Greenidge Generation Holdings (GREE) Registration filing summary

Company overview and business model

• Develops and operates datacenters and power assets for energy-intensive computing, focusing on bitcoin mining and expanding into AI and HPC workloads.

• Generates revenue from datacenter hosting, cryptocurrency self-mining, and power/capacity sales, leveraging vertical integration with owned power generation and grid interconnection rights.

• Operates a 106 MW natural gas power plant in New York, a 34-acre site in Mississippi (targeting 40 MW by Q1 2027), and leases 7.5 MW in North Dakota.

• As of March 31, 2026, operated 23,500 ASIC miners with 2.7 EH/s capacity, split between hosting and self-mining.

• Competitive advantages include vertical integration, low power costs, behind-the-meter supply, and institutional backing from Atlas Capital Resources.

Financial performance and metrics

• For Q1 2026, power and capacity sales accounted for 90% of total revenue; for FY 2025, they represented 38%.

• Revenue from power and capacity sales is variable, influenced by electricity market dynamics and natural gas prices.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including debt repayment/refinancing, acquisitions, capital expenditures, and working capital.

• Proceeds may be temporarily invested in short-term, investment-grade securities or held as cash.

• Will not receive proceeds from securities sold by selling securityholders.