Greenidge Boosts Tender Offer Price, Extends Deadline for Noteholders

Greenidge Generation Holdings Inc. (Nasdaq: GREE) has amended the terms of its concurrent tender and exchange offer for its 8.5% senior notes due 2026, raising the purchase price and extending the deadline to late September.

The vertically integrated cryptocurrency datacenter and power generation company said it will now pay $10.00 plus accrued interest for each $25.00 of principal tendered under the cash purchase option, while eliminating the previously announced early tender premium. The expiration date has been pushed to September 29, 2025.

As of the September 11 withdrawal deadline, Computershare Trust Company, the exchange agent, reported that $3.97 million of the $44.35 million outstanding notes had been validly tendered under the purchase option, with an additional $1,375 exchanged under the alternative exchange option. Holders who already tendered do not need to take further action to benefit from the revised terms.

The offer comes as Greenidge continues efforts to restructure its balance sheet amid volatility in the cryptocurrency mining sector, where high debt loads and power-intensive operations have pressured margins. Other U.S.-listed crypto miners have pursued similar debt repurchases or exchanges in recent years to reduce leverage and extend maturities.

Greenidge operates a hybrid model combining natural gas power generation with bitcoin mining, a strategy that has drawn both investor interest and environmental scrutiny. The outcome of this offer will be closely watched as an indicator of investor confidence in the company’s financial restructuring and its ability to navigate a capital-intensive business model.

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