CONCENTRATIONS

3 Months Ended

Mar. 31, 2025

Risks and Uncertainties [Abstract]

CONCENTRATIONS

CONCENTRATIONS

The Company has a single hosting customer that accounted for 30% and 47% of the Company’s revenue during the three months ended March 31, 2025 and 2024, respectively. The single hosting customer has the option to terminate the hosting agreement with 6 months' notice.

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 the Company’s pool operator customer accounted for approximately 22% and 36% of total revenue for the three months ended March 31, 2025 and 2024, respectively.

The Company has one major power customer, NYISO, that accounted for 48% and 16% of its revenue for the three months ended March 31, 2025 and 2024, respectively.

The Company has one natural gas vendor that accounted for approximately 56% and 45% of cost of revenue for the three months ended March 31, 2025 and 2024, respectively.

The Company previously had one major provider of hosting services for its self-mining operation that accounted for approximately 0% and 23% of cost of revenue for the three months ended March 31, 2025 and 2024, respectively. During the year ended December 31, 2024, the contract with the Company’s major provider of hosting services for its self-mining operation was terminated. As a result, the Company deployed the miners operated at the host’s site to sites they operate as part of its self-mining operations.