Greenidge Generation Q1 earnings jump from a year ago, slip from Q4

Greenidge Generation Holdings (NASDAQ:GREE) Q1 total revenue of $37.7M exceeded the sole analyst estimate of $36.9M and jumped 240% from a year ago. Still, it fell from $44.3M in Q4 2021. Cryptocurrency datacenter revenue of $23.2M vs. $33.7M in Q4 and $9.00M in Q1 2021. Power and capacity revenue of $5.92M rose from $2.17M in Q4 and from $2.07M in Q1 2021. The company also had $8.50M of revenue from services and other vs. no revenue from that segment in Q4 2021 or Q1 2021. Q1 GAAP EPS of -$0.01 came in better than the sole analyst estimate of -$0.10 and declined from $0.02 in the year-ago quarter. Q1 adjusted EBITDA of $9.2M increased from $4.2M in Q1 2021 and declined from $19.1M in Q4 2021. During April 2022, Greenidge (GREE) produced 197 bitcoin (BTC-USD). As of April 30, 2022, the company had 1.6 EH/s of mining capacity from 19,600 miners.