secwatch.observer — SEC 8-K summary
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Issuer:     Greenidge Generation Holdings Inc. (GREE)
CIK:        0001844971
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001628280-23-029387
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenidge sells SC mining site to NYDIG, eliminates $22M debt; Q2 rev $14.7M, net loss $9.8M
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- Entered term sheet to sell South Carolina mining facility (44 MW) to NYDIG for $4.9M cash plus up to $2.6M in bonus payments; eliminates $21.8M secured debt.
- Completed 26 MW expansion of SC facility to 44 MW; will host additional NYDIG miners until sale closing.
- Q2 2023 total revenue $14.7M; GAAP net loss from continuing operations $9.8M; adjusted EBITDA loss $2.4M.
- Self-mined 143 bitcoins; active mining capacity 4.1 EH/s from 38,700 miners as of June 30, 2023.
- Cash balance of $15.4M as of June 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1844971/000162828023029387/0001628280-23-029387-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1844971/000162828023029387/gree-20230814.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-029387

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