Greenidge Generation
Greenidge Generation is a vertically integrated natural-gas power generator and bitcoin miner that operates its own generation facilities behind the meter to mine cryptocurrency, sells hashpower contracts to institutional investors, and is pivoting toward AI/HPC data center hosting.
- Company typePublic
- Founded1937
- HeadquartersDresden, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Greenidge Generation does
Greenidge Generation Holdings Inc. is a vertically integrated power generator and cryptocurrency miner that traces its operational roots to a coal-fired plant commissioned in 1937 in Dresden, New York, converted to natural gas by Atlas Holdings in 2017. The company began commercial bitcoin mining in 2020 behind the meter of its own 106MW generation facility, drawing on access to the Empire Pipeline System for low-cost natural gas. It went public in September 2021 through a merger with Nasdaq-listed Support.com (ticker: GREE), and currently operates sites in Dresden NY (up to 110MW grid / 60MW mining), a former Spartanburg SC facility divested in 2024-2025, a 37-acre Columbus MS site with 40MW expected online March 2027, and a 7.5MW lease in Underwood ND.
The product portfolio centers on self-mining bitcoin using proprietary infrastructure, hosting services for third-party miners, structured hashpower contracts for US institutional investors (executed via BitOoda Digital), and the Pod X mining pod hardware (792 miners per unit, 35% above competing pod capacity) with associated EPCM and operating services. Revenue derives from four streams: self-mining bitcoin, sale of power and capacity to the grid, Pod X hardware and EPCM services, and hashpower contract fees. Pricing is not publicly disclosed; hashpower and Pod X contracts are negotiated individually.
Customer segments include US institutional investors seeking compliant Bitcoin exposure, third-party cryptocurrency mining operators, and — as the company repositions — AI and HPC infrastructure tenants. As of Q1 2026, the company reported $20.8 million in quarterly revenue with power and capacity revenue more than doubling year-over-year to $18.7 million, and is actively pivoting its owned generation capacity toward AI/HPC data center hosting while divesting non-core mining assets and restructuring its debt load.
Greenidge Generation firmographics
Firmographics- Name
- Greenidge Generation
- Legal name
- Greenidge Generation Holdings Inc.
- Website
- https://vulcanip.com
- Company type
- Public
- Founded year
- 1937
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Greenidge Generation is a vertically integrated natural-gas power generator and bitcoin miner that operates its own generation facilities behind the meter to mine cryptocurrency, sells hashpower contracts to institutional investors, and is pivoting toward AI/HPC data center hosting.
- Ownership category
- akta.pro rank
Greenidge Generation industry classification
Industry- Product category
- Cryptocurrency Mining and Power Generation
- NAICS
- Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991), Electrical Industrial Apparatus (3620)
- akta.pro primary industry
- Reciprocating Gas Engine Power Plants (RICE) (EUACABAC)
- akta.pro secondary industries
- Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves) (EUAFAHAD), Community Microgrids & Shared Distributed Generation (EUACALAC), Engine Generator & Microgrid Power Plant EPC (Diesel/Gas Recip) (EUAEAAAJ)
Keywords
Where Greenidge Generation is headquartered
LocationHeadquarters
- HQ city
- Dresden
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Greenidge Generation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D
Revenue model
- Bitcoin Mining: Self-mining bitcoin operations using proprietary mining infrastructure and low-cost power to generate cryptocurrency revenue. The company also operates hosting services for third-party customers.
- Power and Capacity Sales: Selling electricity to the grid when power prices are favorable, with up to 110MW sold to the grid and up to 60MW redirected to Bitcoin mining when prices fall.
- Pod X Sales and EPCM Services: Sale of proprietary mining pod infrastructure and engineering, procurement, construction and operating services to third parties.
- Hashpower Contracts: Institutional investors purchase computing power (hashpower) through structured contracts, enabling ownership of Bitcoin at a discount to market spot price.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Institutional hashpower contracts |
| Unit Pricing | Multi-year contract | Pod X Mining Infrastructure |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Greenidge Generation product offering
Product offeringCore offering
Greenidge Generation is a vertically integrated power generator and bitcoin mining company that operates natural gas-fired power plants to supply electricity to the grid and to its own behind-the-meter cryptocurrency mining operations. The company sells Pod X mining hardware, offers hosting services for third-party miners, provides structured hashpower contracts for institutional investors, and is transitioning into AI/HPC data center infrastructure.
Product overview
Greenidge Generation operates as a vertically integrated power generator and bitcoin miner of scale in the United States. The company's product portfolio includes the Pod X hardware product (a bitcoin mining pod with 792 miner capacity), bitcoin mining services for self-mining and hosting customers, bitcoin hashpower contracts for institutional investors, and power generation infrastructure across multiple facilities in New York, Mississippi, and North Dakota. The company also provides EPCM and operating services for mining site development. The core offering combines proprietary mining hardware with low-cost power access to deliver bitcoin mining services to both retail hosting customers and institutional investors.
Differentiator
Problem solved
Functional benefit
Brands
- Pod X: A cryptocurrency mining pod solution featuring 792 miner capacity, 35% more than other pod manufacturers, with engineered noise reduction and full NFPA 70 compliance
Products and services
- Pod X Bitcoin Mining Solution
- Bitcoin Mining Services
- Bitcoin Hashpower Contracts
- EPCM and Operating Services
Quantifiable outcome
- Nearly 75% reduction in historic carbon emissions from plant
- +2 more outcomes
Companies that use Greenidge Generation
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Greenidge Generation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Greenidge Generation partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core, flagship and minor.
