\nGreenidge Generation Holdings Inc. (Nasdaq: GREE) (\u201cGreenidge\u201d or the \u201cCompany\u201d), a vertically integrated power generation company focused on datacenters and infrastructure development, announced preliminary financial and operating results for the fourth quarter and fiscal year ended December 31, 2025 and provided an update on the Company\u2019s growth prospects.<\/p>\n
Recent Fourth Quarter 2025 Highlights:<\/span><\/b><\/p>\n Fourth Quarter 2025 Preliminary Financial Results:<\/span><\/b><\/p>\n Additional 2025 Highlights:<\/span><\/b><\/p>\n Full Year 2025 Preliminary Financial Results:<\/span><\/b><\/p>\n \nGreenidge currently operates 111.5MW of active self-mining, hosting and power generation across its sites in New York and North Dakota. The Company\u2019s active datacenter operations deliver approximately 2.8 EH\/s of combined datacenter hosting and cryptocurrency mining capacity, of which 1.8 E\/Hs is attributable to datacenter hosting and 1.0 E\/Hs is attributable to our cryptocurrency mining.<\/p>\n \nGreenidge ended the fourth quarter with $19.6 million of cash, $6.5 million of bitcoin and $39.0 million in aggregate principal amount of senior unsecured debt due October 2026 and June 2030.1<\/sup><\/p>\n \nGreenidge CEO Jordan Kovler commented: \u201cOur team\u2019s exceptional focus and execution over the past two and a half years have helped set the stage for Greenidge to realize its significant growth potential and facilitate an effective transition from Bitcoin mining to AI\/HPC. Notably, 2025 culminated in Greenidge securing a historic agreement with NYSDEC on a five-year Title V Air Permit that strengthens our path to sustained growth and profitability and ends all litigation and administrative appeals between the Company and New York. Our Dresden facility serves as a model for responsible datacenter operations by utilizing on-site power generation. By agreeing to reduce carbon emissions, actively exploring opportunities to remediate the environmental impacts of prior owners and pairing behind-the-meter use with on-site generation and flexible load management, Greenidge serves the twin goals of promoting affordable electrical service for the residents of New York while benefiting the local community and contributing to our nation\u2019s leadership position in AI development.\u201d<\/p>\n \nKovler continued, \u201cWe have reduced our debt from over $157.5 million in 2023 to $39.0 million as of December 31, 2025, while reducing our SG&A expenses from $26.1 million in 2023 to $12.1 million in 2025. The meaningful progress made toward securing and developing powered land has led to the sale of two sites and lower-efficiency miners in 2025 for over $22.2 million, with the potential to receive up to an additional $18 million. We also gained future access to 100MW of additional power in 2025, nearly doubling our current capacity. We will continue efforts to further restructure our senior unsecured debt due October 2026 and position the Company to utilize its energy footprint for actionable growth opportunities that maximize value for all Greenidge stakeholders.\u201d<\/p>\n About Greenidge Generation Holdings Inc.<\/b><\/p>\n \nGreenidge Generation Holdings Inc. (Nasdaq: GREE) is a vertically integrated power generation company, focusing on datacenters, electrical and infrastructure development, engineering, procurement, construction management, operations and site maintenance.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release includes certain statements that may constitute \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect Greenidge\u2019s financial or operating results. These forward-looking statements may be identified by terms such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontinue,\u201d \u201cforesee,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d and \u201cshould,\u201d and the negative of these terms or other similar expressions. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Forward-looking statements in this press release include, among other things, statements regarding the receipt of a final Title V Air Permit, gaining additional power access and the business plan, business strategy and operations of Greenidge in the future. In addition, all statements that address operating performance and future performance, events or developments that are expected or anticipated to occur in the future are forward looking statements. Forward-looking statements are subject to a number of risks, uncertainties and assumptions. Matters and factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include but are not limited to the matters and factors described in Part I, Item 1A. \u201cRisk Factors\u201d of Greenidge\u2019s Annual Report on Form 10-K for the year ended December 31, 2024, as may be amended from time to time, its subsequently filed Quarterly Reports on Form 10-Q and its other filings with the Securities and Exchange Commission. Consequently, all of the forward-looking statements made in this press release are qualified by the information contained under this caption. No assurance can be given that these are all of the factors that could cause actual results to vary materially from the forward-looking statements in this press release. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance, or achievements of Greenidge could differ materially from the results expressed in, or implied by, any forward-looking statements. All forward-looking statements speak only as of the date of this press release and, unless otherwise required by U.S. federal securities laws, Greenidge does not assume any duty to update or revise any forward-looking statements included in this press release, whether as a result of new information, the occurrence of future events, uncertainties or otherwise, after the date of this press release.<\/p>\n Use of Non-GAAP Information<\/b><\/p>\n \nTo provide investors and others with additional information regarding Greenidge\u2019s financial results, Greenidge has disclosed in this press release the non-GAAP operating performance measures of EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt. Management believes that the use of EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial measures with those of comparable companies, which may present similar non-GAAP financial measures to investors. \u201cEBITDA\u201d is defined as earnings before interest, taxes, depreciation and amortization. \u201cAdjusted EBITDA\u201d is defined as earnings before interest, taxes, depreciation and amortization, which is then adjusted for stock-based compensation and other special items determined by management, including, but not limited to, gains or losses from the sales of assets, troubled debt restructuring, insurance proceeds and liquidation of subsidiaries. \u201cAdjusted Free Cash Flow\u201d is defined as net cash flow provided by (used for) operating activities less purchases of and deposits for property and equipment, which is then adjusted to add revenue from digital assets production and remove proceeds from the sale of digital assets already included in operating activities. Digital assets (i.e., bitcoin) generated from mining are treated as an adjustment to reconcile net income (loss) to cash used in operating activities in the GAAP financial statements. This Adjusted Free Cash Flow measure approximates the Company\u2019s cash flow as if such digital assets, which are highly liquid, continued to be liquidated at the time of receipt, and presented within operating activities, instead of being presented within investing activities as a result of the Company\u2019s bitcoin retention strategy. Adjusted Free Cash Flow is not intended to be a measure of residual cash available for management\u2019s discretionary use since it omits significant sources and uses of cash flow, including, without limitation, mandatory debt repayments and realized and unrealized gains (losses) on digital assets. The most directly comparable GAAP financial measure to Total Debt and Net Debt is total long-term debt (including the current portion), which is reported at amortized cost on the Company\u2019s consolidated balance sheet in accordance with U.S. GAAP (ASC 470-60). \u201cTotal Debt\u201d differs from the GAAP measure of total long-term debt as it represents the aggregate outstanding principal indebtedness under the Company\u2019s 8.50% Senior Notes due 2026 and 10.00% Senior Notes due 2030, excluding adjustments for unamortized discounts, premiums, and issuance costs that are netted against the principal under GAAP to arrive at the carrying value. \u201cNet Debt\u201d is defined as Total Debt less cash and cash equivalents (including restricted cash) and digital assets. Our computation of these non-GAAP financial measures may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate these non-GAAP financial measures in the same fashion. For example, Greenidge\u2019s presentation of Total Debt and Net Debt may be different from similar non-GAAP financial measures presented by other companies given the inclusion of the fair market value of digital assets in the calculation of Net Debt. These non-GAAP financial measures are a supplement to and not a substitute for or superior to, Greenidge\u2019s results presented in accordance with U.S. GAAP. The non-GAAP financial measures presented by Greenidge may be different from non-GAAP financial measures presented by other companies. Specifically, Greenidge believes the non-GAAP information provides useful measures to investors regarding Greenidge\u2019s financial performance by excluding certain costs and expenses that Greenidge believes are not indicative of its core operating results and including digital assets generated by our operations as a source of non-cash liquidity. