Greenidge Generation Holdings Inc (GREE)

Greenidge Generation Reports First Quarter 2026 Results and Advances AI/HPC Infrastructure ExpansionMay 18, 2026 8:00 AM
ACCESS NewswirePower and Capacity Revenue More than Doubles Year-Over-Year to $18.7 MillionReceipt of Proposed NYSEG Interconnection Agreement Expected to Advance 60MW Dresden AI/HPC Datacenter Development250MW Load Study Initiated at Mississippi Site, Supplementing 40MW Planned for Energization in Q1 2027Continued Debt Reduction and Strategic Asset Monetization Strengthen Balance Sheet and Support Long-Term GrowthPITTSFORD, NY / ACCESS Newswire / May 18, 2026 / Greenidge Generation Holdings Inc. (Nasdaq:GREE) ("Greenidge" or the "Company"), a vertically integrated power generation company focused on datacenters and infrastructure development, announced financial and operating results for the first quarter ended March 31, 2026 and provided an update on the Company's growth prospects.Recent Highlights:Received a proposed Interconnection Agreement from NYSEG for the previously announced 60MW of non-curtailable power at the Dresden facility, which, if entered into, is expected to advance the Company's AI/HPC datacenter development plans;Submitted a request to the Tennessee Valley Authority for 250MW of additional power at the Company's Mississippi greenfield site, which would supplement the 40MW load that the Company anticipates being energized in Q1 2027;Engaged advisors to assist with marketing and development of the Company's Dresden and Mississippi properties in support of the Company's AI/HPC infrastructure strategy, including detailed site plan designs;Continued discussions with multiple parties regarding potential joint ventures, strategic partnerships and other potential transactions involving the Mississippi site, including a possible sale thereof;Signed agreement in April to sell a non-core asset in Mississippi for $1.08 million; andHeld 98 Bitcoin valued at $6.7 million as of March 31, 2026.First Quarter 2026 Financial Results:Total revenue of $20.8 million, an improvement of $1.6 million from Q1 2025;Power and capacity revenue of $18.7 million, an improvement of $9.5 million from Q1 2025;Net loss of $4.6 million, an improvement of $1.0 million from Q1 2025;EBITDA loss of $1.8 million, a reduction of $2.2 million from Q1 2025;Adjusted EBITDA loss of $1.0 million, a reduction of $1.9 million from Q1 2025;Net cash flow used for operating activities of $11.4 million, an increase of $5.7 million from Q1 2025;Adjusted Free Cash Flow loss of $9.8 million, a decrease of $7.4 million from Q1 2025;Cryptocurrency mining revenue of $1.8 million, a reduction of $2.4 million from Q1 2025;Datacenter hosting revenue of $0.4 million, a reduction of $5.4 million from Q1 2025; andA total of 28 Bitcoin produced, a decrease of 84 from Q1 2025.Greenidge currently operates 111.5MW of active self-mining, hosting and power generation across its sites in New York and North Dakota. The Company's active datacenter operations deliver approximately 2.7 EH/s of combined datacenter hosting and cryptocurrency mining capacity, of which 1.7 E/Hs is attributable to datacenter hosting and 1.0 E/Hs is attributable to cryptocurrency mining.Greenidge ended the first quarter with $7.1 million of cash, $6.7 million of bitcoin, and $38.9 million in aggregate principal amount of senior unsecured debt due October 2026 and June 2030.1Greenidge CEO Jordan Kovler commented, "During the first quarter, we made important progress in executing our strategy to reposition the Company around power infrastructure and AI/HPC datacenter development. The receipt of the proposed NYSEG Interconnection Agreement for 60MW of non-curtailable power at our Dresden facility is a meaningful milestone, and our 250MW load study request in Mississippi further expands the long-term opportunity across our portfolio. Together, these developments reflect the value of our owned power assets and our ability to support the growing demand for reliable capacity."Kovler continued, "We also continued to improve the Company's financial position by reducing near-term senior unsecured debt and advancing additional asset monetization opportunities. With power and capacity revenue more than doubling year-over-year, a clearer regulatory path at our Dresden facility, and ongoing discussions with potential strategic partnerships, joint ventures or monetization opportunities related to the Mississippi site, we believe Greenidge is better positioned to convert its energy footprint into long-term shareholder value."About Greenidge Generation Holdings Inc.Greenidge Generation Holdings Inc. (Nasdaq:GREE) is a vertically integrated power generation company, focusing on datacenters, electrical and infrastructure development, engineering, procurement, construction management, operations and site maintenance.Forward-Looking StatementsThis press release includes certain statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect Greenidge's financial or operating results. These forward-looking statements may be identified by terms such as "anticipate," "believe," "continue," "foresee," "expect," "intend," "plan," "may," "will," "would," "could," and "should," and the negative of these terms or other similar expressions. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Forward-looking statements in this press release include, among other things, statements regarding the AI/HPC transition, the Dresden interconnection expansion, including, without limitation, the entry into a definitive interconnection agreement with NYSEG, potential transactions involving the Mississippi greenfield site, gaining additional power access, debt reduction efforts, and the business plan, business strategy and operations of Greenidge in the future. In addition, all statements that address operating performance and future performance, events or developments that are expected or anticipated to occur in the future are forward-looking statements. Forward-looking statements are subject to a number of risks, uncertainties and assumptions. Matters and factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include but are not limited to the matters and factors described in Part I, Item 1A. "Risk Factors" of Greenidge's Annual Report on Form 10-K for the year ended December 31, 2025, as may be amended from time to time, its subsequently filed Quarterly Reports on Form 10-Q and its other filings with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this press release are qualified by the information contained under this caption. No assurance can be given that these are all of the factors that could cause actual results to vary materially from the forward-looking statements in this press release. