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Vulcan Infrastructure & Power Inc.

We are a developer and operator of datacenters and powered assets designed to support energy-intensive computing workloads.4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

$58.8MRevenue, fiscal 20252
$5.3MNet income, fiscal 20252

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  • TickerVIP on Nasdaq1
  • IndustryFinance Services1
  • HeadquartersPittsford, New York1
  • Incorporated inDE3
  • Business address1159 Pittsford-Victor Road, Suite 240, Pittsford, Ny 145343
  • Filer category, Emerging growth company3
  • Legal formCorporation

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We are a developer and operator of datacenters and powered assets designed to support energy-intensive computing workloads. We currently build, maintain and operate datacenters focused on bitcoin mining, along with related power and electric infrastructure. We generate revenue from (1) datacenter hosting, (2) cryptocurrency self-mining, and (3) power and capacity sales. We are increasingly focused on leveraging our power generation assets, grid interconnection rights and datacenter development expertise to support artificial intelligence (“AI ” ) and high-performance computing (“HPC ” ) workloads, which we believe represent a significant long-term growth opportunity.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-6.5%Operating margin2
9.0%Net margin2
-1.3%Revenue growth, 20252

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin21¢$12.5M
  • Other costs69¢$40.5M
  • Income tax1¢$479.0K
  • Profit9¢$5.3M

Out of $58.8M in revenue.2

Financial statements

Revenue56782$58.8M in 2025+192% since 2020
0$25.0M$50.0M$75.0M$100.0M2020: $20.1M$20.1M20202021: $97.3M$97.3M2021+384%2022: $90.0M$90.0M2022−8%2023: $70.4M$70.4M2023−22%2024: $59.5M$59.5M2024−15%2025: $58.8M$58.8M2025−1%
Operating income56782-$3.8M in 2025+44% since 2020
-$300.0M-$200.0M-$100.0M0$100.0M2020: -$2.6M-$2.6M20202021: $32.8M$32.8M20212022: -$233.2M-$233.2M20222023: -$16.9M-$16.9M2023−93%2024: -$11.4M-$11.4M2024−32%2025: -$3.8M-$3.8M2025−67%
Net income5782$5.3M in 2025
-$300.0M-$200.0M-$100.0M0$100.0M2020: -$3.3M-$3.3M20202021: -$44.5M-$44.5M2021+1252%2022: -$271.1M-$271.1M2022+509%2023: -$29.5M-$29.5M2023−89%2024: -$19.8M-$19.8M2024−33%2025: $5.3M$5.3M2025
Fiscal year2019202020212022202320242025
Revenue$20.1M5$97.3M6$90.0M7$70.4M8$59.5M2$58.8M2
Selling, general and admin$5.6M5$24.0M6$35.2M7$26.2M8$17.3M2$12.5M2
Operating income-$2.6M5$32.8M6-$233.2M7-$16.9M8-$11.4M2-$3.8M2
Interest$600.0K5$3.7M6$21.6M7$12.7M7
Income before tax$29.5M6-$254.7M7-$29.0M8-$19.9M2$4.8M2
Income tax$05$7.9M6$15.0M7$08-$69.0K2-$479.0K2
Net income-$3.3M5-$44.5M5-$271.1M7-$29.5M8-$19.8M2$5.3M2
Earnings per share-$1.416-$63.977-$4.438-$1.882$0.352
Earnings per share (diluted)-$1.236-$63.977-$4.438-$1.882$0.342
Shares (weighted, basic)32.0M shares64.2M shares76.7M shares810.5M shares215.2M shares2
Shares (weighted, diluted)36.6M shares64.2M shares76.7M shares810.5M shares215.3M shares2

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Leadership

Who has led Vulcan Infrastructure & Power Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jeffrey E. Kirt2021
  2. Jordan Kovler2023–now

President

  1. Dale Irwin2021–now

Chief financial officer

  1. Timothy Rainey2021
  2. Robert Loughran2023
  3. Christian Mulvihill2023–now
2025
Board members and other officers (17)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerScott MacKenzie named Feb 23, 202434
  • DirectorDavid Anderson named Feb 23, 202434
  • DirectorTimothy Lowe named Feb 23, 202434

