Greenidge (Nasdaq: GREE) posts Q1 2026 results and advances AI/HPC plan
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Greenidge Generation Holdings reported first quarter 2026 revenue of $20.8 million, up $1.6 million from Q1 2025, driven by power and capacity revenue that more than doubled year over year to $18.7 million. Cryptocurrency mining and datacenter hosting revenues declined sharply as the company shifts toward power infrastructure and AI/HPC datacenter development.
Greenidge posted a net loss of $4.6 million, an improvement of $1.0 million from the prior year, with an EBITDA loss of $1.8 million and Adjusted EBITDA loss of $1.0 million. Operating cash outflow increased to $11.4 million, and Adjusted Free Cash Flow was a loss of $9.8 million.
The company highlighted strategic steps including a proposed NYSEG interconnection agreement for 60MW at its Dresden site, a 250MW power request at its Mississippi greenfield site supplementing 40MW planned for Q1 2027, and a signed agreement to sell a non-core Mississippi asset for $1.08 million. Greenidge ended the quarter with $7.1 million in cash, $6.7 million in bitcoin, and $38.9 million in senior unsecured debt, and continues to pursue AI/HPC-focused growth and debt reduction.
Positive
- None.
Negative
- None.
Insights
Greenidge grows power revenue and advances AI/HPC buildout while remaining loss-making.
Greenidge is clearly pivoting from pure crypto mining toward power and AI/HPC datacenter infrastructure. Power and capacity revenue rose to $18.7M, more than double Q1 2025, while crypto mining and hosting revenues fell as legacy activities shrink.
Profitability remains challenging. The company recorded a net loss of $4.6M, EBITDA loss of $1.8M, Adjusted EBITDA loss of $1.0M, and operating cash outflow of $11.4M. It ended March 31, 2026 with $7.1M cash, $6.7M in bitcoin, and Total Debt of $39.0M.
Strategically, management is progressing its AI/HPC roadmap via a proposed NYSEG interconnection for 60MW at Dresden, a 250MW load study request in Mississippi supplementing 40MW expected by Q1 2027, and a $1.08M non-core asset sale. Future filings may clarify how these initiatives translate into contracted revenue and improved cash flow.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total revenue: $20.8 million
Power and capacity revenue: $18.7 million
Net loss: $4.6 million
+5 more
8 metrics
Total revenue
$20.8 million
Three months ended March 31, 2026; up $1.6 million from Q1 2025
Power and capacity revenue
$18.7 million
Three months ended March 31, 2026; more than doubled year over year
Net loss
$4.6 million
Three months ended March 31, 2026; $1.0 million improvement vs Q1 2025
Adjusted EBITDA
($1.0 million)
Three months ended March 31, 2026; down from $0.9 million in Q1 2025
Net cash flow from operations
($11.4 million)
Three months ended March 31, 2026; compared with ($5.7 million) in Q1 2025
Total Debt
$39.0 million
As of March 31, 2026; senior notes due 2026 and 2030
Net Debt
$25.2 million
As of March 31, 2026; Total Debt less cash and digital assets
Bitcoin holdings
98 Bitcoin valued at $6.7 million
As of March 31, 2026
Key Terms
AI/HPC datacenter, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt, +2 more
6 terms
AI/HPC datacenter technical
"expected to advance the Company’s AI/HPC datacenter development plans"
A AI/HPC datacenter is a purpose-built facility that houses large numbers of powerful computers and specialized processors used for artificial intelligence and high-performance computing tasks, like training models or running complex simulations. Think of it as a factory floor for heavy computing work; its capacity, energy use and reliability directly affect a company’s ability to offer fast, scalable services and can drive capital costs, revenue potential and long-term competitive advantage for investors.
Adjusted EBITDA financial
"Adjusted EBITDA loss of $1.0 million, a reduction of $1.9 million from Q1 2025"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Adjusted Free Cash Flow financial
"Adjusted Free Cash Flow loss of $9.8 million, a decrease of $7.4 million from Q1 2025"
Adjusted free cash flow is the amount of money a company generates from its operations after accounting for essential expenses and investments, like maintaining or upgrading equipment. It shows how much cash is truly available to grow the business, pay debts, or return to shareholders, helping investors see the company's financial health more clearly.
Total Debt financial
"“Total Debt” differs from the GAAP measure of total long-term debt"
Total debt is the sum of all money a company legally owes to lenders and bondholders, including short‑term loans, long‑term loans, bonds and drawn credit lines. Think of it like adding up a household’s mortgage, car loans and credit‑card balances: it shows how leveraged the company is and how much cash will be needed to cover interest and repay obligations, which influences credit risk, cash flow flexibility and investor value.
