Greenidge Sees Prelim. Q3 Revenue $12.4M, Total Bitcoin Production 167, Reports SG&A Expense Reduction Of ~$9.1M YTD
Portfolio Pulse from Benzinga Newsdesk
Greenidge Generation Holdings reported preliminary Q3 revenue of $12.4 million and a total Bitcoin production of 167. The company also announced a significant reduction in SG&A expenses by approximately $9.1 million year-to-date.
October 14, 2024 | 1:05 pm
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Greenidge Generation Holdings reported preliminary Q3 revenue of $12.4 million and a total Bitcoin production of 167. The company also announced a significant reduction in SG&A expenses by approximately $9.1 million year-to-date.
The preliminary Q3 revenue of $12.4 million and Bitcoin production of 167 are positive indicators of Greenidge's operational performance. The significant reduction in SG&A expenses by $9.1 million year-to-date suggests improved cost management, which is likely to positively impact profitability. These factors combined are likely to have a positive short-term impact on GREE's stock price.
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