Former names

  • Greenidge Generation Holdings Inc.Feb 10, 2021 to Jul 9, 20263

Timeline

  1. Nov 20, 2023New chief executive Jordan Kovler becomes CEO13
  2. Sep 13, 2021New chief executive Jeffrey E. Kirt becomes CEO14

Filings

390 filings to the SEC since October 2021: 8 annual reports, 15 quarterly reports, 114 major events, 102 insider forms, 11 large holders, 2 private raises, 138 other. The latest 20:

  1. Oct 13, 20268-K EDGAR
  2. Oct 13, 202625-NSE EDGAR
  3. Oct 9, 20264 EDGAR
  4. Oct 5, 20268-K EDGAR
  5. Sep 29, 20268-K EDGAR
  6. Sep 24, 2026D EDGAR
  7. Sep 21, 20264/A EDGAR
  8. Sep 17, 2026SCHEDULE 13D EDGAR
  9. Sep 16, 2026SCHEDULE 13D EDGAR
  10. Sep 14, 20264 EDGAR
  11. Sep 14, 20264 EDGAR
  12. Sep 14, 20264 EDGAR
  13. Sep 14, 20263 EDGAR
  14. Sep 14, 20263 EDGAR
  15. Sep 14, 20263 EDGAR
  16. Sep 14, 20264 EDGAR
  17. Sep 14, 20264 EDGAR
  18. Sep 14, 20264 EDGAR
  19. Sep 14, 2026SCHEDULE 13D/A EDGAR
  20. Sep 14, 20264 EDGAR

The 390 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

53 open-market trades by officers, directors and large owners since October 2021: 20 buys and 33 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 10, 2026Kovler JordanChief Executive OfficerBuy58,479$1.71$100.0KForm 4
Sep 10, 2026Mulvihill ChristianChief Financial OfficerBuy58,479$1.71$100.0KForm 4
Sep 10, 2026Irwin DalePresidentBuy58,479$1.71$100.0KForm 4
Sep 10, 2026Rogers George Ted IIIDirectorBuy2,923,976$1.71$5.0MForm 4
Jul 24, 2026Irwin DalePresidentSale21,154$2.45$51.8KForm 4
Jul 24, 2026Kovler JordanChief Executive OfficerSale35,721$2.45$87.5KForm 4
Jul 24, 2026Mulvihill ChristianChief Financial OfficerSale14,738$2.45$36.1KForm 4
Feb 2, 2026Mulvihill ChristianChief Financial OfficerSale1,958$1.28$2.5KForm 4
Feb 2, 2026Irwin DalePresidentSale1,985$1.28$2.5KForm 4
Oct 13, 2025Mulvihill ChristianChief Financial OfficerSale609$2.07$1.3KForm 4
Sep 16, 2025Mulvihill ChristianChief Financial OfficerSale627$1.46$915Form 4
Aug 13, 2025Mulvihill ChristianChief Financial OfficerSale615$1.36$836Form 4
Aug 4, 2025Mulvihill ChristianChief Financial OfficerSale1,696$1.50$2.5KForm 4
Aug 4, 2025Irwin DalePresidentSale1,727$1.50$2.6KForm 4
Jul 14, 2025Mulvihill ChristianChief Financial OfficerSale611$1.88$1.1KForm 4
Jun 13, 2025Mulvihill ChristianChief Financial OfficerSale627$1.45$909Form 4
May 23, 2025Kovler JordanChief Executive OfficerBuy5,000$1.56$7.8KForm 4
May 21, 2025Kovler JordanChief Executive OfficerSale3,133$1.30$4.1KForm 4
May 21, 2025Mulvihill ChristianChief Financial OfficerSale4,596$1.30$6.0KForm 4
May 21, 2025Irwin DalePresidentSale4,681$1.30$6.1KForm 4

All 53 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 10, 2026Raised $39.3 million in a private offering of securities Form D: 14 investors so far Form D
  2. Feb 12, 2024Raised $6 million in a private offering of equity Form D: $12.6 million offered in all Form D

Sources

The numbers on this page point here. Each one links to the record it came from.

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