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance, or achievements of Greenidge could differ materially from the results expressed in, or implied by, any forward-looking statements. All forward-looking statements speak only as of the date of this press release and, unless otherwise required by U.S. federal securities laws, Greenidge does not assume any duty to update or revise any forward-looking statements included in this press release, whether as a result of new information, the occurrence of future events, uncertainties or otherwise, after the date of this press release.Use of Non-GAAP InformationTo provide investors and others with additional information regarding Greenidge's financial results, Greenidge has disclosed in this press release the non-GAAP operating performance measures of EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt. Management believes that the use of EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company's financial measures with those of comparable companies, which may present similar non-GAAP financial measures to investors. "EBITDA" is defined as earnings before interest, taxes, depreciation and amortization. "Adjusted EBITDA" is defined as earnings before interest, taxes, depreciation and amortization, which is then adjusted for stock-based compensation and other special items determined by management, including, but not limited to, gains or losses from the sales of assets, troubled debt restructuring, insurance proceeds and liquidation of subsidiaries. "Adjusted Free Cash Flow" is defined as net cash flow provided by (used for) operating activities less purchases of and deposits for property and equipment, which is then adjusted to add revenue from digital assets production and remove proceeds from the sale of digital assets already included in operating activities. Digital assets (i.e., bitcoin) generated from mining are treated as an adjustment to reconcile net income (loss) to cash used in operating activities in the GAAP financial statements. This Adjusted Free Cash Flow measure approximates the Company's cash flow as if such digital assets, which are highly liquid, continued to be liquidated at the time of receipt, and presented within operating activities, instead of being presented within investing activities as a result of the Company's bitcoin retention strategy. Adjusted Free Cash Flow is not intended to be a measure of residual cash available for management's discretionary use since it omits significant sources and uses of cash flow, including, without limitation, mandatory debt repayments and realized and unrealized gains (losses) on digital assets. The most directly comparable GAAP financial measure to Total Debt and Net Debt is total long-term debt (including the current portion), which is reported at amortized cost on the Company's consolidated balance sheet in accordance with U.S. GAAP (ASC 470-60). "Total Debt" differs from the GAAP measure of total long-term debt as it represents the aggregate outstanding principal indebtedness under the Company's 8.50% Senior Notes due 2026 and 10.00% Senior Notes due 2030, excluding adjustments for unamortized discounts, premiums, and issuance costs that are netted against the principal under GAAP to arrive at the carrying value. "Net Debt" is defined as Total Debt less cash and cash equivalents (including restricted cash) and digital assets. The Company's computation of these non-GAAP financial measures may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate these non-GAAP financial measures in the same fashion. For example, Greenidge's presentation of Total Debt and Net Debt may be different from similar non-GAAP financial measures presented by other companies given the inclusion of the fair market value of digital assets in the calculation of Net Debt. These non-GAAP financial measures are a supplement to and not a substitute for or superior to, Greenidge's results presented in accordance with U.S. GAAP. The non-GAAP financial measures presented by Greenidge may be different from non-GAAP financial measures presented by other companies. Specifically, Greenidge believes the non-GAAP information provides useful measures to investors regarding Greenidge's financial performance by excluding certain costs and expenses that Greenidge believes are not indicative of its core operating results. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP. Because of these limitations, EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. Greenidge compensates for these limitations by relying primarily on its GAAP results and using EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt on a supplemental basis. You should review the reconciliation of net loss (income) to EBITDA (loss) and Adjusted EBITDA, net cash flow provided by (used for) operating activities to Adjusted Free Cash Flow, and the Company's senior unsecured indebtedness to Total Debt and Net Debt, and not rely on any single financial measure to evaluate the Company's business.Amounts denoted in millions Three Months Ended
March 31, 2026 March 31, 2025 Net loss $(4.6) $(5.6)Interest expense, net 0.2 2.9
Benefit from income taxes - (0.0)Depreciation 2.6 3.1 EBITDA (1.8) 0.4 Stock based compensation 0.7 0.5 Loss on liquidation of subsidiary - 0.3 Gain on insurance proceeds - (0.4)Loss on sale of assets 0.1 0.1 Gain on settlement of related party liability (0.0) - Adjusted EBITDA $(1.0) $0.9 Amount denoted in millions Three Months Ended
March 31, 2026 March 31, 2025 Net cash flow used for operations $(11.4) $(5.7)Revenues from digital asset production 1.8 4.2 Purchases of and deposits for property and equipment (0.2) (0.9)Adjusted free cash flow $(9.8) $(2.4) Amounts denoted in millions March 31, 2026 Q2 2026 Exchange Offer (Preliminary) Pro FormaMarch 31, 2026(Preliminary) 8.50% Senior Notes due 2026 $36.7 $(1.4)[a] $35.3 10.0% Senior Notes due 2030 $2.3 $1.5[a] $3.8 Total Debt $39.0 $0.1 $39.1 Less: Cash and cash equivalents, including restricted cash $(7.1) $(7.1)Less: Digital Assets $(6.7) $(6.7)Net Debt $25.2 $25.3 [a] Represents debt restructuring activity in Q2 2026 through a public exchange offer.1 Excludes capitalized contractual interest payments as of March 31, 2026 for the Company's senior unsecured debt due October 2026 and June 2030. See Note 5, "Debt," in the Notes to the Company's Unaudited Condensed Consolidated Financial Statements.Investor Contact
FNK IR
Rob Fink or Joey Delahoussaye

