Greenidge Generation cuts debt, reports Q2 results, appoints new board member.

• Greenidge Generation reports Q2 2025 financial and operating results • Debt reduction through public tender/exchange offer • Oversubscribed cash tender offer by 100% • Charles M. Zeynel appointed to the board • Extensive expertise in sustainable materials, carbon removal technologies, and M&A • Vertically integrated cryptocurrency datacenter and power generation company

Greenidge Generation Holdings Inc. (Nasdaq: GREE), a vertically integrated cryptocurrency datacenter and power generation company, has released its Q2 2025 financial and operating results. The company reported a total revenue of $12.9 million, with a net loss of $4.1 million. Key highlights include a significant debt reduction through a public tender/exchange offer, the appointment of Charles M. Zeynel to the board, and advancements in operational efficiency.

Greenidge's Q2 2025 financial results showed a total revenue of $12.9 million, a net loss of $4.1 million, and an EBITDA loss of $0.2 million. The company's cryptocurrency mining revenue was $4.2 million, while datacenter hosting revenue was $6.0 million, and power and capacity revenue was $2.6 million. The total bitcoin production was 110 BTC [2].

Notably, Greenidge successfully reduced its senior unsecured debt due October 2026 to $44.6 million, representing a 38.2% reduction from the original $72.2 million in aggregate principal amount. This was achieved through a cash tender offer that was oversubscribed by 100% [2].

The company also announced the appointment of Charles M. Zeynel as an independent director. Zeynel brings over four decades of global leadership experience and extensive expertise in sustainable materials, carbon removal technologies, and mergers and acquisitions to the company's board of directors [2].

Greenidge Generation's CEO, Jordan Kovler, commented on the company's progress, stating, "With the successful completion of our tender and exchange offer, we have significantly reduced our October 2026 debt obligations by $27.6 million since October 2024, while continuing to secure opportunities to optimize and scale our mining operations. Building on this momentum, we remain focused on aggressively pursuing strategic opportunities to maximize value for all Greenidge stakeholders, including further restructuring of our October 2026 senior unsecured debt at a significant discount to par value" [2].

The company's current active datacenter operations consist of approximately 3.2 E/Hs of datacenter hosting and cryptocurrency mining, with 1.8 E/Hs associated with datacenter hosting and 1.4 E/Hs associated with cryptocurrency mining [2].

Greenidge ended the second quarter with $3.4 million in cash, $7.3 million in bitcoin, and $58.2 million in aggregate principal amount of senior unsecured debt [2].

References:
[1] Reuters. (2025, August 13). Greenidge Generation Q2 operating income USD 4.1 million. Retrieved from https://www.tradingview.com/news/reuters.com,2025-08-13:newsml_PLX7D94BB:0-brief-greenidge-generation-q2-revenue-usd-12-9-million/
[2] Greenidge Generation Holdings Inc. (2025, August 13). Greenidge Generation Holdings Inc. Reports Q2 2025 Financial Results. Retrieved from https://www.stocktitan.net/news/GREE/greenidge-generation-highlights-recent-business-advancements-and-q162gr9n7j9w.html
[3] Seeking Alpha. (2025, August 13). Greenidge Generation Holdings press release (NASDAQ:GREE): Q2 revenue of $12.9M. Retrieved from https://seekingalpha.com/news/4484945-greenidge-generation-holdings-reports-q2-results