GREE - What's Going On With Bitcoin-Related Stock Greenidge Generation? | Benzinga
Greenidge Generation Holdings Inc (NASDAQ:GREE) shares are trading flat at $3.25 Wednesday ahead of the company's fourth-quarter earnings report, confirmed for Wednesday's after-hours session.
According to analyst consensus estimates, Greenidge Generation is expected to report EPS of 20 cents on revenue of $26.7 million.
What Else?
Mining Bitcoin is an energy-intensive process that requires substantial infrastructure and operational expenses. Greenidge Generation incurs costs associated with electricity, equipment maintenance and operational overheads. Despite recent higher Bitcoin prices, operational costs may have risen in tandem, thereby limiting the extent to which increased revenues translate into improved profitability.
Additionally, the Bitcoin mining industry is highly competitive, with numerous players vying for market share. Increased competition can exert downward pressure on profit margins, particularly if other miners ramp up their operations ...