Greenidge Generation Announces Expiration and Final Results of Exchange Offer for Senior Notes Due 2026April 9, 2026 4:30 PM
Business Wire
Greenidge Generation Holdings Inc. (Nasdaq: GREE) (“Greenidge” or the “Company”), a vertically integrated power generation company focused on datacenters and infrastructure development, today announced final results of its previously announced offer to exchange (the “Exchange Offer” or the “Offer”) its outstanding 8.50% Senior Notes due 2026 (the “Old Notes”), as set forth in the Offer to Exchange, dated as of March 11, 2026 (as amended, the “Offer to Exchange”), which trade on the Nasdaq Global Select Market under the symbol “GREEL.” The Exchange Offer expired at 5:00 p.m., New York City time, on April 8, 2026 (the “Expiration Date”). Capitalized terms used herein and otherwise undefined have the meaning ascribed to them in the Offer to Exchange.


According to the information provided to Greenidge by Computershare Trust Company, N.A., the exchange agent in connection with the Offer, the following aggregate principal amount of the Old Notes set forth in the table below was validly tendered and not properly withdrawn (the “Exchanged Notes”) as of the Expiration Date for a new series of 10.00% Senior Notes due 2030 (the “New Notes”), in an amount equal to $25.00 principal amount of New Notes and two (2) shares of the Company’s Class A Common Stock, $0.0001 par value per share (“Class A Common Stock”), for each $25.00 principal amount of Old Notes exchanged, plus accrued and unpaid interest up to, but not including, the settlement date:




Title of Security






CUSIP Number






Principal Amount Outstanding






Aggregate Principal Amount Validly Tendered and Not Properly Withdrawn as of the Withdrawal Date




 






Aggregate Principal Amount of Exchanged Notes Accepted Pursuant to Exchange Offer






Principal Amount Outstanding




Following Final Settlement of Exchange Offer








8.50% Senior Notes Due 2026






39531G209






$36,663,875






$1,436,125






$1,436,125






$35,227,750







The Exchange Offer was made pursuant to the terms and subject to the satisfaction or waiver of certain conditions set forth in the Offer to Exchange. As of the Expiration Date, all conditions to the Exchange Offer were satisfied or waived. Upon settlement of the Exchange Offer, which is currently expected to occur on April 10, 2026, subject to the acceptance procedures described in the Offer to Exchange, holders of Exchanged Notes will receive an aggregate principal amount of New Notes in an amount equal to $25.00 and two (2) shares of Class A Common Stock for each $25.00 principal amount of Exchanged Notes accepted, plus a cash payment in lieu of any fractional New Notes otherwise issuable in respect of principal and accrued and unpaid interest or any combination thereof. Accordingly, on the settlement date, Greenidge expects to issue approximately $1,459,689 in aggregate principal amount of New Notes and 114,890 shares of Class A Common Stock.


As previously disclosed, Greenidge sought to list the New Notes for trading on the OTC Markets platform and submitted an application to the Financial Industry Regulatory Authority (“FINRA”) for such purpose. FINRA subsequently denied the Company’s symbol request based on considerations relating to trade reporting and market structure applicable to the New Notes. The Company continues to evaluate alternative pathways to facilitate trading of the New Notes. As previously disclosed in the Offer to Exchange, however, Greenidge cannot provide any assurance that the New Notes will be tradable, that an active trading market will develop, or that holders will be able to sell their New Notes. If the New Notes are traded after their initial issuance, they may trade at a discount from their initial offering price depending on prevailing interest rates, the market for similar securities, the Company’s credit ratings, general economic conditions, the Company’s financial condition, performance and prospects and other factors. Accordingly, Greenidge cannot make any assurances that a liquid trading market for the New Notes will be sustained, that holders will be able to sell their New Notes at a particular time or that the price holders receive when they sell will be favorable. To the extent an active trading market is not sustained, the liquidity and trading price for the New Notes may be harmed. Accordingly, holders may be required to bear the financial risk of an investment in the New Notes for an indefinite period of time.


About Greenidge Generation Holdings Inc.

Greenidge Generation Holdings Inc. (Nasdaq: GREE) is a vertically integrated power generation company, focusing on datacenters, electrical and infrastructure development, engineering, procurement, construction management, operations and site maintenance.


