Tearsheet

Greenidge Generation (GREE)


Market Price (2/16/2026): $1.26 | Market Cap: $19.7 Mil
Sector: Financials | Industry: Diversified Capital Markets

Greenidge Generation (GREE)


Market Price (2/16/2026): $1.26
Market Cap: $19.7 Mil
Sector: Financials
Industry: Diversified Capital Markets

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32%
Weak multi-year price returns
2Y Excs Rtn is -109%, 3Y Excs Rtn is -148%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -13 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21%
1 Megatrend and thematic drivers
Megatrends include Crypto & Blockchain, and Datacenter Power. Themes include Cryptocurrency Mining, and Power Grid.
  Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 192%
2   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -15%
3   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -32%
4   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%
5   High stock price volatility
Vol 12M is 125%
6   Key risks
GREE key risks include [1] substantial going concern doubt driven by a significant near-term debt maturity and strained liquidity, Show more.
0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -32%
1 Megatrend and thematic drivers
Megatrends include Crypto & Blockchain, and Datacenter Power. Themes include Cryptocurrency Mining, and Power Grid.
2 Weak multi-year price returns
2Y Excs Rtn is -109%, 3Y Excs Rtn is -148%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -13 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 192%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -15%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -32%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%
8 High stock price volatility
Vol 12M is 125%
9 Key risks
GREE key risks include [1] substantial going concern doubt driven by a significant near-term debt maturity and strained liquidity, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Greenidge Generation (GREE) stock has lost about 30% since 10/31/2025 because of the following key factors:

1. Declining Cryptocurrency Market Performance. Greenidge Generation's stock movement was significantly impacted by a subdued cryptocurrency market, with Bitcoin experiencing a nearly 40% drawdown from its all-time high by February 2026. This period also saw a deleveraging event in October 2025, contributing to a cautious sentiment among market participants and directly affecting the revenue potential for crypto mining companies.

2. Reduced Cryptocurrency Mining Revenue and Persistent Financial Concerns. Despite reporting better-than-expected Q3 2025 earnings, Greenidge Generation faced ongoing financial pressures. Earlier in Q1 2025, the company's cryptocurrency mining revenue significantly decreased by 40%, primarily due to increased global Bitcoin mining difficulty and the Bitcoin halving event in April 2024. Furthermore, the company maintained substantial debt, reported at $60.2 million as of May 2025, indicating a continued need to strengthen its capital structure.

Show more

Stock Movement Drivers

Fundamental Drivers

The -30.6% change in GREE stock from 10/31/2025 to 2/15/2026 was primarily driven by a -32.0% change in the company's P/S Multiple.
(LTM values as of)103120252152026Change
Stock Price ($)1.831.27-30.6%
Change Contribution By: 
Total Revenues ($ Mil)59624.8%
P/S Multiple0.50.3-32.0%
Shares Outstanding (Mil)1516-2.6%
Cumulative Contribution-30.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/15/2026
ReturnCorrelation
GREE-30.6% 
Market (SPY)-0.0%50.8%
Sector (XLF)-1.4%28.6%

Fundamental Drivers

The -19.1% change in GREE stock from 7/31/2025 to 2/15/2026 was primarily driven by a -13.0% change in the company's P/S Multiple.
(LTM values as of)73120252152026Change
Stock Price ($)1.571.27-19.1%
Change Contribution By: 
Total Revenues ($ Mil)59624.5%
P/S Multiple0.40.3-13.0%
Shares Outstanding (Mil)1416-11.0%
Cumulative Contribution-19.1%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/15/2026
ReturnCorrelation
GREE-19.1% 
Market (SPY)8.2%47.7%
Sector (XLF)-1.1%28.1%

Fundamental Drivers

The -6.6% change in GREE stock from 1/31/2025 to 2/15/2026 was primarily driven by a -32.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)13120252152026Change
Stock Price ($)1.361.27-6.6%
Change Contribution By: 
Total Revenues ($ Mil)6462-3.5%
P/S Multiple0.20.342.3%
Shares Outstanding (Mil)1116-32.0%
Cumulative Contribution-6.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/15/2026
ReturnCorrelation
GREE-6.6% 
Market (SPY)14.3%29.6%
Sector (XLF)1.4%20.8%

