Greenidge reduces NYDIG debt by ~$59M to ~$17M; enters hosting agreements and amends B. Riley note

Greenidge Generation Holdings Inc.

Debt settlement cuts ~$76M NYDIG obligation to ~$17M; potential further $10M reduction via site transfer.
B. Riley note amended: ~$11M reduced to ~$9M; no principal/interest until June 2023; $1M fee paid in stock at $0.75/share.
B. Riley and Atlas each purchase $1M of GREE common stock; $1.9M proceeds used to pay down promissory note.
Preliminary Q4 2022 revenue ~$15M, net loss ~$120-130M (incl. $93-100M impairment), 683 bitcoin produced.
Hosting agreements with NYDIG cover all current mining capacity with profit-sharing; Greenidge retains ~10,000 miners (~1.1 EH/s).

item 1.01 item 2.01 item 2.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Greenidge Generation Holdings Inc. reported preliminary financial results for the fourth quarter of 2022.

Period: the fourth quarter of 2022
Result: preliminary results

Exact text from the filing

On January 30, 2023, Greenidge issued a press release announcing selected preliminary financial results for the fourth quarter ended December 31, 2012.

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Greenidge Generation Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-001779

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