Welcome to our dedicated page for Greenidge Generation Holdings news (Ticker: GREE), a resource for investors and traders seeking the latest updates and insights on Greenidge Generation Holdings stock.
Greenidge Generation Holdings Inc. (Nasdaq: GREE) is a vertically integrated power generation and cryptocurrency datacenter company whose news flow centers on operations, regulatory developments, capital structure, and asset transactions. Company announcements describe a business that combines power generation with cryptocurrency mining, datacenter hosting, and power and capacity activities, anchored by its Dresden, New York facility.
On this page, readers can review GREE news related to cryptocurrency mining performance, datacenter hosting activity, and power and capacity revenue, as reported in company press releases. Greenidge regularly issues updates on quarterly financial and operating results, including metrics such as total revenue, cryptocurrency mining revenue, datacenter hosting revenue, power and capacity revenue, and bitcoin production, along with non-GAAP measures like EBITDA, Adjusted EBITDA, and Adjusted Free Cash Flow.
Greenidge news also covers significant regulatory milestones, particularly around the company’s Title V Air Permit for the Dresden facility. The company has reported a stipulation of settlement with the New York State Department of Environmental Conservation and a historic agreement on a new five-year permit that includes greenhouse gas emissions limits and confirms the facility’s ability to continue supplying power to the local grid while operating as a cryptocurrency datacenter.
Another recurring theme in GREE updates is capital structure and debt management, including tender and exchange offers for its 8.50% Senior Notes due 2026 and the issuance of 10.00% Senior Notes due 2030. Press releases detail the terms, early results, and final results of these offers. In addition, Greenidge issues news about asset sales and development, such as the sale of its Mississippi bitcoin mining facility and the sale of its Spartanburg, South Carolina property and associated electrical capacity rights, as well as commentary on expansion properties and power contracts.
Investors and observers who follow GREE news can use this page to monitor company-reported developments affecting its power generation operations, cryptocurrency mining and hosting activities, regulatory agreements, and senior notes. Bookmark this feed to access a consolidated view of Greenidge’s official announcements and updates over time.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) has been chosen as a launch customer for Bitmain's new ANTMINER S19 XP, which operates with 27% less electricity per terahash than current models. This partnership emphasizes Greenidge's commitment to carbon-neutral bitcoin mining, with plans to deploy these miners at a facility in South Carolina or Texas by Q3 2022. The order increases Greenidge's mining capacity to approximately 49,000 miners and 4.7 EH/s by the end of 2022, showcasing their focus on enhancing mining efficiency.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced significant expansion plans beyond New York. The company increased its order with Bitmain to 22,500 mining units, aiming for a total capacity of 4.1 EH/s and 130 MW by 2022. Exclusive agreements for 3,000 MW of development potential in Texas and South Carolina were established, including a $15 million purchase for a 175-acre site in South Carolina. These initiatives are supported by $55.2 million raised from senior notes. Greenidge emphasizes its commitment to 100% carbon-neutral bitcoin mining across its expanding operations.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced that underwriters will exercise their option to purchase an additional $5.2 million of senior unsecured notes due 2026. This will increase the total offering size to $55.2 million, expected to close today. The notes are offered through Greenidge's registration statements with the SEC, which were declared effective on October 8, 2021. Greenidge focuses on carbon-neutral bitcoin mining and aims to expand operations in South Carolina with a majority of electricity from zero-carbon sources.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced an increase in its public offering of 8.50% Senior Notes due 2026 from $40 million to $50 million, with net proceeds expected to be around $48.25 million. The funds will support general corporate needs, including capital expenditures and debt repayment. The Offering is set to close on October 13, 2021, and the Notes will be listed on Nasdaq under the symbol 'GREEL' starting October 14, 2021. The notes are rated B by Egan-Jones Ratings Company.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced plans to offer $40 million in senior unsecured notes due 2026 in a registered public offering. The funds will be utilized for general corporate purposes, including capital expenditures and debt repayment. The notes will be rated B by Egan-Jones and issued in minimum denominations of $25.00. An application for listing the notes on Nasdaq under the symbol GREEL has been submitted, with trading expected to commence within 30 days post-issuance.
Greenidge Generation Holdings (NASDAQ: GREE) reported preliminary results for Q3 2021, projecting revenues between $33 million and $37 million, with a net loss estimated at $(19) million to $(16) million. The expected loss includes approximately $30 million in charges due to the merger with Support.com. The company mined 729 bitcoins during the quarter and had about 15,300 miners active, achieving 1.2 EH/s capacity. Greenidge finished the quarter with $52 million in cash and cryptocurrency holdings.