Fundamental Drivers

The -84.9% change in GREE stock from 1/31/2023 to 2/15/2026 was primarily driven by a -73.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)13120232152026Change
Stock Price ($)8.401.27-84.9%
Change Contribution By: 
Total Revenues ($ Mil)10862-42.6%
P/S Multiple0.30.3-2.3%
Shares Outstanding (Mil)416-73.0%
Cumulative Contribution-84.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/15/2026
ReturnCorrelation
GREE-84.9% 
Market (SPY)74.0%25.7%
Sector (XLF)47.7%18.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
GREE Return-63%-98%132%-77%-5%-24%-100%
Peers Return31%-85%410%-3%66%1%61%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
GREE Win Rate25%8%50%42%42%0% 
Peers Win Rate44%33%73%45%67%60% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
GREE Max Drawdown-69%-99%-45%-77%-61%-30% 
Peers Max Drawdown-31%-87%-4%-47%-43%-13% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: RIOT, MARA, CLSK, HUT, CIFR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/13/2026 (YTD)

How Low Can It Go

Unique KeyEventGREES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-99.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven27258.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to RIOT, MARA, CLSK, HUT, CIFR

In The Past

Greenidge Generation's stock fell -99.6% during the 2022 Inflation Shock from a high on 9/16/2021. A -99.6% loss requires a 27258.5% gain to breakeven.

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About Greenidge Generation (GREE)

Greenidge Generation Holdings Inc. operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenters in New York and South Carolina. It also owns and operates a 106 MW power generation facility. The company was founded in 1937 and is based in Fairfield, Connecticut.

AI Analysis | Feedback

Here are 1-3 brief analogies for Greenidge Generation (GREE):
  • Like a Bitcoin mining company (e.g., Marathon Digital), but they own the power plant that generates their electricity.
  • Imagine a power utility like NextEra Energy, but they dedicate a large portion of their self-generated electricity to mining Bitcoin.
  • Similar to an independent power producer (e.g., Vistra Energy), but they also operate a large-scale Bitcoin mining facility that consumes much of their generated power.

AI Analysis | Feedback

  • Electricity Generation: Produces and sells wholesale electricity from its natural gas-fired power plant to the New York State electric grid.
  • Bitcoin Mining: Operates a large-scale data center adjacent to its power plant, utilizing self-generated electricity to mine Bitcoin.

AI Analysis | Feedback

Greenidge Generation (symbol: GREE) operates a vertically integrated bitcoin mining facility and power generation plant. Its revenue streams are primarily derived from digital asset mining, power sales, and hosting services. While its largest revenue source (bitcoin mining) involves selling a commodity into a global market via exchanges, its direct business relationships are primarily with other companies. Therefore, Greenidge Generation's major customers and categories of customers include:
  • New York Independent System Operator (NYISO): Greenidge sells excess electricity generated by its power plant into the New York wholesale energy market. The NYISO is the direct market operator and counterparty for these power sales. NYISO is a non-profit corporation and does not have a public stock symbol.
  • Cryptocurrency Exchanges: For its primary revenue stream of bitcoin mining, Greenidge sells the mined bitcoin on various cryptocurrency exchanges. These exchanges (e.g., Coinbase, Kraken, Binance, etc.) are companies that facilitate the sale of digital assets to a broad range of buyers. While Greenidge transacts with these companies, no single exchange is typically identified as a "major customer" due to the fungible nature of bitcoin and the use of multiple trading platforms.
  • Other Bitcoin Mining Companies: Greenidge provides hosting services, including power and infrastructure, to other companies engaged in bitcoin mining. The specific names of these hosting clients are generally not publicly disclosed.

