secwatch.observer — SEC 8-K summary
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Issuer:     Greenidge Generation Holdings Inc. (GREE)
CIK:        0001844971
Form:       8-K
Filed at:   2023-01-31T23:59:59+00:00
Accession:  0001628280-23-001779
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1844971/000162828023001779/0001628280-23-001779-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1844971/000162828023001779/gree-20230130.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-001779

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer