- Main event involves a facility sale and financial strategy shift.
- The sale excludes operational mining rigs and warehouses.
- Transaction completion slated for September 2025, enhancing liquidity.
Greenidge Generation Holdings Inc. has sold its Columbus, Mississippi Bitcoin mining facility for $3.9 million to LM Funding Americaโs affiliate. The transaction aims to improve Greenidgeโs liquidity after financial pressures, excluding operational mining rigs and a large warehouse.
Greenidge Generation Holdings Inc. has finalized a $3.9 million sale of its Columbus, Mississippi Bitcoin mining facility to an affiliate of LM Funding America. The transaction aims to boost liquidity amid financial strains.
Greenidgeโs Sale and Financial Realignment
The purchaser paid a refundable $195,000 deposit; the remaining balance of $3.705 million is due at closing, expected no later than September 16, 2025. A due diligence period lasting until five business days before closing permits the purchaser to terminate the transaction and recover the deposit.The Mississippi facilityโs transaction excludes all active Bitcoin miners and a 73,000 sq ft warehouse. Greenidge aims to enhance liquidity as part of its strategic financial realignment. The sale does not directly affect Bitcoin markets or on-chain activities, as it concerns physical infrastructure divestment. Information about the sale can be further explored in the Greenidge sells Mississippi Bitcoin facility for $3.9 million to improve liquidity filing.
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