AI Analysis | Feedback

  • Bitmain

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Jordan Kovler, Chief Executive Officer

Mr. Kovler has served as Greenidge's Chief Executive Officer since November 2023 and as a member of its Board of Directors since March 2023. In 2016, he co-founded HKL & Co., LLC, a consulting and proxy solicitation firm, where he currently serves as a Managing Director, focusing on special corporate situations, contested board elections, mergers and acquisitions, investor relations, and corporate governance. Prior to co-founding HKL & Co., LLC, from 2003 to 2015, he held progressively senior roles, including Senior Vice President, at D.F. King & Co., Inc., another proxy solicitation firm. Mr. Kovler also serves in advisory roles with numerous Web3 companies.

Christian Mulvihill, Chief Financial Officer

Mr. Mulvihill serves as Chief Financial Officer at Greenidge, a role he assumed after joining the company in 2021 as Vice President of Engineering and Corporate Development. Prior to Greenidge, he was an Associate at Atlas Holdings, a private equity firm, where he specialized in power, energy, and bitcoin mining. From 2018 to 2020, he held various senior roles at Granite Shore Power, an independent power producer. He began his career as a Project Manager in the Canadian Natural Gas Pipelines business at TC Energy.

Dale Irwin, President

Mr. Irwin has served as Greenidge's President since the company was acquired by its Controlling Stockholder in February 2014, and he began serving solely as President, overseeing day-to-day operations, in March 2021. He previously served as Chief Executive Officer of Greenidge from 2014 until March 2021. Mr. Irwin has over 20 years of international experience in leading teams and managing projects, with more than 18 years in the energy sector. He has managed capital projects, including the conversion of Greenidge from a coal-fired power plant to a natural gas-powered plant and, subsequently, a power plant-bitcoin mining company.

Dustin Beaudry, Chief Technology Officer

Mr. Beaudry has served as Greenidge's Chief Technology Officer since January 2021. He brings over 18 years of consulting and operating experience as a technology professional. Before joining Greenidge, Mr. Beaudry was Director of Technology and Operations at Pegasus Capital Advisors, a private equity firm. In that role, he held senior management roles and advisory engagements with portfolio companies across various industries. He also served as Director of Management Consulting at RSM US LLP.

Scott MacKenzie, Chief Strategy Officer

Mr. MacKenzie is an experienced leader with extensive experience in mergers and acquisitions, business development, and strategic planning. He served as the Vice President, Corporate Development for Millar Western from June 2019. From June 2016 to June 2019, he was the Director, Corporate Development and Strategic Planning at Stuart Olson Inc., a large construction services company in Canada. Prior to Stuart Olson, Mr. MacKenzie held various senior management roles with the ATCO Group, an engineering and logistics company.

AI Analysis | Feedback

The key risks to Greenidge Generation (GREE) primarily stem from its financial stability, its exposure to volatile markets, and operational and regulatory challenges.

  1. Significant Financial Risks and Going Concern Uncertainty: Greenidge Generation faces substantial financial challenges, including a significant debt burden and historical operating losses. The most immediate and material financial risk is the maturity of its Senior Notes, with $38.4 million outstanding as of September 30, 2025, due in October 2026. The company's limited cash reserves of $7.6 million as of Q3 2025 and negative year-to-date operating cash flow through Q3 2025 indicate a liquidity strain. These factors collectively raise substantial doubt about the company's ability to continue as a going concern, despite recent efforts to reduce debt through exchanges.
  2. High Volatility in Cryptocurrency Markets and Energy Prices: As a vertically integrated power generator and Bitcoin miner, Greenidge's revenue and profitability are critically dependent on two highly volatile external factors: the market price of Bitcoin and the cost of energy (electricity and natural gas). Fluctuations in Bitcoin's value directly impact mining profitability, and the company has historically failed to fully capitalize on Bitcoin price surges. Additionally, events like Bitcoin halvings can reduce mining incentives and impact revenue.
  3. Operational Concentration and Regulatory/Environmental Challenges: Greenidge's primary operations are concentrated at its Dresden, New York, facility, creating significant geographic and operational risk exposure. This vulnerability was highlighted by a recent electrical switchgear failure and fire at the Dresden facility in November 2025, leading to a complete shutdown and operational downtime. While the company recently secured a legal victory regarding its New York air permit, the regulatory landscape for energy-intensive cryptocurrency mining remains evolving, and environmental liabilities and compliance costs continue to be significant concerns. The company also faces customer concentration risk, relying heavily on a single hosting services customer.