- Data JourneycoreGreenidge sold its South Carolina property to Data Journey for $12.1 million in cash plus an 8% stake in planned data center's profits, establishing a strategic partnership for data center development.
- Infinite RealityflagshipAnnounced new partnership and equity swap in December 2023, representing Greenidge's strategic expansion into broader digital infrastructure and AI/HPC datacenter services beyond cryptocurrency mining.
- Conifex TimberminorHosting services agreement enabling Greenidge to deploy mining infrastructure at Conifex Timber facility in British Columbia using renewable energy sources.
- BitmaincoreGreenidge expanding Bitcoin mining fleet with order of latest generation mining machines from Bitmain, selected as launch customer for next generation Bitmain equipment including S19 XP miners.
- BitOoda Digital LLCcoreBitOoda structured and executed the first Bitcoin hashpower contract sale by Greenidge, enabling US institutional investors to purchase 106 Petahash of computing power through the BitOoda Hash contract, a pioneering fully-compliant financial product for hashpower transactions.
- Local Advisory GroupminorCommunity advisory group of local supporters providing feedback and community relations support for Greenidge operations in Dresden, New York.
Scale indicators15 records
Recent moves10 records
Expansion highlights6 records
Greenidge Generation competitors and assessment
Company assessmentDirect peers
- Cipher Mining: Bitcoin miner developing industrial-scale facilities with power infrastructure in the US, comparable in its pursuit of grid-connected, large-scale mining operations and HPC opportunities.
- Core Scientific: Bitcoin miner and HPC hosting provider emerging from Chapter 11, with similar dual focus on self-mining and third-party hosting/AI compute services using owned infrastructure.
- Bitfarms: Public Bitcoin miner operating multiple sites with owned/contracted power, comparable in its pursuit of low-cost power to support scaled mining operations across multiple geographies.
- Stronghold Digital Mining: Vertically integrated cryptocurrency miner with owned coal-waste-to-power generation, sharing Greenidge's model of using captive low-cost power to operate behind-the-meter Bitcoin mining.
- Hut 8: Vertically integrated Bitcoin miner and data center operator with owned power generation and hosting infrastructure, directly comparable in business model combining self-mining, hosting, and managed infrastructure services.
- Iris Energy (IREN): Renewable-powered Bitcoin miner pivoting toward AI/HPC data center hosting, directly comparable to Greenidge's transition strategy from Bitcoin mining to AI compute infrastructure while retaining owned power infrastructure.
- TeraWulf: Vertically integrated Bitcoin miner operating owned power generation infrastructure, with a similar thesis of using low-cost, behind-the-meter power (including nuclear and natural gas) to drive mining and emerging HPC/AI data center hosting revenue.
Broad incumbents
- Riot Platforms: Large-cap publicly traded Bitcoin miner with significant operational scale and growing infrastructure/hosting business, providing a comparison point on public-market mining economics and capital structure.
- Vistra Corp: Large independent power producer with a publicly stated strategy of pivoting capacity toward AI/data center demand, comparable as a much larger incumbent validating the same power-to-AI thesis Greenidge is pursuing at smaller scale.
- Marathon Digital Holdings: One of the largest publicly traded Bitcoin miners by hash rate, comparable as a broad incumbent in the institutional Bitcoin mining space, though without Greenidge's owned generation model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Greenidge Generation social profiles
Digital presenceGreenidge Generation compliance and trust
Trust signalCompliance4 records
Greenidge Generation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Greenidge Generation leadership team
Management profileNumber of profiles
Profiles4 records
Greenidge Generation subsidiaries and ownership
Company hierarchySubsidiaries2 records
Greenidge Generation funding detail
Funding detailFunding overview
Funding rounds9 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Greenidge Generation M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Greenidge Generation
What does Greenidge Generation do?
Greenidge Generation is a vertically integrated power generator and bitcoin mining company that operates natural gas-fired power plants to supply electricity to the grid and to its own behind-the-meter cryptocurrency mining operations. The company sells Pod X mining hardware, offers hosting services for third-party miners, provides structured hashpower contracts for institutional investors, and is transitioning into AI/HPC data center infrastructure.
Is Greenidge Generation a public or private company?
Greenidge Generation is a public company. It is classified as public and is currently operating.
When was Greenidge Generation founded?
Greenidge Generation was founded in 1937. It employs 11 to 50 people.
Where is Greenidge Generation based?
Greenidge Generation is headquartered in Dresden, United States, in the North America region.
How does Greenidge Generation make money?
Four revenue lines are on record. Bitcoin Mining is the primary driver. The others are power and Capacity Sales, pod X Sales and EPCM Services and hashpower Contracts.
Who are Greenidge Generation's main competitors?
Direct peers on record are Cipher Mining, Core Scientific, Bitfarms, Stronghold Digital Mining, Hut 8, Iris Energy (IREN) and TeraWulf. Broad incumbents are Riot Platforms, Vistra Corp and Marathon Digital Holdings.
Does Greenidge Generation have an API?
No public API is recorded for Greenidge Generation.
What industry is Greenidge Generation in?
Greenidge Generation's product category is Cryptocurrency Mining and Power Generation. Its primary akta.pro industry code is EUACABAC, Reciprocating Gas Engine Power Plants (RICE), with a secondary code of EUAFAHAD, Utility-Scale VPPs & Grid Services Aggregation (Capacity, Frequency, Reserves). Its NAICS code is 221112 and its SIC code is 4991.