Greenidge Generation Holdings Posts Q2 Revenue of $12.9M, Net Loss of $4.1M, and 110 BTC Produced

Greenidge Generation Holdings reported Q2 revenue of $12.9M, a net loss of $4.1M, and total bitcoin production of 110 BTC.

Greenidge Generation Holdings Inc. (Nasdaq: GREE) has released its financial results for the second quarter ended June 30, 2025. The company reported total revenue of $12.9 million, a net loss of $4.1 million, and produced a total of 110 BTC during the quarter [1].

The company's revenue was driven by cryptocurrency mining ($4.2 million), datacenter hosting ($6.0 million), and power and capacity revenue ($2.6 million). Despite these earnings, Greenidge ended the quarter with a net loss of $4.1 million, primarily due to operating expenses and interest costs. The company also reported an EBITDA loss of $0.2 million and a positive adjusted EBITDA of $0.4 million [1].

Greenidge Generation has been actively managing its debt obligations. The company successfully completed a tender and exchange offer, reducing its senior unsecured debt due October 2026 to $44.6 million, a 38.2% reduction from the original $72.2 million [1]. Additionally, the company has been exploring strategic alternatives to maximize value for stakeholders, including purchasing additional miners to improve fleet efficiency and acquiring additional sites with significant low-cost power capacity [1].

The company's financial struggles have led to the sale of its Mississippi bitcoin mining facility. Greenidge agreed to sell the 6.4-acre facility in Columbus, Mississippi, including certain contracts, mining equipment, and other business assets, for approximately $3.9 million to U.S. Digital Mining Mississippi [2].

Greenidge Generation's financial performance highlights the challenges faced by the cryptocurrency mining industry, particularly in the United States, due to factors such as regulatory uncertainty and tariffs [2]. The company's strategic initiatives and debt management efforts suggest a focus on improving operational efficiency and reducing financial strain.

References:
[1] https://www.stocktitan.net/news/GREE/greenidge-generation-highlights-recent-business-advancements-and-q162gr9n7j9w.html
[2] https://www.theblock.co/amp/post/365966/bitcoin-miner-greenidge-sell-mississippi-facility-3-9-million-usd-financial-strain-trump-tariffs