Greenidge Generation: A Grossly Undervalued Bitcoin Mining Company

Alexander Mizan
73 Followers

Summary

  • GREE is already generating free cash flow and has strong ownership characteristics.
  • GREE is a grossly undervalued, growing, and low-cost bitcoin miner on absolute terms as well as vis-a-vis its peers.
  • GREE is being mispriced by the market due to low volume overhang from the SPRT merger and mainly an upcoming Title V permit renewal by NY State for emissions.
  • We believe the permit renewal risk is overblown and the stock is mispriced at this level.
Cryptocurrency mining rigs in a data center

luza studios/E+ via Getty Images

Background of Greenidge Generation listing via merger with Support.com

Greenidge Generation (NASDAQ:GREE) has seen a relentless price decline in its stock price ever since it merged with old meme stock Support.com (SPRT). For those who are not familiar with what took

This article was written by

73 Followers
BA in Economics, International Business & Political Science. Specializing in Macroeconomics research and tax accounting.Equity, options, futures and FX trader. Long/Short. - Market can remain irrational longer than you can remain solvent

Analyst’s Disclosure:I/we have a beneficial long position in the shares of GREE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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