SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

. SEGMENT INFORMATION

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

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 sales 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 Company's Chief Operating Decision Maker to assess performance and allocate resources.

The table below presents information about reportable segments for the three months ended March 31, 2022 and 2021, respectively:

	Three Months Ended March 31,
$ in thousands	2022		2021
Revenues:
Cryptocurrency Datacenter and Power Generation	$	29,155	$	11,063
Support Services		8,500		-
Total Revenues	$	37,655	$	11,063
Segment Adjusted EBITDA
Cryptocurrency Datacenter and Power Generation	$	7,344	$	4,221
Support Services		1,869		-
Total Segments Adjusted EBITDA	$	9,213	$	4,221

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

	Three Months Ended March 31,
$ in thousands	2022			2021
Total Segments Adjusted EBITDA	$	9,213		$	4,221
Depreciation and amortization		(3,978	)		(1,261	)
Stock-based compensation		(362	)		(656	)
Merger and other costs		(213	)		(105	)
Expansion costs		(2,104	)		-
Interest expense, net		(3,353	)		(188	)
Consolidated (loss) income before income taxes	$	(797	)	$	2,011