Greenidge Secures 100 MW Datacenter Power, Reports Q4 Revenue of $11.5 M
Greenidge secured 100 MW of non-curtailable datacenter power—60 MW at Dresden, 40 MW in Mississippi by Q1 2027—initiated a 200 MW grid study and sold South Carolina property for $18 million. It reported Q4 revenue of $11.5 million and net income of $1.9–2.9 million, reduced senior debt from $157.5 million to $39 million and recorded full-year net income of $4.2–5.2 million.
1. Financial Results
Greenidge posted preliminary Q4 2025 revenue of $11.5 million with net income of $1.9–2.9 million and EBITDA of $4.5–5.5 million, while full-year net income rose to $4.2–5.2 million and adjusted free cash flow loss narrowed to $2.3 million.
2. Capacity and Growth Prospects
The company secured 60 MW of non-curtailable power at its Dresden facility, 40 MW at a Mississippi site by Q1 2027, and initiated a NYISO study for an additional 200 MW. Active operations now deliver 2.8 EH/s capacity across 111.5 MW of power generation and hosting.
3. Debt Reduction and Asset Sales
Greenidge reduced senior unsecured debt due October 2026 to $36.7 million and total debt from $157.5 million to $39 million through tender offers and open-market repurchases, and sold its South Carolina property for $18 million in cash with up to $18 million of potential earnouts.
4. Regulatory and Environmental Updates
A five-year Title V air permit modification was secured for the Dresden facility, ending litigation and aligning emissions with state climate targets. Coal combustion residual testing in C-Pond extends closure deadlines to October 2027 pending regulatory approval.