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP. Because of these limitations, EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. Greenidge compensates for these limitations by relying primarily on its GAAP results and using EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow, Total Debt and Net Debt on a supplemental basis. You should review the reconciliation of net loss (income) to EBITDA (loss) and Adjusted EBITDA, net cash flow provided by (used for) operating activities to Adjusted Free Cash Flow, and the Company\u2019s senior unsecured indebtedness to Total Debt and Net Debt and not rely on any single financial measure to evaluate our business.<\/p>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n Amounts denoted in millions<\/i><\/p>\n<\/td>\n December 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Low<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n High<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income from operations<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest expense, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n EBITDA<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 4.5<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 5.5<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock based compensation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nChange in fair value of warrant asset<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGain on sale of assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nRemeasurement of environmental liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGain on troubled debt restructuring<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (6.2<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (5.2<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n Amounts denoted in millions<\/i><\/p>\n<\/td>\n December 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Low<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n High<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income from operations<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInterest expense, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBenefit from income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDepreciation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n EBITDA<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 19.9<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 20.9<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock based compensation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGain on sale of assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(11.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(11.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nRemeasurement of environmental liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGain on troubled debt restructuring<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLoss on liquidation of subsidiary<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGain on insurance proceeds<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Adjusted EBITDA<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (3.1<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (2.1<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Amounts denoted in millions<\/i><\/p>\n<\/td>\n Three Months<\/b><\/p>\n Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Three Months<\/b><\/p>\n Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Twelve Months<\/b><\/p>\n Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Twelve Months<\/b><\/p>\n Ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n December 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 30, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n Net cash flow provided by (used for) operating activities<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (4.6<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 0.1<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (15.0<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (12.0<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \nRevenue from digital assets production<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProceeds from sale of digital assets in operating activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(11.1<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nPurchases of and deposits for property and equipment<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.4<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Adjusted Free Cash Flow<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (2.0<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 4.3<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (2.3<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (14.4<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Amounts denoted in millions<\/i><\/p>\n<\/td>\n December 31, 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025 Public and<\/b><\/p>\n Privately<\/b><\/p>\n Negotiated Tender<\/b><\/p>\n and Exchange<\/b><\/p>\n Offers and Open<\/b><\/p>\n Market Debt<\/b><\/p>\n Repurchases<\/b><\/p>\n (Preliminary)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31, 2025<\/b><\/p>\n (Preliminary)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n8.50% Senior Notes due 2026<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n68.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(31.8<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n[a]<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n36.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n10.0% Senior Notes due 2030<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n[a]<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total Debt<\/b><\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n68.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(29.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n39.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Cash and cash equivalents, including restricted cash<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(8.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(19.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLess: Digital Assets<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(7.0<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(6.5<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net Debt<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 52.9<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 12.9<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n[a] Represents debt restructuring efforts in FY2025 through multiple public tender\/exchange offers, privately negotiated exchange agreements and open market debt repurchases.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n 1<\/sup> Excludes $3.1 million and $1.0 million in capitalized contractual interest payments as of December 31, 2025 for our senior unsecured debt due October 2026 and June 2030, respectively. See Note 5, \u201cDebt,\u201d in the Notes to our Unaudited Condensed Consolidated Financial Statements.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260304992788\/en\/<\/a><\/span><\/p>\n Investors\n
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\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n
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investorrelations@greenidge.com
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