Bitcoin Miner Greenidge Generation Offers Additional $35M in Bonds

Bitcoin mining company Greenidge Generation Holdings (GREE) plans to sell $35 million in senior notes, due in October 2026, according to a new filing.

• The issuance comes after the company raised $55.2 million in senior notes with similar terms on Oct. 13.
• The new $35 million notes will bear 8.5% interest accruing from Oct. 13, and are a “further issuance” to Greenidge’s $55.2 million raise.
• “We intend to use the net proceeds from this offering for general corporate purposes, including funding capital expenditures, future acquisitions, investments and working capital and repaying indebtedness,” the miner said in the filing.
• On Nov. 8, fellow crypto miner Argo Blockchain said it plans to raise up to $57.5 million in senior notes, due November 2026, with an interest rate of 8.75%.