Form 3 filing by Charles M. Zeynel. The filing discloses that Mr. Zeynel, identified as a director of Greenidge Generation Holdings Inc. (symbol GREEL), reports no securities beneficially owned as of the event date 08/11/2025. The form is an initial Section 16 filing and is signed by the reporting person on 08/20/2025.
Christian Mulvihill, Chief Financial Officer of Greenidge Generation Holdings Inc., reported a non-discretionary sale of Class A common stock on 08/13/2025 to satisfy tax withholding on vested restricted stock units. The filing shows 615 shares were sold at $1.36 per share, and the reporting person continues to beneficially own 98,645 shares in a direct ownership form after the transaction.
The Form 4 clarifies this was not a discretionary sale but a withholding sale tied to RSU vesting, and it was filed by a single reporting person who is an officer (CFO) of the issuer.
Greenidge Generation (GREEL) reported total revenue of $12.9 million for the quarter ended June 30, 2025 and a net loss of $4.1 million (loss per share $0.27). Cash and cash equivalents declined to $3.4 million while digital assets had a fair value of $7.3 million, with 68.1 bitcoin held. The company used $10.5 million of cash in operating activities for the six months ended June 30, 2025.
Management states it has historically incurred losses and faces near-term debt pressures: following recent exchanges and a tender/exchange offer, $44.6 million of 8.50% Senior Notes remain outstanding (maturing in October 2026) and $2.2 million of new 10.00% Senior Notes were issued. Management cites plans to rely on existing cash, digital assets and proceeds from pending asset sales (South Carolina land $12.1 million; Mississippi Facility APA $3.9 million) to fund operations, while Title V air permit litigation and $30.4 million of environmental liabilities present material operational and liquidity risks.
Greenidge Generation Holdings Inc. reported two routine but material corporate actions. The company furnished a press release reporting financial and operational results for the fiscal quarter ended June 30, 2025 as Exhibit 99.1, and the Board increased its size from 10 to 11 directors to appoint Charles M. Zeynel as a new non-employee director.
Mr. Zeynel brings over 40 years of experience in petrochemicals, strategic management and sustainability, including leadership roles at the ZAG Group and Union Carbide. His compensation is the company’s standard non-employee director package: an annual retainer of $40,000 and an equity award valued at $100,000 vesting over three years, and he will enter the standard indemnification agreement. The filing also lists the company’s publicly traded securities, including Class A common stock (GREE) and 8.50% Senior Notes due 2026 (GREEL).
Greenidge Generation Holdings Inc. (Nasdaq: GREE, GREEL) filed an 8-K announcing a definitive Asset Purchase Agreement dated 1-Aug-2025. Through subsidiary Greenidge Mississippi LLC, the company will sell its 6.4-acre Mississippi bitcoin-mining site at 249 Datco Industrial Rd., Columbus, together with related mining equipment (but excluding bitcoin miners) and other tangible assets (the “Acquired Assets”). The buyer is US Digital Mining Mississippi LLC.
Purchase price totals $3.9 million, comprised of (i) a $195k refundable earnest-money deposit now in escrow and (ii) $3.705 million cash at closing. The buyer may withdraw during a due-diligence period that ends five business days before the targeted closing date of 16-Sep-2025. Closing is subject to customary representations, covenants, and mutual indemnities.
The sale does not include ~73,000 sq ft of adjacent warehouse space acquired by Greenidge in Mar-2024, which the company “continues to evaluate” for alternate uses or potential sale. No financial statements or pro-forma data were provided in the filing.