Forward-Looking Statements

This press release includes certain statements that may constitute “forward-looking statements.” All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect the Company’s financial or operating results. These forward-looking statements may be identified by terms such as “anticipate,” “believe,” “continue,” “foresee,” “expect,” “intend,” “plan,” “may,” “will,” “would,” “could,” and “should,” and the negative of these terms or other similar expressions. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Forward-looking statements in this press release include, among other things, the business plan, business strategy and operations of the Company in the future. In addition, all statements that address operating performance and future performance, events or developments that are expected or anticipated to occur in the future are forward looking statements. Forward-looking statements are subject to a number of risks, uncertainties and assumptions. Matters and factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include but are not limited to the matters and factors described under the heading “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as may be amended from time to time, its subsequently filed Quarterly Reports on Form 10-Q and its other filings with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this press release are qualified by the information contained under this caption. No assurance can be given that these are all of the factors that could cause actual results to vary materially from the forward-looking statements in this press release. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance, or achievements of the Company could differ materially from the results expressed in, or implied by, any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260409293367/en/
Investors

investorrelations@greenidge.com
Media

Longacre Square Partners

Kate Sylvester / Kendall Heebink

greenidge@longacresquare.com


Original: Greenidge Generation Announces Expiration and Final Results of Exchange Offer for Senior Notes Due 2026

Greenidge Generation Announces Amendments to and Preliminary Results of Exchange OfferMarch 25, 2026 5:30 PM
Business Wire
Greenidge Generation Holdings Inc. (Nasdaq: GREE) (“Greenidge” or the “Company”), a vertically integrated power generation company focused on datacenters and infrastructure development, today announced that it has amended the terms of its previously announced offer to exchange (the “Exchange Offer”) its outstanding 8.50% Senior Notes due 2026 (the “Old Notes”), which trade on the Nasdaq Global Select Market under the symbol “GREEL”.


The Company is hereby amending the Offer to Exchange, dated March 11, 2026 (the “Offer to Exchange”) and related documents, to (i) revise the consideration so that all holders that validly tender their Old Notes for exchange in the Exchange Offer will receive $25.00 principal amount of New Notes and two (2) shares of the Company’s Class A Common Stock, $0.0001 par value per share for each $25.00 principal amount of Old Notes exchanged, (ii) remove the concepts of Early Tender Premium and Early Tender Date, and (iii) waive the closing condition that at least $11.0 million in principal amount of Old Notes be validly tendered for exchange in the Exchange Offer.


Holders of Old Notes that validly tendered and did not withdraw their Old Notes as of 5:00 p.m., New York City time, on March 25, 2026 (the “Withdrawal Date”) do not need to take any further action to receive the consideration in the Exchange Offer.


According to the information provided to Greenidge by Computershare Trust Company, N.A., the exchange agent in connection with the Exchange Offer, the following aggregate principal amount of the Old Notes set forth in the table below was validly tendered and not properly withdrawn as of the Withdrawal Date:




Title of Security






CUSIP Number






Principal Amount Outstanding






Aggregate Principal Amount Validly Tendered and Not Properly Withdrawn as of the Withdrawal Date








8.50% Senior Notes Due 2026






39531G209






$36,663,875






$1,334,025







Information Relating to the Exchange Offer


The complete terms and conditions of the Exchange Offer, as amended by this press release, are set forth in the Offer to Exchange, which sets forth a detailed description of the Exchange Offer. Greenidge refers investors to the Offer to Exchange, as amended by this press release, for the complete terms and conditions of the Exchange Offer. Investors with questions regarding the terms and conditions of the Exchange Offer may contact our information agent as follows:


D.F. KING & CO., INC.

Banks and Brokers call: (212) 596-7578

Toll free: (800) 347-4826

Email: GREE@dfking.com


About Greenidge Generation Holdings Inc.


Greenidge Generation Holdings Inc. (Nasdaq: GREE) is a vertically integrated power generation company, focusing on datacenters, electrical and infrastructure development, engineering, procurement, construction management, operations and site maintenance.


Forward-Looking Statements


This press release includes certain statements that may constitute “forward-looking statements.” All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect the Company’s financial or operating results. These forward-looking statements may be identified by terms such as “anticipate,” “believe,” “continue,” “foresee,” “expect,” “intend,” “plan,” “may,” “will,” “would,” “could,” and “should,” and the negative of these terms or other similar expressions. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Forward-looking statements in this press release include, among other things, the business plan, business strategy and operations of the Company in the future. In addition, all statements that address operating performance and future performance, events or developments that are expected or anticipated to occur in the future are forward looking statements. Forward-looking statements are subject to a number of risks, uncertainties and assumptions. Matters and factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include but are not limited to the matters and factors described under the heading “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as may be amended from time to time, its subsequently filed Quarterly Reports on Form 10-Q and its other filings with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this press release are qualified by the information contained under this caption. No assurance can be given that these are all of the factors that could cause actual results to vary materially from the forward-looking statements in this press release. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance, or achievements of the Company could differ materially from the results expressed in, or implied by, any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260325602072/en/
Investors

investorrelations@greenidge.com


Media

Longacre Square Partners

Kate Sylvester / Kendall Heebink

greenidge@longacresquare.com


Original: Greenidge Generation Announces Amendments to and Preliminary Results of Exchange Offer

Greenidge Generation Reports Preliminary Financial and Operating Results for the Fourth Quarter and Full Year 2025March 5, 2026 4:30 PM
Business Wire
Significant Progress in Debt Reduction, Liability Management, and Power Capacity Expansion Supports Transition to AI/HPC Datacenters


Agreement with New York State for Renewal of Title V Air Permit for Dresden Facility Provides Regulatory Clarity


Dresden Facility Positions Greenidge as a Model for Responsible Datacenter and Power Generation Operations


Greenidge Generation Holdings Inc. (Nasdaq: GREE) (“Greenidge” or the “Company”), a vertically integrated power generation company focused on datacenters and infrastructure development, announced preliminary financial and operating results for the fourth quarter and fiscal year ended December 31, 2025 and provided an update on the Company’s growth prospects.


