Greenidge Generation Holdings Inc Stock Price, News & Analysis

Greenidge Generation (NASDAQ:GREE), a cryptocurrency datacenter and power generation company, reported its Q2 2025 financial results and business updates. The company achieved a 38.2% reduction in senior unsecured debt to $44.6 million through exchanges and a public tender offer.

Q2 2025 financial highlights include total revenue of $12.9 million, with cryptocurrency mining revenue of $4.2 million, datacenter hosting revenue of $6.0 million, and power revenue of $2.6 million. The company reported a net loss of $4.1 million but maintained positive adjusted EBITDA of $0.4 million.

Strategic developments include the acquisition of a 37-acre Mississippi site expected to provide 44 MW of low-cost power by July 2026, the planned sale of their South Carolina property, and the appointment of Charles M. Zeynel to the Board. The company's Dresden power plant achieved a 99.6% energy availability rate in July.

Greenidge Generation (NASDAQ: GREE) has announced the final results of its Tender/Exchange Offer for its 8.50% Senior Notes due 2026. The offer, which expired on July 18, 2025, allowed holders to either exchange their notes for new 10.00% Senior Notes due 2030 or tender them for cash.

Of the $58,274,700 outstanding principal amount, $13,685,900 was accepted in the offer, with $8,901,325 accepted for cash tender at $9.00 per $25.00 principal amount, and $4,784,575 exchanged for new notes at $11.00 in new notes per $25.00 principal amount. The company will issue $2,105,213 in new notes, which will trade under symbol "GREEN" on the OTC Market instead of Nasdaq due to not meeting minimum listing requirements.

Greenidge Generation (NASDAQ: GREE) has announced early results of its concurrent tender and exchange offers for its outstanding 8.5% Senior Notes due 2026. The company increased its Cash Payment Limit from $3,000,000 to $3,204,477 for the Tender Option.

As of the Early Tender Date (July 2, 2025), $17,802,650 in principal amount was validly tendered under the Tender Option, with an approximate 50% proration factor. Additionally, $1,373,475 of Old Notes were tendered under the Exchange Option. The company will settle accepted Tender Option notes on July 9, 2025, offering $9.00 in cash for each $25.00 principal amount plus accrued interest.

Greenidge Generation (NASDAQ: GREE) has launched a concurrent tender and exchange offer for its outstanding 8.50% Senior Notes due 2026. The offer includes two options: an Exchange Option offering $11.00 in new 10.00% Senior Notes due 2030 for each $25.00 of old notes, and a Tender Option offering $8.50 in cash per $25.00 of old notes, with an early tender premium of $9.00 if tendered by July 2, 2025. The Exchange Option represents a 38% premium to the June 16 closing price, while the Early Tender and standard Tender options offer 13% and 7% premiums respectively. The total amount eligible for exchange/purchase is $58,274,700, with a cash payment limit of $3.0 million for the Tender Option. The offer expires on July 17, 2025, and the new notes will trade under symbol "GREEN" on Nasdaq.

Greenidge Generation (NASDAQ: GREE) reported its Q1 2025 financial results, showing total revenue of $19.2 million with a net loss of $5.6 million. The company's revenue streams included cryptocurrency mining ($4.2M), datacenter hosting ($5.8M), and power and capacity ($9.2M), producing 112 BTC during the quarter.

The company reduced its debt to $60.2 million, a 16.6% reduction from the original $72.2 million. Greenidge appointed Kenneth Fearn and Christopher Krug as independent directors and secured a new 37-acre site in Mississippi with 40 MW of additional power capacity expected by July 2026. The company currently operates 119MW across sites in New York, Mississippi, and North Dakota, with plans to expand to 161.5MW in the near term.

As of Q1 2025, Greenidge maintains $4.9 million in cash, $8.4 million in Bitcoin, and $66.7 million in debt, while operating 3.3 EH/s of total hashrate capacity.

Greenidge Generation Holdings (Nasdaq: GREE) announced significant changes to its Board of Directors effective April 17, 2025. The company appointed two new independent directors: Kenneth Fearn, a senior executive with over 30 years of experience in investments, finance, and M&A, specializing in real estate, and Christopher Krug, an experienced founder and public markets investor focused on small-cap companies.

The appointments are part of Greenidge's ongoing Board refreshment process. Concurrent with these additions, David Anderson and Daniel Rothaupt will retire from the Board. Timothy Fazio, Managing Partner and Co-Founder of Atlas Holdings , has been elected as Chairman of the Board.

Greenidge Generation (NASDAQ: GREE) reported preliminary Q4 2024 results with total revenue of $14.8M, up $2.4M from Q3, and a reduced net loss of $3.3-4.3M. The company's Q4 revenue streams included: cryptocurrency datacenter self-mining ($4.0M), hosting ($7.3M), and power/capacity ($3.5M).

For full-year 2024, Greenidge achieved $59.5M in revenue and reduced SG&A expenses by $8.9M compared to 2023. The company completed 15MW mining buildouts in Mississippi and North Dakota, improving fleet efficiency to 23.8 J/TH. Currently operating 119MW across New York, Mississippi, and North Dakota facilities, with plans to reach 146.5MW capacity by end of 2025.

The company holds over 85 Bitcoin, reduced debt by $5.2M through debt-for-equity exchanges, and is exploring acquisition of new sites with over 200MW of power assets. Management indicates future growth strategy may require converting substantial outstanding notes to equity at below par value.

Greenidge Generation Holdings (NASDAQ: GREE) has announced the sale of its 152-acre Spartanburg, South Carolina property to Data Journey for $12.1 million in cash plus an 8% profit participation interest in the planned data center. The property, initially purchased by Greenidge in 2021 for $15 million, includes access to 60 MW of secured power.

This transaction marks Greenidge's first major entry into the data center space. After the sale closes, Greenidge will support Data Journey in site development. The property has potential for expansion up to 100MW with proprietary onsite power generation. Data Journey currently operates facilities in North Carolina and Texas, with plans to expand to six new sites in 2025.

The deal follows Greenidge's earlier sale of 23 acres and 44 MW mining facilities to NYDIG for approximately $28 million in 2023. The transaction is expected to close in Q1 2025.

The New York Supreme Court has ruled in favor of Greenidge Generation (NASDAQ: GREE), rejecting the Department of Environmental Conservation's (DEC) denial of their Title V Air Permit renewal. Judge Vincent Dinolfo declared DEC's action as 'arbitrary and capricious' with 'no rational basis.' This marks the seventh consecutive court ruling in Greenidge's favor, allowing their New York facility to continue uninterrupted operations. The court found that DEC's interpretation of the Climate Act (CLCPA) Section 7(2) was flawed and politically motivated rather than based on law. The facility will continue providing data center operations and power to the electrical grid while maintaining local high-tech jobs.