Greenidge Generation finalizes note exchange settlement

On April 9, 2026, Greenidge Generation Holdings Inc.

(GREE) announced the results of an exchange offer for its 8.50% Senior Notes due 2026.

This move was a strategic effort to address the company's looming debt wall, as substantial senior debt is set to mature later this year.

However, the results were modest: only $1.44 million out of $36.66 million in principal was exchanged, leaving the vast majority of the debt unchanged.

FINRA denied the request to list the new notes on the OTC market, meaning there may be no liquid market for these securities.

The company has publicly acknowledged 'substantial doubt' regarding its ability to continue as a going concern, as its current cash flow is insufficient to meet short-term obligations.

While Greenidge has pursued asset sales and restructuring attempts, this recent, largely unsuccessful exchange highlights the steep challenges ahead in managing its heavy debt burden.