Recent Fourth Quarter 2025 Highlights:



Secured approval for a total of 100MW of future power for datacenters, including:


60MW of non-curtailable power at the Dresden facility via grid interconnection, for which the Company is engaging with NYSEG on related facility upgrades and actively exploring options for AI/HPC datacenter development; and



40MW of non-curtailable power available at a 34-acre greenfield site in Mississippi by Q1 2027, for which the Company is actively exploring options for AI/HPC datacenter development.






Initiated NYISO system impact study to access additional 200MW of power at the Dresden facility via grid interconnection;



Successfully closed on the sale of the South Carolina property for $18.0 million in cash and up to $18.0 million in potential future earnouts; and



Held 74 Bitcoin valued at $6.5 million as of December 31, 2025.



Fourth Quarter 2025 Preliminary Financial Results:



Total revenue of $11.5 million, a reduction of $3.7 million from Q3 2025;



Net income of $1.9 to $2.9 million, a reduction of $10.1 to $9.1 million from Q3 2025;



EBITDA of $4.5 to $5.5 million, a reduction of $10.5 to $9.5 million from Q3 2025;



Adjusted EBITDA loss of $6.2 to $5.2 million, a reduction of $7.9 to $6.9 million from Q3 2025;



Net cash flow used for operating activities of $4.6 million, a reduction of $4.7 million from Q3 2025;



Adjusted Free Cash Flow loss of $2.0 million, a reduction of $6.3 million from Q3 2025;



Cryptocurrency mining revenue of $2.6 million, a reduction of $1.6 million from Q3 2025;



Datacenter hosting revenue of $3.3 million, a reduction of $3.0 million from Q3 2025;



Power and capacity revenue of $5.6 million, an improvement of $0.8 million from Q3 2025; and



A total of 53 Bitcoins produced, a decrease of 42 from Q3 2025.



Additional 2025 Highlights:



Reduced outstanding principal amount of senior unsecured debt due October 2026 from $68.5 million as of FY 2024 to $36.7 million through a combination of public tender/exchange offers, privately negotiated exchange agreements and open market repurchases;



Completed the sale of its 7.5MW Mississippi bitcoin mining facility and lower-efficiency miners for $4.2 million in cash;



Secured agreement with the New York State Department of Environmental Conservation (“NYSDEC”) which states unequivocally that NYSDEC shall issue a final five-year Title V Air Permit modification and renewal for the Company’s Dresden facility following a public comment period and fulfillment of applicable state regulations, and that the new emissions level incorporated therein are fully consistent with New York’s Climate Leadership Community Protection Act. This will ensure that the Company’s Dresden facility, which provides significant power to the local energy grid each year, will continue to do so while also serving as a model datacenter operation; and



Completed initial chemical composition testing on coal combustion residuals in C-Pond to support beneficial use demonstration and extend the deadline to initiate closure to October 2027 while seeking regulatory approval to complete similar testing at the Lockwood Landfill during Q2 2026.



Full Year 2025 Preliminary Financial Results:



Total revenue of $58.8 million, a reduction of $0.8 million from FY 2024;



Net income of $4.2 to $5.2 million, an improvement of $24.0 to $25.0 million from FY 2024;



EBITDA of $19.9 to $20.9 million, an improvement of $19.2 to $20.2 million from FY 2024;



Adjusted EBITDA loss of $3.1 to $2.1 million, a reduction of $8.6 to $7.6 million from FY 2024;



Net cash flow used for operating activities of $15.0 million, a reduction of $3.0 million from FY 2024;



Adjusted Free Cash Flow loss of $2.3 million, an improvement of $12.1 million from FY 2024;



Cryptocurrency mining revenue of $15.2 million, a reduction of $3.8 million from FY 2024;



Datacenter hosting revenue of $21.5 million, a reduction of $8.4 million from FY 2024;



Power and capacity revenue of $22.2 million, an improvement of $11.4 million from FY 2024;



A total of 371 Bitcoins produced, a decrease of 570 from FY 2024; and



SG&A expenses of $12.1 million, a reduction of $5.2 million from FY 2024.



Greenidge currently operates 111.5MW of active self-mining, hosting and power generation across its sites in New York and North Dakota. The Company’s active datacenter operations deliver approximately 2.8 EH/s of combined datacenter hosting and cryptocurrency mining capacity, of which 1.8 E/Hs is attributable to datacenter hosting and 1.0 E/Hs is attributable to our cryptocurrency mining.


