Greenidge Generation stock surges as Q4 results reflect strong revenue growth

Greenidge Generation (NASDAQ:GREE) shares spiked as much as 45% in midday trading Friday as the Bitcoin (BTC-USD) miner's fourth-quarter results highlighted substantial Y/Y revenue and EBITDA growth. Q4 revenue of $44.28M came in slightly below the consensus but up significantly from $6.17M in Q4 2020. Crypto datacenter revenue was $33.68M in Q4, up from just $4.34M in the same period a year ago. Q4 adjusted EBITDA of $19.1M, or 43.2% of revenue vs. $1.2M, or 19.2% of revenue in the year-ago period. It mined 609 Bitcoins (BTC-USD) in Q4, up from 228 in Q4 2020. As of Dec. 31, 2021, Greenidge (GREE) had ~17.3K miners with an aggregate hash rate capacity of 1.4 exahash per second. As for its Q1 update, the company anticipates having approximately 19.4K miners at its datacenters in New York and South Carolina as of March 31, 2022 with approximately 1.6 EH/s of capacity. It has ~29.6K additional miners scheduled for delivery from