Greenidge Generation Reports Q2 2025 Earnings: Revenue at $12.9M, Net Loss of $4.1M

Greenidge Generation Holdings reported Q2 2025 earnings with revenue of $12.9 million and a net loss of $4.1 million. The company reduced its senior unsecured debt by 38.2% to $44.6 million and achieved a positive adjusted EBITDA of $0.4 million. Greenidge improved its miner fleet efficiency to 23.6 J/TH and closed on a 37-acre site in Mississippi to provide additional low-cost power by July 2026.

Greenidge Generation Holdings Inc. (Nasdaq: GREE) reported its second-quarter (Q2) 2025 earnings, highlighting a total revenue of $12.9 million and a net loss of $4.1 million. The company achieved a positive adjusted EBITDA of $0.4 million, reflecting improved operational efficiency.

Greenidge reduced its senior unsecured debt by 38.2%, bringing the debt down to $44.6 million. This significant reduction was achieved through privately negotiated exchanges and a public tender/exchange offer, which was oversubscribed by 100% [2].

The company's cryptocurrency mining revenue amounted to $4.2 million, while datacenter hosting revenue reached $6.0 million. Power and capacity revenue totaled $2.6 million, contributing to the overall revenue of $12.9 million. Total bitcoin production for the quarter was 110 BTC.

Greenidge's CEO, Jordan Kovler, commented on the company's progress: "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].

Notably, Greenidge improved the efficiency of its miner fleet to 23.6 J/TH and closed on the purchase of a 37-acre site in Mississippi, which is expected to provide access to 44 MW of additional low-cost power by July 2026. The company also announced the sale of its existing 7.5MW Mississippi mining facility and is progressing towards the closing of the sale of its South Carolina property by August 25, 2025 [2].

Greenidge ended Q2 2025 with $3.4 million in cash, $7.3 million in bitcoin, and $58.2 million in aggregate principal amount of senior unsecured debt. The company continues to explore strategic alternatives to maximize value for its stakeholders, including purchasing additional miners to improve fleet efficiency and acquiring additional sites with significant low-cost power capacity [2].

References:
[1] Reuters. (2025, August 13). Greenidge Generation Q2 Revenue USD 12.9 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] Morningstar. (2025, August 13). Greenidge Generation Highlights Recent Business Advancements and Reports Financial and Operating Results for the Second Quarter 2025. Retrieved from https://www.morningstar.com/news/business-wire/20250813959200/greenidge-generation-highlights-recent-business-advancements-and-reports-financial-and-operating-results-for-the-second-quarter-2025
[3] Nasdaq. (2025, August 14). LM Funding America (NASDAQ:LMFA) Reported Results for the Quarter Ended June 30, 2025. Retrieved from https://www.nasdaq.com/articles/lm-funding-america-swings-q2-profit