Greenidge ended the fourth quarter with $19.6 million of cash, $6.5 million of bitcoin and $39.0 million in aggregate principal amount of senior unsecured debt due October 2026 and June 2030.1


Greenidge CEO Jordan Kovler commented: “Our team’s exceptional focus and execution over the past two and a half years have helped set the stage for Greenidge to realize its significant growth potential and facilitate an effective transition from Bitcoin mining to AI/HPC. Notably, 2025 culminated in Greenidge securing a historic agreement with NYSDEC on a five-year Title V Air Permit that strengthens our path to sustained growth and profitability and ends all litigation and administrative appeals between the Company and New York. Our Dresden facility serves as a model for responsible datacenter operations by utilizing on-site power generation. By agreeing to reduce carbon emissions, actively exploring opportunities to remediate the environmental impacts of prior owners and pairing behind-the-meter use with on-site generation and flexible load management, Greenidge serves the twin goals of promoting affordable electrical service for the residents of New York while benefiting the local community and contributing to our nation’s leadership position in AI development.”


Kovler continued, “We have reduced our debt from over $157.5 million in 2023 to $39.0 million as of December 31, 2025, while reducing our SG&A expenses from $26.1 million in 2023 to $12.1 million in 2025. The meaningful progress made toward securing and developing powered land has led to the sale of two sites and lower-efficiency miners in 2025 for over $22.2 million, with the potential to receive up to an additional $18 million. We also gained future access to 100MW of additional power in 2025, nearly doubling our current capacity. We will continue efforts to further restructure our senior unsecured debt due October 2026 and position the Company to utilize its energy footprint for actionable growth opportunities that maximize value for all Greenidge stakeholders.”


About Greenidge Generation Holdings Inc.


Greenidge Generation Holdings Inc. (Nasdaq: GREE) is a vertically integrated power generation company, focusing on datacenters, electrical and infrastructure development, engineering, procurement, construction management, operations and site maintenance.


Forward-Looking Statements


This press release includes certain statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect Greenidge’s financial or operating results. These forward-looking statements may be identified by terms such as “anticipate,” “believe,” “continue,” “foresee,” “expect,” “intend,” “plan,” “may,” “will,” “would,” “could,” and “should,” and the negative of these terms or other similar expressions. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Forward-looking statements in this press release include, among other things, statements regarding the receipt of a final Title V Air Permit, gaining additional power access and the business plan, business strategy and operations of Greenidge in the future. In addition, all statements that address operating performance and future performance, events or developments that are expected or anticipated to occur in the future are forward looking statements. Forward-looking statements are subject to a number of risks, uncertainties and assumptions. Matters and factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include but are not limited to the matters and factors described in Part I, Item 1A. “Risk Factors” of Greenidge’s Annual Report on Form 10-K for the year ended December 31, 2024, as may be amended from time to time, its subsequently filed Quarterly Reports on Form 10-Q and its other filings with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this press release are qualified by the information contained under this caption. No assurance can be given that these are all of the factors that could cause actual results to vary materially from the forward-looking statements in this press release. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance, or achievements of Greenidge could differ materially from the results expressed in, or implied by, any forward-looking statements. All forward-looking statements speak only as of the date of this press release and, unless otherwise required by U.S. federal securities laws, Greenidge does not assume any duty to update or revise any forward-looking statements included in this press release, whether as a result of new information, the occurrence of future events, uncertainties or otherwise, after the date of this press release.


Use of Non-GAAP Information


To provide investors and others with additional information regarding Greenidge’s financial results, Greenidge has disclosed in this press release the non-GAAP operating performance measures of EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt. Management believes that the use of EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial measures with those of comparable companies, which may present similar non-GAAP financial measures to investors. “EBITDA” is defined as earnings before interest, taxes, depreciation and amortization. “Adjusted EBITDA” is defined as earnings before interest, taxes, depreciation and amortization, which is then adjusted for stock-based compensation and other special items determined by management, including, but not limited to, gains or losses from the sales of assets, troubled debt restructuring, insurance proceeds and liquidation of subsidiaries. “Adjusted Free Cash Flow” is defined as net cash flow provided by (used for) operating activities less purchases of and deposits for property and equipment, which is then adjusted to add revenue from digital assets production and remove proceeds from the sale of digital assets already included in operating activities. Digital assets (i.e., bitcoin) generated from mining are treated as an adjustment to reconcile net income (loss) to cash used in operating activities in the GAAP financial statements. This Adjusted Free Cash Flow measure approximates the Company’s cash flow as if such digital assets, which are highly liquid, continued to be liquidated at the time of receipt, and presented within operating activities, instead of being presented within investing activities as a result of the Company’s bitcoin retention strategy. Adjusted Free Cash Flow is not intended to be a measure of residual cash available for management’s discretionary use since it omits significant sources and uses of cash flow, including, without limitation, mandatory debt repayments and realized and unrealized gains (losses) on digital assets. The most directly comparable GAAP financial measure to Total Debt and Net Debt is total long-term debt (including the current portion), which is reported at amortized cost on the Company’s consolidated balance sheet in accordance with U.S. GAAP (ASC 470-60). “Total Debt” differs from the GAAP measure of total long-term debt as it represents the aggregate outstanding principal indebtedness under the Company’s 8.50% Senior Notes due 2026 and 10.00% Senior Notes due 2030, excluding adjustments for unamortized discounts, premiums, and issuance costs that are netted against the principal under GAAP to arrive at the carrying value. “Net Debt” is defined as Total Debt less cash and cash equivalents (including restricted cash) and digital assets. Our computation of these non-GAAP financial measures may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate these non-GAAP financial measures in the same fashion. For example, Greenidge’s presentation of Total Debt and Net Debt may be different from similar non-GAAP financial measures presented by other companies given the inclusion of the fair market value of digital assets in the calculation of Net Debt. These non-GAAP financial measures are a supplement to and not a substitute for or superior to, Greenidge’s results presented in accordance with U.S. GAAP. The non-GAAP financial measures presented by Greenidge may be different from non-GAAP financial measures presented by other companies. Specifically, Greenidge believes the non-GAAP information provides useful measures to investors regarding Greenidge’s financial performance by excluding certain costs and expenses that Greenidge believes are not indicative of its core operating results and including digital assets generated by our operations as a source of non-cash liquidity. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP. Because of these limitations, EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. Greenidge compensates for these limitations by relying primarily on its GAAP results and using EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt on a supplemental basis. You should review the reconciliation of net loss (income) to EBITDA (loss) and Adjusted EBITDA, net cash flow provided by (used for) operating activities to Adjusted Free Cash Flow, and the Company’s senior unsecured indebtedness to Total Debt and Net Debt and not rely on any single financial measure to evaluate our business.