AI Analysis | Feedback

Increasing regulatory and legislative scrutiny, particularly regarding the environmental impact and energy consumption of proof-of-work cryptocurrency mining, poses a clear emerging threat. This includes potential restrictions, moratoriums, or outright bans on such operations, especially for those relying on fossil fuel-powered electricity generation, which could significantly impact Greenidge's ability to operate, expand, or obtain future necessary permits in key jurisdictions like New York State.

AI Analysis | Feedback

Greenidge Generation (GREE) operates in three primary addressable markets: cryptocurrency mining, data center services, and power generation.

Cryptocurrency Mining

The global cryptocurrency mining market is estimated to be valued at approximately USD 2.44 billion in 2025 and is projected to reach USD 4.43 billion by 2032, exhibiting an 8.9% compound annual growth rate (CAGR) from 2025 to 2032. Another projection indicates the global cryptocurrency mining market is valued at USD 2.75 billion in 2025, with a projected CAGR of 13.2% through 2035. Total global mining revenue is projected to be USD 20.4 billion in 2025, with Bitcoin mining specifically contributing an estimated USD 13.5 billion in the same year. The global Bitcoin Miner Market was valued at USD 11.19 billion in 2024 and is projected to reach USD 14.17 billion in 2025, with an anticipated growth to USD 94.14 billion by 2033, demonstrating a CAGR of 26.7%. In terms of regional share, North America is a significant player, dominating the global cryptocurrency mining market with an estimated market share of 44.1% in 2025. It also accounts for 33% of the global Bitcoin Miner market share.

Data Center Services

The global data center and hosting market was valued at approximately USD 106.81 billion in 2023 and is projected to grow at a CAGR of 8.75% to reach USD 162.48 billion by 2028. Furthermore, the global data center service market size reached USD 148.31 billion in 2025 and is projected to reach USD 316.65 billion by 2031, expanding at a robust 16.38% CAGR. Another report values the hosting and data center market at USD 101.8 billion in 2024, with an expected increase to USD 108.2 billion in 2025 and USD 200 billion by 2035, at a CAGR of approximately 6.3%. North America holds a substantial share of this market, leading the data center services market with a 37.4% market share. It also represents 30.8% of the global data center and hosting market.

Power Generation

The global power generation market size was valued at USD 1,062.27 billion in 2024 and is projected to grow to USD 1,185.11 billion in 2025, reaching USD 2,022.56 billion by 2032, with a CAGR of 7.94%. Another estimate places the global power generation market size at USD 1.47 trillion in 2025, anticipated to exceed USD 2.76 trillion by 2035, growing at a CAGR of over 6.5%. The market was also valued at USD 1,012.46 billion in 2023 and is expected to grow by 7.9% from 2024 to 2030, reaching nearly USD 1,723.97 billion. For the United States specifically, the power generation market is projected to reach an estimated value of USD 307.89 billion by 2032, and the U.S. market is likely to hit USD 181.94 billion in 2025. North America dominated the power generation market in 2023.

