INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

8. INTANGIBLE ASSETS

The following is a summary of finite-lived intangible assets:

$ in thousands	Intangible Assets		Accumulated Amortization			Intangible Assets, Net
Balance December 31, 2020	$	-	$	-		$	-
Customer relationships (Note 3)		3,320		(244	)		3,076
Tradename (Note 3)		490		(29	)		461
Balance December 31, 2021	$	3,810	$	(273	)	$	3,537

As described in Notes 1 and 3, on September 14, 2021, Greenidge and Support.com combined their respective businesses through an all-stock merger transaction that was accounted for as a business combination in accordance with ASC 805. Prior to the Merger, Greenidge did not have any intangible assets. During the fourth quarter of 2021, the Company finalized its allocation of the purchase price which resulted in measurement period adjustments that reduced the preliminary value of intangible assets, which are reflected in the above table.

There are no expected residual values related to these intangible assets. The remaining weighted-average amortization period for intangible assets is approximately 3.8 years.

Total estimated annual amortization expense related to finite-lived intangibles is as follows:

$ in thousands	Amortization
2022	$	928
2023		928
2024		928
2025		684
Thereafter		69
Total	$	3,537

During the fourth quarter of 2021, the Company tested the recoverability of amortizable intangible assets and concluded that they were not impaired.