Net Debt financial
"“Net Debt” is defined as Total Debt less cash and cash equivalents"
Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.
Interconnection Agreement technical
"Received a proposed Interconnection Agreement from NYSEG for the previously announced 60MW"
A written contract that sets the technical, legal and financial rules for linking two networks or pieces of infrastructure so they can work together safely and reliably. Like a handshake plus a rulebook for plugging systems together, it spells out who pays for connection work, who is responsible for outages or upgrades, and how data or power will flow. Investors care because these agreements affect a company’s ability to sell services, meet regulations, control costs and avoid operational disruptions.
Earnings Snapshot
Total revenue: $20.8 million
Q1 2026
Total revenue
$20.8 million
Power and capacity revenue
$18.7 million
Net loss
$4.6 million
Adjusted EBITDA
($1.0 million)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 – Other Events. | ||
On May 18, 2026, Greenidge Generation Holdings Inc. (the “Company”) issued a press release announcing financial and operating results for the first quarter ended March 31, 2026. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this report is being furnished pursuant to Item 8.01 of Form 8-K. In accordance with General Instruction B.2. of Form 8-K, the information in this report, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), except as may be expressly set forth by specific reference in such a filing.
Cautionary Note Regarding Forward-Looking Statements
This report, including Exhibit 99.1 furnished herewith, includes certain statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. 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 report 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 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 report 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 report. 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. All forward-looking statements speak only as of the date of this report and, unless otherwise required by U.S. federal securities law, the Company does not assume any duty to update or revise any forward-looking statements included in this report, whether as a result of new information, the occurrence of future events, uncertainties or otherwise, after the date of this report.
Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |||||||
99.1 | Press Release, dated May 18, 2026. | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Greenidge Generation Holdings Inc. | |||||
By: | /s/ Jordan Kovler | ||||
Name: | Jordan Kovler | ||||
Title: | Chief Executive Officer | ||||
Date: May 18, 2026
Greenidge Generation Reports First Quarter 2026 Results and Advances AI/HPC Infrastructure Expansion
Power and Capacity Revenue More than Doubles Year-Over-Year to $18.7 Million
Receipt of Proposed NYSEG Interconnection Agreement Expected to Advance 60MW Dresden AI/HPC Datacenter Development
250MW Load Study Initiated at Mississippi Site, Supplementing 40MW Planned for Energization in Q1 2027
Continued Debt Reduction and Strategic Asset Monetization Strengthen Balance Sheet and Support Long-Term Growth
PITTSFORD, NY— 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; and
•Held 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; and
•A 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 2030.1
Greenidge 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 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 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 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 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 Forma March 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
investorrelations@greenidge.com
312-809-1087
FAQ
How did Greenidge Generation (GREE) perform financially in Q1 2026?
Greenidge reported total Q1 2026 revenue of $20.8 million, up $1.6 million from Q1 2025. The company posted a net loss of $4.6 million, an improvement of $1.0 million year over year, and an Adjusted EBITDA loss of $1.0 million.
What drove Greenidge Generation’s revenue mix in Q1 2026?
Power and capacity revenue reached $18.7 million, improving by $9.5 million from Q1 2025 and more than doubling year over year. In contrast, cryptocurrency mining revenue fell to $1.8 million and datacenter hosting revenue declined to $0.4 million, reflecting the business shift.
What progress did Greenidge Generation make on its AI/HPC strategy?
Greenidge received a proposed NYSEG interconnection agreement for 60MW of non-curtailable power at its Dresden facility. It also requested an additional 250MW of power at its Mississippi site, supplementing 40MW the company anticipates being energized in Q1 2027.
What is Greenidge Generation’s debt and liquidity position as of March 31, 2026?
As of March 31, 2026, Greenidge reported Total Debt of $39.0 million, consisting of its 8.50% Senior Notes due 2026 and 10.00% Senior Notes due 2030. The company held $7.1 million in cash and $6.7 million in bitcoin, resulting in Net Debt of $25.2 million.
How did Greenidge Generation’s cash flows and non-GAAP metrics look in Q1 2026?
Net cash flow used for operating activities was $11.4 million, compared with $5.7 million in Q1 2025. Adjusted Free Cash Flow was a loss of $9.8 million. The company reported an EBITDA loss of $1.8 million and an Adjusted EBITDA loss of $1.0 million.
What asset monetization actions did Greenidge Generation take in Mississippi?
Greenidge signed an agreement in April to sell a non-core Mississippi asset for $1.08 million. It also continues discussions with multiple parties regarding potential joint ventures, strategic partnerships, or other transactions involving the Mississippi greenfield site, including a possible sale.