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Expected Drivers of Future Revenue Growth for Greenidge Generation (GREE)

Over the next 2-3 years, Greenidge Generation (GREE) is expected to drive future revenue growth through several key initiatives, primarily focusing on expanding its cryptocurrency mining operations, growing its datacenter hosting services, enhancing power generation, and improving operational efficiency. One significant driver is the expansion of cryptocurrency mining capacity and efficiency. Greenidge Generation has actively pursued increasing its mining capacity through strategic buildouts and purchases of more efficient miners. For example, the company completed successful buildouts of 15MW of mining in Mississippi and North Dakota in 2024, diversifying its geographic profile. Looking ahead, Greenidge expects to add 2.5MW of planned mining capacity in Q2 or Q3 2025 and at least 40MW by Q2 2026, aiming for a total near-term mining capacity of 161.5MW. The company has also focused on improving the efficiency of its miner fleet, with its active fleet efficiency improving to 23.8 J/TH in Q1 2025 from 26.6 J/TH as of March 31, 2025, and further to 23.6 J/TH by Q2 2025, through the purchase of more efficient miners. These efforts are expected to increase Bitcoin production and, consequently, cryptocurrency mining revenue. Another driver is the growth in datacenter hosting revenue. Greenidge operates a diversified revenue stream that includes hosting arrangements for cryptocurrency datacenters. This segment has shown consistent contributions to total revenue, generating $7.3 million in Q4 2024, an improvement from Q3 2024, and $5.8 million in Q1 2025 and $6.0 million in Q2 2025. As the demand for cryptocurrency datacenter hosting continues, Greenidge's ability to offer its infrastructure and power generation capabilities to other miners is a key component of its revenue strategy. Furthermore, stable and potentially growing power and capacity revenue from its power generation facilities contributes to overall revenue. Greenidge is a vertically integrated cryptocurrency datacenter and power generation company. Its power and capacity revenue was $3.5 million in Q4 2024, an improvement from Q3 2024, and $9.2 million in Q1 2025. The company's Dresden facility in New York, which supplies electricity to the local grid while powering its cryptocurrency mining operations, recently secured a five-year renewal of its Title V Air Permit. This agreement ensures continued operation and includes mandates for significant emissions reductions, stabilizing a critical aspect of its power generation business and allowing for sustained power and capacity revenue. Finally, strategic acquisitions and site expansions with access to low-cost power represent a driver for future growth. Greenidge has been actively exploring and executing on opportunities to expand its mining operations geographically and to secure access to additional low-cost power. Examples include the successful buildouts in Mississippi and North Dakota, and the agreement to purchase a 37-acre site in Mississippi with access to 40 MW of additional low-cost power by July 2026. The company also continues to explore various options to grow mining operations amid surging institutional and sovereign demand for Bitcoin. These strategic moves are aimed at increasing overall operational capacity and reducing energy costs, thereby enhancing profitability and revenue potential.

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Share Issuance

  • Greenidge Generation experienced net total equity issued amounting to $85 million in 2021, $9 million in 2022, $21 million in 2023, and $11 million in 2024.
  • In February 2024, Armistice Capital made an initial investment of $6 million through the purchase of shares and pre-funded warrants.
  • Greenidge has also engaged in privately negotiated debt-for-equity exchanges to reduce senior unsecured debt, including approximately $3.7 million in 2024 and further reductions in 2025.

Inbound Investments

  • In February 2024, Greenidge Generation secured a $6 million investment from Armistice Capital to fund its growth strategy, including expansion into low-cost power centers, bitcoin mining, its EPCM business, and new AI infrastructure/data centers.

Capital Expenditures

  • During 2024, Greenidge completed successful buildouts of 15MW of mining capacity across its Mississippi and North Dakota sites.
  • The company upgraded its miner fleet in 2024 by purchasing over 1,000 S21 Pro and S19XP miners, enhancing fleet efficiency.
  • Greenidge projects to add 2.5MW of mining capacity in Q2 or Q3 2025 and at least 40MW by Q2 2026, aiming for a total near-term mining capacity of 161.5MW.

