Greenidge Generation Q4 revenue guidance boost offset with impairment charge

Cryptocurrency miner Greenidge Generation (NASDAQ:GREE) sees Q4 revenue of ~$44M jumping from $35.8M in Q3, according to the company's preliminary fourth quarter and full year results. Meanwhile, the guidance boost was offset with an anticipated net loss of $51M-41M, including a noncash goodwill impairment charge related to the Support.com business of $42-47M, the report said. Saw adjusted EBITDA of $18M-20M in Q4, down from $21.2M in the third quarter. The company mined 609 bitcoins in Q4 vs. 729 in the previous period. Q4 mining capacity of approximately 1.4 EH/s from 17,300 miners, compared with 15,300 miners deployed with 1.2 EH/s capacity in Q3. Additionally, it ended the year with $85 million of cash, short-term investments and fair market value of cryptocurrency holdings, up from $53.0M in the the prior quarter. Shares of GREE slide 2% out of the gate.