Greenidge Generation(GREE) - 2025 Q4 - Annual Results

Financial Performance - Total revenue for Q4 2025 was $11.5 million, a decrease of $3.7 million from Q3 2025[6] - Net income for Q4 2025 ranged from $1.9 million to $2.9 million, down from a reduction of $10.1 million to $9.1 million in Q3 2025[6] - EBITDA for Q4 2025 was between $4.5 million and $5.5 million, a decrease of $10.5 million to $9.5 million from Q3 2025[6] - Full year 2025 total revenue was $58.8 million, a reduction of $0.8 million from FY 2024[6] - Net income from operations for the year ended December 31, 2025, is projected to be between $4.0 million and $5.0 million[15] - Adjusted EBITDA for the year ended December 31, 2025, is expected to range from $(3.1) million to $(2.1) million[15] Cryptocurrency Operations - Cryptocurrency mining revenue for Q4 2025 was $2.6 million, a reduction of $1.6 million from Q3 2025[6] - The company produced a total of 53 Bitcoins in Q4 2025, a decrease of 42 from Q3 2025[6] - Revenue from digital assets production for the three months ended December 31, 2025, is reported at $2.6 million, with a total of $15.2 million for the twelve months ended December 31, 2025[16] Cash Flow and Debt Management - Adjusted Free Cash Flow loss for FY 2025 was $2.3 million, an improvement of $12.1 million from FY 2024[10] - Greenidge ended Q4 2025 with $19.6 million in cash and $6.5 million in Bitcoin[8] - Net cash flow from operating activities for the three months ended December 31, 2025, is $(4.6) million, compared to $0.1 million for the previous quarter[16] - Total debt as of December 31, 2025, is projected to be $39.0 million after debt repurchases[16] - Net debt after accounting for cash and digital assets is expected to be $12.9 million[16] - The company incurred a loss on the sale of assets amounting to $(11.9) million for the year ended December 31, 2025[15] - Interest expense for the year ended December 31, 2025, is estimated at $4.0 million[15] - The company plans to continue its debt restructuring efforts through public tender/exchange offers and open market debt repurchases[16] Power and Infrastructure - Greenidge secured a total of 100MW of future power for datacenters, including 60MW at the Dresden facility and 40MW at a greenfield site in Mississippi[2]