 






Three Months Ended








Amounts denoted in millions






December 31, 2025








 






Low






 






High








 






 






 






 








Net income from operations






$






1.9






 






 






$






2.9






 








Interest expense, net






 






0.2






 






 






 






0.2






 








Depreciation






 






2.5






 






 






 






2.5






 








EBITDA






 






4.5






 






 






 






5.5






 








Stock based compensation






 






0.2






 






 






 






0.2






 








Change in fair value of warrant asset






 






0.1






 






 






 






0.1






 








Gain on sale of assets






 






(10.5






)






 






 






(10.5






)








Remeasurement of environmental liability






 






0.4






 






 






 






0.4






 








Gain on troubled debt restructuring






 






(0.8






)






 






 






(0.8






)








Adjusted EBITDA






$






(6.2






)






 






$






(5.2






)








 






 






 






 








 






Year Ended








Amounts denoted in millions






December 31, 2025








 






Low






 






High








 






 






 






 








Net income from operations






$






4.2






 






 






$






5.2






 








Interest expense, net






 






4.0






 






 






 






4.0






 








Benefit from income taxes






 






(0.1






)






 






 






(0.1






)








Depreciation






 






11.8






 






 






 






11.8






 








EBITDA






 






19.9






 






 






 






20.9






 








Stock based compensation






 






0.8






 






 






 






0.8






 








Gain on sale of assets






 






(11.9






)






 






 






(11.9






)








Remeasurement of environmental liability






 






0.4






 






 






 






0.4






 








Gain on troubled debt restructuring






 






(12.2






)






 






 






(12.2






)








Loss on liquidation of subsidiary






 






0.3






 






 






 






0.3






 








Gain on insurance proceeds






 






(0.4






)






 






 






(0.4






)








Adjusted EBITDA






$






(3.1






)






 






$






(2.1






)









 






 






 






 






 






 






 






 








Amounts denoted in millions






Three Months




Ended






 






Three Months




Ended






 






Twelve Months




Ended






 






Twelve Months




Ended








 






December 31, 2025






 






September 30, 2025






 






December 31, 2025






 






December 31, 2024








Net cash flow provided by (used for) operating activities






$






(4.6






)






 






$






0.1






 






$






(15.0






)






 






$






(12.0






)








Revenue from digital assets production






 






2.6






 






 






 






4.2






 






 






15.2






 






 






 






19.1






 








Proceeds from sale of digital assets in operating activities






 






—






 






 






 






—






 






 






—






 






 






 






(11.1






)








Purchases of and deposits for property and equipment






 






—






 






 






 






—






 






 






(2.5






)






 






 






(10.4






)








Adjusted Free Cash Flow






$






(2.0






)






 






$






4.3






 






$






(2.3






)






 






$






(14.4






)









Amounts denoted in millions






December 31, 2024






 






2025 Public and




Privately




Negotiated Tender




and Exchange




Offers and Open




Market Debt




Repurchases




(Preliminary)






 






December 31, 2025




(Preliminary)






 








8.50% Senior Notes due 2026






$






68.5






 






 






$






(31.8






)






[a]






$






36.7






 






 








10.0% Senior Notes due 2030






$






—






 






 






$






2.3






 






[a]






$






2.3






 






 








Total Debt






$






68.5






 






 






$






(29.5






)






 






$






39.0






 






 








Less: Cash and cash equivalents, including restricted cash






$






(8.6






)






 






 






 






$






(19.6






)






 








Less: Digital Assets






$






(7.0






)






 






 






 






$






(6.5






)






 








Net Debt






$






52.9






 






 






 






 






$






12.9






 






 

















 



[a] Represents debt restructuring efforts in FY2025 through multiple public tender/exchange offers, privately negotiated exchange agreements and open market debt repurchases.









