendment fee to lender	0	1,000
Accrued interest added to debt principal	0	680
Cash paid for interest	1,534	1,696
Miners
Property, Plant and Equipment [Line Items]
Exchange of property plant and equipment, for reduction in debt	0	49,950
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

DIGITAL ASSETS (Details)

DIGITAL ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Crypto Asset [Roll Forward]
Balance at December 31, 2023	$ 347
Revenues from digital asset production	19,333	$ 15,157
Sale of digital assets	(7,104)
Gain on sale of digital assets	59	398
Digital Assets at March 31, 2024	301
Cryptocurrency mining
Crypto Asset [Roll Forward]
Revenues from digital asset production	$ 6,999	$ 6,451

FAIR VALUE - Fair Value Hierarc

FAIR VALUE - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets:
Warrant asset	$ 57	$ 477
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Level 1
Assets:
Warrant asset	$ 0	$ 0
Level 2
Assets:
Warrant asset	0	0
Level 3
Assets:
Warrant asset	$ 57	$ 477

FAIR VALUE - Warrant Asset (Det

FAIR VALUE - Warrant Asset (Details)	Mar. 31, 2024	Dec. 31, 2023
Stock Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	3.10	4.83
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.0521	0.0514
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.6709	1.7264
Remaining term (in years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0.75	1
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0	0

FAIR VALUE - Narrative (Details

FAIR VALUE - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Impairment of long-lived assets	$ 169	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event $ in Thousands	Apr. 10, 2024 USD ($) a ft²
Subsequent Event [Line Items]
Payments to acquire land	$ 1,450
Deposits held in escrow	$ 50
Columbus, Mississippi
Subsequent Event [Line Items]
Area of land acquired (in acres) | a	12
Columbus, Mississippi | Industrial Warehouse
Subsequent Event [Line Items]
Warehouse space acquired (in square feet) | ft²	73,000