Greenidge Generation Holdings Inc. reported a significant improvement in financial and operating results for Q3 2025, driven by a landmark agreement with NYSDEC for a new air permit, which provides a pathway for long-term growth and operational stability. The company also made substantial progress in reducing its debt obligations.
Announced a landmark agreement with the New York State Department of Environmental Conservation (NYSDEC) providing a pathway for the issuance of a new five-year Title V Air Permit.
positivePower and capacity revenue increased 83% to $4.7 million, reflecting improved contribution to the local energy grid.
positiveTotal revenue improved to $15.2 million, up from $13.3 million in Q2 2025.
positiveNet income improved significantly to $12.0 million from a net loss in the prior quarter.
positiveEBITDA improved to $15.2 million from $15.4 million in Q2 2025.
positiveAdjusted EBITDA improved to $1.7 million from $1.3 million in Q2 2025.
positiveNet cash flow provided by operating activities improved to $0.1 million from a negative $4.8 million in Q2 2025.
positiveAdjusted Free Cash Flow improved to $4.3 million from a negative $2.1 million in Q2 2025.
positiveReduced senior unsecured debt due October 2026 by 47.2% to $38.0 million.
positiveImproved efficiency of current active miner fleet by 10% to 21.3 J/TH.
positiveClosed on $3.9 million sale of the Company’s 7.5MW Mississippi mining facility.
positiveReported no equity sales under the Company’s equity line of credit (ELOC) during the third quarter with no current plans to utilize it.
positiveCryptocurrency mining revenue remained flat at $4.2 million compared to Q2 2025.
attentionTotal of 95 Bitcoins produced, a decrease of 15 from Q2 2025.
attentionThe company has $45.8 million of senior unsecured debt outstanding, including future contractual interest payments of $5.2 million.
attentionMargin metrics will be available once backend extracts data from insights_json
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Cryptocurrency mining | N/A | — | — | — |
Datacenter hosting | N/A | — | — | — |
Power and capacity | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
The landmark agreement with NYSDEC on a five-year Title V Air Permit positions the company for long-term growth and validates Greenidge as a model datacenter and power generation operation.
The company is aggressively pursuing strategic opportunities to maximize value, including further restructuring of its October 2026 senior unsecured debt.
Greenidge's Dresden facility should serve as a national model for bitcoin mining operations, one which does not pull power from the grid, but rather sends power to it.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.