Greenidge Generation Holdings Says On Nov 23, Facility Of Co's Unit In Dresden, NY Experienced Switchgear Failure And Fire; Company Expects To Resume Operations In Next Few Weeks; No Material Damage To Bitcoin Miners At Facility

On November 23, 2025, the Dresden, NY power generation facility (the "Facility") owned by Greenidge Generation LLC, a wholly owned subsidiary of Greenidge Generation Holdings Inc. (the "Company"), experienced an electrical switchgear failure and resulting fire (such event, the "Incident") that was contained and mandated the immediate and complete de-energization of the Facility pursuant to automated safety protocols. The Company, in coordination with its utility partners, fire marshal and specialist electrical contractors, is actively investigating the Incident and developing a repair and restoration plan to end the outage and minimize its effects. Preliminary assessments indicate that the Incident has caused no material damage to the Company's owned or hosted bitcoin miners located at the Facility. The Company expects to resume normal operations over the course of the next few weeks, however, it is presently unable to provide a definitive timeline for restoration of partial or full service to the Facility.