 






 








1 Excludes $3.1 million and $1.0 million in capitalized contractual interest payments as of December 31, 2025 for our senior unsecured debt due October 2026 and June 2030, respectively. See Note 5, “Debt,” in the Notes to our Unaudited Condensed Consolidated Financial Statements.







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260304992788/en/
Investors

investorrelations@greenidge.com
Media

Longacre Square Partners

Kate Sylvester / Kendall Heebink

646-921-0775

greenidge@longacresquare.com


Original: Greenidge Generation Reports Preliminary Financial and Operating Results for the Fourth Quarter and Full Year 2025

$2.08 hold it that long you might lose a lot of cash 

Heavy volume today. $1.16 will be a breakout.

Insider buying.

https://www.sec.gov/Archives/edgar/data/1844971/000162828025019795/xslF345X05/wk-form4_1745582412.xml

Maybe sooner than later.

No shares available to short.

GREE...................................................https://stockcharts.com/h-sc/ui?s=GREE&p=W&b=5&g=0&id=p86431144783

GREE THE RACE IS ON ON HUGE NEWS

GREE https://ih.advfn.com/stock-market/NASDAQ/greenidge-generation-GREE/stock-news/94917040/new-york-supreme-court-rules-for-greenidge-generat

GREE ON THE MOVE

Can we get a decision?

GREE new 52 low

GREE new 52 low

GREE new 52 week low

GREE new 52 week low

Big potential here imo
Low float
Low market cap
Ending of negative sentiment

GREE climbs two spots to fifth place on the short squeeze list. The float is 11.2% below par, with a borrowing cost of 108.7%.

Greenidge Generation Holdings Inc. ($GREE) closed the day at $3.53, up 25.18% from its previous close of $2.82. This signifies that the stock price has risen by $0.7400 since the previous close.

And, of course higher is always relative to the starting point. It started tanking as soon as I bought my shares.

Greenidge Generation Holdings Inc. shares are trading higher by 11.29% to $3.45 Wednesday morning on heavy volume. The stock is trading higher amid strength in the price of Bitcoin following BlackRock's Bitcoin ETF application.

As of March 31, 2023, Greenidge had cash of $17.0 million and a debt balance of $97.3 million, which was reduced from $157.5 million as of December 31, 2022.

A reverse stock split 1 for 10 is coming, then more dilution, this company has done nothing but financial rape share holders from SPRT, and will continue until they file for bankruptcy!!! I sold today, not ever going to invest any money with this POS!!
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=317422545&type=PDF&symbol=GREE&cdn=b1758fca43e73759a964973b63e8fef9&companyName=Greenidge+Generation+Holdings+Inc.&formType=DEF+14C&formDescription=Other+definitive+information+statements&dateFiled=2023-04-24

2024 BTC->60K, GREE -> $30

BTC on the up and this continues to go down?

Can this go any lower??

If BTC keep go higher GREE will back to life

$GREE: 1.22... BOOoommmmmmmmmmmmm

WHATTA sweetttttttttt runnnerrrrrrrr


GO $GREE

GREE...what a monster

good call

$30+ ?

$GREE: Now 0.88......... it wants that $1 breaker


And its gonna get it.

BOOooooooommmmmmmmmmmmm



GO $GREE

GREE...HERE WE GO MONSTER!!!

GREE BREAKING OUT IN PRE...SEE YA AT A DOLLA

GREE monster break out taking place here

scaled out for now with 80%win,next play on deck

Can this go back to $30+

was only a matter of time,potential was great and low risk high reward is always a good thing

$GREE: Now 0.62........... helllooooooooooooooo


We eatin nowwwwwwwwwww


MANGA MANGA


GO $GREE

$GREE: Charrttttttt curl........ now at 0.53.

Count me in for 25k shares


Letsssssssss goooooooooooooooooooo

Put a $0.50 stop


GO $GREE

$400,000 traded today,climb continuing after mkt .41,no sign of weakness last 2 days ,ceiling becoming floor over and over is beautiful

daily rsi,crossing centerline(strong signal bull run start),first time in 6months $3.14 pps

skipping pennies now with little vol,yesterday .04 skip,nickles and dimes with volume,someone with 50k-200k followers will find and post,many crypto mining stocks starting green today,many things going for GREE,enjoy the ride,take profit on way up when ppl are slapping ask (i plan to start scaling out around $5.00,might flip if it skips up buck or 2 quickly)

blood in water,killer whales eating shorts,pps keeps going up,up,up power hour coming,after-mkt,pre-mkt then gap up could be good

gross profit(ttm) 73M,book value per share(mrq) $2.08 ,cash 28M,wait until ppl find out new debt structure deal with this low float (lowest of all on my scanner atm)

short interest>12/15/2022 3,018,163, days to cover>7 , been shorted from $30 many did well,time to cover

gotta love .01 big candles,runs are insane fast,low risk high rewards rule,GREE is thin as gold leaf now

with 5Xs ave vol. yesterday,news coming,maybe market watch thinking about buying news now that debt is restructured (looks more like a merger to me with all the fine print,super good for long shareholders)

sma 200@$3.15,1000%+ potential,institutions pay big salaries to find investments,GREE might get found,6days now stairstepping chart with lots of buy signals starting,8mms@.37 huge frontloading demand with very few shares to short (might run out soon)