Greenidge Generation Holdings Inc-A 2025年季度报告

ORoTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transion period from _____________________ to _____________________Commission File Number:001-40808________________________________ Greenidge Generaon Holdings Inc. ________________________________Delaware incorporaon or organizaon)Idenficaon No.)1159 Pisford-Victor Road,Suite 240Pisford,New York14534 Registrant’s telephone number, including area code: (315)536-2359Securies registered pursuant to Secon 12(b) of the Act: Class A Common Stock, $0.0001 par valueGREEThe Nasdaq Global Select Market8.50% Senior Notes due 2026GREELThe Nasdaq Global Select MarketIndicate by check mark whether the registrant (1) hasfiled all reports required to befiled by Secon 13 or 15(d) of the Securies Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required tofile such reports), and (2) has been subject to suchfiling requirements for the past 90 days.Yes xNooIndicate by check mark whether the registrant has submied electronically every Interacve Data File required to be submied pursuant to Rule405 of Regulaon S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuchfiles).Yes xNoo Indicate by check mark whether the registrant is a large acceleratedfiler, an acceleratedfiler, a non-acceleratedfiler, smaller reporng company,or an emerging growth company. See the definions of “large acceleratedfiler,” “acceleratedfiler,” “smaller reporng company,” and “emerging growth If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transion period for complying withany new or revisedfinancial accounng standards provided pursuant to Secon 13(a) of the Exchange Act.o As of May12, 2025, the registrant had12,705,321shares of Class A common stock, $0.0001 par value per share, outstanding and2,733,394shares of Class B common stock, $0.0001 par value per share, outstanding. FINANCIAL INFORMATIONFinancial Statements Condensed Consolidated Statements of Operaons and Comprehensive Loss (Unaudited)Condensed Consolidated Statements of Stockholders’ Deficit (Unaudited)Condensed Consolidated Statements of Cash Flows (Unaudited)Notes to Condensed Consolidated Financial Statements (Unaudited) Management’s Discussion and Analysis of Financial Condion and Results of OperaonsQuantave and Qualitave Disclosures About Market Risk OTHER INFORMATIONLegal Proceedings Risk FactorsUnregistered Sales of Equity Securies and Use of ProceedsDefaults Upon Senior Securies 1 This Quarterly Report on Form 10-Q includes certain statements that may constute “forward-looking statements” within the meaning ofSecon 27A of the Securies Act of 1933, as amended (the “Securies Act”), and Secon 21E of the Securies Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical fact are forward-looking statements for purposes offederal and state securies laws. These forward-looking statements involve uncertaines that could significantly affect ourfinancial oroperang results. These forward-looking statements may be idenfied by terms such as “ancipate,” “believe,” “connue,” “foresee,”“expect,” “intend,” “plan,” “may,” “will,” “would” “could” and “should” and the negave of these terms or other similar expressions.Forward-looking statements are based on current beliefs and assumpons that are subject to risks and uncertaines and are notguarantees of future performance. Forward-looking statements in this document include, among other things, statements regarding ourbusiness plan, business strategy and operaons in the future. In addion, all statements that address operang performance and futureperformance, events or developments that are expected or ancipated to occur in the future, including statements relang to creang consider Greenidge's forward-looking statements in light of those risks.2 In the opinion of Greenidge management, the accompanying condensed consolidatedfinancial statements include all adjustments necessary for a fair presentaon of the results for the interim periods presented and such adjustments are of a normal recurring nature.The results for the unaudited interim condensed consolidated statements of operaons are not necessarily indicave of results to beexpected for the year ending December31, 2025 or for any future interim period. The unaudited interim condensed consolidatedfinancial statements do not include all of the informaon and notes required by United States Generally Accepted Accounng Principlesfor completefinancial statements.The accompanying condensed consolidatedfinancial statements should be read in conjuncon with the notes to the consolidatedfinancial statements of the Company in its 2024 Annual Report on Form 10-K. challenging bitcoin mining economics beginni