{"id":76537,"date":"2023-03-31T17:40:36","date_gmt":"2023-03-31T14:40:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76537"},"modified":"2025-09-10T17:55:59","modified_gmt":"2025-09-10T14:55:59","slug":"greenidge-generation-mined-2731-btc-in-the-year-with-a-269-million-loss","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/greenidge-generation-mined-2731-btc-in-the-year-with-a-269-million-loss\/","title":{"rendered":"Greenidge Generation mined 2,731 BTC in the year with a $269 million loss"},"content":{"rendered":"<p>For 2022, the mining company Greenidge Generation <a href=\"https:\/\/ir.greenidge.com\/news-releases\/news-release-details\/greenidge-generation-reports-fourth-quarter-and-full-year-2022\">mined<\/a> 2,731 BTC. The company&#8217;s revenue for the period amounted to $90 million with a net loss of $269.7 million.<\/p>\n<p>Negative financial results were driven mainly by asset write-downs ($176.3 million) and costs related to <a href=\"https:\/\/forklog.com\/en\/news\/new-york-residents-accuse-greenidge-generation-of-environmental-violations\">environmental liabilities<\/a> ($16.7 million).<\/p>\n<p>As of December 31, the company operated an active fleet of 24,200 ASIC miners with aggregate hashrate of about 2.4 EH\/s.<\/p>\n<p>The firm ended the year with cash, short-term investments and crypto reserves totaling $5.7 million.<\/p>\n<p>In the first quarter of 2023, Greenidge Generation completed certain measures to strengthen its financial and operational resilience:<\/p>\n<ul class=\"wp-block-list\">\n<li>restructured debt with NYDIG B. Riley, <a href=\"https:\/\/forklog.com\/en\/news\/greenidge-generation-cuts-debt-by-61-million\">reducing borrowings<\/a> on loans from $87 million to about $26 million;<\/li>\n<li>closed a deal to sell part of the Support.com business for $2.6 million;<\/li>\n<li>entered into an agreement with Conifex to host 750 miners.<\/li>\n<\/ul>\n<p>The company is also selling surplus real estate and evaluating opportunities to deploy another 9,000 of its devices.<\/p>\n<p>Greenidge Generation CEO Dave Anderson said the balance-sheet restructuring measures were effective.<\/p>\n<p>In March, miners&#8217; revenue, buoyed by the rally in the first cryptocurrency, <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-miners-revenue-over-the-decade-up-37\">jumped by 37%<\/a> in just 10 days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For 2022, the mining company Greenidge Generation mined 2,731 BTC. The company&#8217;s revenue for the period amounted to $90 million with a net loss of $269.7 million.<\/p>\n","protected":false},"author":1,"featured_media":76538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,2209],"class_list":["post-76537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-greenidge-generation"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=76537"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76537\/revisions"}],"predecessor-version":[{"id":76539,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76537\/revisions\/76539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76538"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}