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Peer Comparisons

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Financials

GREERIOTMARACLSKHUTCIFRMedian
NameGreenidg.Riot Pla.MARA Cleanspa.Hut 8 Cipher M. 
Mkt Price1.2715.227.929.8553.8716.4212.54
Mkt Cap0.05.32.92.85.76.54.1
Rev LTM62637919785668206653
Op Inc LTM-13-324-625-167403-142-154
FCF LTM-20-1,631-1,323-1,045-752-522-898
FCF 3Y Avg-25-906-736-860-302-328-532
CFO LTM-14-566-891-503-104-182-343
CFO 3Y Avg-14-229-554-293-59-116-173

Growth & Margins

GREERIOTMARACLSKHUTCIFRMedian
NameGreenidg.Riot Pla.MARA Cleanspa.Hut 8 Cipher M. 
Rev Chg LTM-3.5%103.6%53.5%68.0%88.7%35.4%60.7%
Rev Chg 3Y Avg-15.1%37.8%82.7%91.2%135.5%-82.7%
Rev Chg Q23.2%112.6%91.7%11.6%279.5%197.5%102.2%
QoQ Delta Rev Chg LTM4.8%17.6%15.1%2.5%21.4%30.0%16.4%
Op Mgn LTM-21.1%-50.8%-68.0%-21.2%60.3%-68.7%-36.0%
Op Mgn 3Y Avg-36.4%-80.1%-57.8%-27.5%35.9%-65.1%-47.1%
QoQ Delta Op Mgn LTM4.8%18.4%7.5%-7.2%0.9%25.0%6.1%
CFO/Rev LTM-22.7%-88.8%-97.0%-64.0%-15.5%-88.4%-76.2%
CFO/Rev 3Y Avg-22.4%-42.8%-98.4%-54.1%-20.6%-75.2%-48.4%
FCF/Rev LTM-32.3%-256.0%-144.0%-133.1%-112.5%-252.7%-138.5%
FCF/Rev 3Y Avg-38.5%-207.0%-123.8%-187.2%-61.5%-204.0%-155.5%

Valuation

GREERIOTMARACLSKHUTCIFRMedian
NameGreenidg.Riot Pla.MARA Cleanspa.Hut 8 Cipher M. 
Mkt Cap0.05.32.92.85.76.54.1
P/S0.38.33.23.58.531.35.9
P/EBIT5.128.62.4-11.115.2-95.03.8
P/E-12.232.23.2-10.627.6-91.5-3.7
P/CFO-1.4-9.3-3.3-5.5-54.9-35.4-7.4
Total Yield-8.2%3.1%31.4%-9.4%3.6%-1.1%1.0%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-104.3%-24.9%-19.6%-33.4%-8.3%-14.2%-22.3%
D/E2.30.21.20.60.10.20.4
Net D/E1.90.11.00.20.1-0.00.1

Returns

GREERIOTMARACLSKHUTCIFRMedian
NameGreenidg.Riot Pla.MARA Cleanspa.Hut 8 Cipher M. 
1M Rtn-17.0%-20.9%-30.3%-26.3%-9.7%-12.7%-18.9%
3M Rtn-3.1%9.1%-33.9%-10.1%45.8%14.3%3.0%
6M Rtn-13.0%34.3%-49.5%1.0%131.0%215.2%17.7%
12M Rtn16.5%24.0%-53.1%-6.2%163.2%171.0%20.3%
3Y Rtn-79.7%139.3%9.8%190.6%412.6%768.8%164.9%
1M Excs Rtn-21.7%-10.8%-27.4%-24.9%-6.4%-8.1%-16.2%
3M Excs Rtn-18.4%-1.3%-44.8%-25.9%29.3%-5.3%-11.8%
6M Excs Rtn-15.0%18.6%-55.4%-6.7%120.7%203.0%5.9%
12M Excs Rtn3.6%23.4%-64.2%-19.3%152.2%171.1%13.5%
3Y Excs Rtn-148.4%67.4%-49.7%122.0%346.5%814.3%94.7%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil2024202320222021
Datacenter Operations70   
Cryptocurrency mining revenue 7488 
Datacenter hosting 0  
Power and capacity 169 
Cryptocurrency Datacenter and Power Generation   20
Total70909720


