SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

5. SEGMENT INFORMATION

Effective September 14, 2021, following the completion of the Merger (see Notes 1 and 3), Support.com began operating within the Greenidge structure as a separate operating and reporting segment; therefore, Greenidge has two operating and reportable segments since the acquisition: i) Cryptocurrency Datacenter and Power Generation and ii) Support Services as the other. Prior to the Merger, Greenidge operated in one operating and reporting segment, Cryptocurrency Datacenter and Power Generation.

The Cryptocurrency Datacenter and Power Generation segment generates revenue primarily by earning bitcoin, with miners that are owned by the Company, as rewards and transaction fees for supporting the global bitcoin network. The Cryptocurrency Datacenter and Power Generation segment also sells surplus electricity generated by its power plant, and not consumed in cryptocurrency datacenter operations, to the NYISO power grid at prices set on a daily basis through the NYISO wholesale market. In addition, the

Company receives revenues from the sale of its capacity and ancillary services in the NYISO wholesale market. The Cryptocurrency Datacenter and Power Generation segment operates in the United States.

The Support Services segment provides solutions and technical programs to customers delivered by home-based employees. The Support Services segment provides customer service, sales support, and technical support primarily to large corporations, businesses and professional services organizations. The Support Services segment also earns revenues for end-user software products provided through direct customer downloads and sale via partners. The Support Services segment operates primarily in the United States, but also has employees located in Philippines, India, Mexico, Colombia and Canada, including those staff providing support services.

The Company’s measure of profit or loss for segment reporting is income (loss) before income taxes, interest and depreciation and amortization and adjusted for share based compensation and excluding items not indicative of ongoing business trends (referred to as “segment Adjusted EBITDA”). This is the measure used by the Chief Operating Decision Maker (“CODM”) to assess performance and allocate resources.

The table below presents information about reportable segments for the years ended December 31, 2021 and 2020, respectively:

	Years Ended December 31,
$ in thousands	2021		2020
Revenues:
Cryptocurrency Datacenter and Power Generation	$	97,325	$	20,114
Support Services		9,952		-
Total Revenues	$	107,277	$	20,114
Segment Adjusted EBITDA
Cryptocurrency Datacenter and Power Generation	$	51,689	$	3,050
Support Services		1,185		-
Total Segments Adjusted EBITDA	$	52,874	$	3,050

In addition, the table below provides a reconciliation of the total of the segments Adjusted EBITDA to the consolidated Loss before income taxes:

	Years Ended December 31,
$ in thousands	2021			2020
Total Segments Adjusted EBITDA	$	52,874		$	3,050
Depreciation and amortization		(8,855	)		(4,564	)
Stock-based compensation		(3,770	)		-
Goodwill impairment charge		(42,307	)		-
Merger and other costs		(32,272	)		-
Expansion costs		(2,362	)		(882	)
Interest expense, net		(3,692	)		(664	)
Remeasurement of environmental liabilities		(3,688	)		(230	)
Consolidated loss before income taxes	$	(44,072	)	$	(3,290	)

The table below provides segment assets, which exclude cash and cash equivalents and short term investments, and a reconciliation to the consolidated total assets of the Company:

$ in thousands	December 31, 2021
Cryptocurrency Datacenter and Power Generation	$	228,222
Support Services		29,950
Total segment assets		258,172
Cash and cash equivalents		82,599
Short term investments		496
Total assets	$	341,267

All of the capital expenditures during 2021 related to the Cryptocurrency Datacenter and Power Generation segment.