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.

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

• Hosting agreements, such as with NYDIG, provide cost recovery, hosting fees, and profit-sharing, offering revenue stability and upside potential.

Financial performance and metrics

• As of June 1, 2026, aggregate market value of Class A common stock held by non-affiliates is approximately $22.08 million.

• Power and capacity sales accounted for 90% of total revenue for the three months ended March 31, 2026, and 38% for the year ended December 31, 2025.

• No securities sold under the current shelf registration in the prior 12 months.

Use of proceeds and capital allocation

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

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