MERGER WITH SUPPORT (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Summary of The Estimated Value of The Consideration Paid

The following table summarizes the estimated value of the consideration paid (purchase price):

$ in thousands, except per share amount
Support common stock exchanged		25,745,487
Exchange ratio		0.115
Greenidge Class A common stock exchanged		2,960,731
Greenidge common stock value per share	$	31.71
Consideration paid	$	93,885

Summary of The Preliminary Allocation of The Purchase Price to The Identifiable Assets Acquired and Liabilities

The following table summarizes the allocation of the purchase price to the identifiable assets acquired and liabilities assumed by Greenidge, with the excess of the purchase price over the fair value of Support.com’s net assets recorded as goodwill. During the fourth quarter of 2021, the Company finalized its allocation of the purchase price which resulted in measurement period adjustments that increased the preliminary value of deferred tax assets and reduced the preliminary value of intangible assets, with an offsetting adjustment that reduced goodwill. These adjustments are reflected in the table below.

$ in thousands
Cash and cash equivalents	$	27,113
Short term investments		496
Accounts receivable		5,383
Prepaid expenses and other current assets		713
Property and equipment		1,349
Other long-term assets		383
Accounts payable		(117	)
Accrued expenses and other current liabilities		(3,535	)
Other long-term liabilities		(242	)
Intangible assets		3,810
Deferred tax assets		13,163
Goodwill		45,369
Total consideration	$	93,885

Summary of Identifiable Intangible Assets Determined on a Preliminary Basis

The following fair value estimates for identifiable intangible assets is based on assumptions that market participants would use in pricing an asset, based on the most advantageous market for the asset (i.e., its highest and best use).

$ in thousands
Identifiable Intangible Asset	Useful Life	Fair Value
Customer relationships	4 years	$	3,320
Tradename	5 years		490
Total identifiable intangible assets		$	3,810

Summary of Supplemental Pro Forma Financial Information

The unaudited pro forma financial information reflects certain adjustments related to the acquisition, such as:

•Conforming the accounting policies of Support.com to those applied by Greenidge;

•Recording certain incremental expenses resulting from purchase accounting adjustments, such as amortization expense in connection with fair value adjustments to intangible assets; and

•Recording the related tax effects of pro forma adjustments.

	For the Year Ended December 31,
$ in thousands	2021			2020
Revenues	$	132,114		$	63,978
Net loss	$	(50,474	)	$	(3,517	)