CONCENTRATIONS

9 Months Ended

Sep. 30, 2023

Risks and Uncertainties [Abstract]

CONCENTRATIONS

CONCENTRATIONS

The Company has a single hosting customer that accounted for 58% and 57% of the company's revenue during the three and nine months ended September 30, 2023, respectively. There was no datacenter hosting revenue during the three and nine months ended September 30, 2022.

For the Company's self-mining operations, Greenidge considers its mining pool operators to be its customers. Greenidge has historically used a limited number of pool operators that have operated under contracts with a one-day term, which allows Greenidge the option to change pool operators at any time. Revenue from one of the Company’s pool operator customers accounted for approximately 32% and 81% of total revenue for the three months ended September 30, 2023 and 2022, respectively, and 31% and 75% for the nine months ended September 30, 2023 and 2022, respectively.

The Company has one major power customer, NYISO, that accounted for 10% and 17% of its revenue for the three months ended September 30, 2023 and 2022, respectively , and 10% and 17% for the nine months ended September 30, 2023 and 2022, respectively.

The Company has one natural gas vendor that accounted for approximately 19% and 51% of cost of revenue for the three months ended September 30, 2023 and 2022, respectively, and 26% and 37% for the nine months ended September 30, 2023 and 2022, respectively.

The Company has one major provider of hosting services for its self-mining operation that accounted for approximately 24% and 15% of cost of revenue for the three and nine months ended September 30, 2023, respectively. There was no hosting services for the self-mining operation during the three and nine months ended September 30, 2022.