Greenidge Q4 Revenue Rises Even as the Number of Coins Mined Falls

Posted on by American Coins & Gold

Greenidge Q4 Revenue Rises Even as the Number of Coins Mined Falls
Bitcoin miner Greenidge Generation said fourth-quarter preliminary revenue rose 23% from the third-quarter even as the number of bitcoins produced fell 16%.Greenidge said in a statement that fourth-quarter revenue rose to about $44 million compared with the third-quarter’s $35.8 million.The Dresden, NY-based miner also said its hashrate climbed 17% to 1.4 exahash per second (EH/s) as of Dec. 31.While Greenidge mined about 609 bitcoins in the quarter, a drop of 16%, the price of bitcoin touched a record high near $69,000 during the period.Fourth-quarter adjusted earnings before interest, tax, depreciation and amortization is expected to be $18 million to $20…