Net Income by Segment
$ Mil2024202320222021
Datacenter Operations-30   
Total-30   


Price Behavior

Price Behavior
Market Price$1.27 
Market Cap ($ Bil)0.0 
First Trading Date09/15/2021 
Distance from 52W High-43.6% 
   50 Days200 Days
DMA Price$1.51$1.53
DMA Trendupdown
Distance from DMA-15.8%-17.0%
 3M1YR
Volatility91.1%126.1%
Downside Capture445.66373.89
Upside Capture398.40349.67
Correlation (SPY)46.9%30.2%
GREE Betas & Captures as of 1/31/2026

 1M2M3M6M1Y3Y
Beta1.122.244.704.411.782.02
Up Beta-2.72-3.6011.175.760.960.88
Down Beta1.652.592.623.630.951.78
Up Capture-13%239%286%559%907%2205%
Bmk +ve Days11223471142430
Stock +ve Days6152356104320
Down Capture339%379%373%318%167%113%
Bmk -ve Days9192754109321
Stock -ve Days13223362135410

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GREE
GREE9.9%125.4%0.61-
Sector ETF (XLF)1.6%19.3%-0.0421.3%
Equity (SPY)14.0%19.4%0.5530.2%
Gold (GLD)74.3%25.3%2.175.1%
Commodities (DBC)7.0%16.7%0.2412.2%
Real Estate (VNQ)7.9%16.6%0.2813.4%
Bitcoin (BTCUSD)-29.8%44.9%-0.6546.5%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GREE
GREE-69.3%130.0%-0.45-
Sector ETF (XLF)12.4%18.7%0.5422.6%
Equity (SPY)13.3%17.0%0.6230.0%
Gold (GLD)22.1%17.0%1.066.2%
Commodities (DBC)10.5%18.9%0.447.7%
Real Estate (VNQ)5.2%18.8%0.1821.4%
Bitcoin (BTCUSD)8.3%57.2%0.3741.4%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with GREE
GREE-44.5%130.0%-0.45-
Sector ETF (XLF)13.8%22.2%0.5722.6%
Equity (SPY)15.6%17.9%0.7530.0%
Gold (GLD)15.3%15.6%0.826.2%
Commodities (DBC)8.1%17.6%0.387.7%
Real Estate (VNQ)6.4%20.7%0.2721.4%
Bitcoin (BTCUSD)67.9%66.7%1.0741.4%

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Short Interest

Short Interest: As Of Date1302026
Short Interest: Shares Quantity0.5 Mil
Short Interest: % Change Since 1152026-1.4%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest4.0 days
Basic Shares Quantity15.7 Mil
Short % of Basic Shares3.4%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/13/2025-9.0%-17.9%0.0%
8/13/2025-4.8%-8.8%2.0%
5/15/202511.8%74.5%44.1%
3/6/20257.8%-9.7%-16.6%
11/7/2024-7.4%1.6%-4.9%
8/14/2024-7.7%20.8%3.3%
5/1/2024-13.4%-1.5%-2.2%
2/6/20242.4%31.4%10.6%
...
SUMMARY STATS   
# Positive556
# Negative111110
Median Positive4.7%20.8%4.4%
Median Negative-9.0%-12.1%-35.6%
Max Positive11.8%74.5%44.1%
Max Negative-23.8%-38.3%-53.5%

SEC Filings

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Report DateFiling DateFiling
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/07/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202304/10/202410-K
09/30/202311/14/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/31/202310-K
09/30/202211/14/202210-Q
06/30/202208/15/202210-Q
03/31/202205/16/202210-Q
12/31/202103/31/202210-K

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Mulvihill, ChristianChief Financial OfficerDirectSell101520252.076091,261201,637Form
2Mulvihill, ChristianChief Financial OfficerDirectSell91720251.46627915143,114Form
3Mulvihill, ChristianChief Financial OfficerDirectSell81320251.36615836134,157Form
4Mulvihill, ChristianChief Financial OfficerDirectSell80620251.501,6962,544148,890Form
5Irwin, DalePresidentDirectSell80620251.501,7272,590157,905Form