Atlas Capital Grabs Nearly Quarter of Greenidge Shares via Stock Payments

Greenidge Generation Holdings has disclosed that Atlas Capital now owns nearly a quarter of its shares after the latest interest payment in stock. The company issued 114,199 new Class A shares to Atlas on July 6, valued at $161,820 under an existing Equity Interest Payment Agreement. This brings Atlas's stake to 23.1%, with 4,185,381 Class A and convertible Class B shares.

The Atlas-Greenidge relationship dates back to 2014 when Atlas Holdings acquired an idled coal plant in Dresden, New York, converting it to natural gas and adding Bitcoin mining operations around 2020. The company went public in 2021 through a merger with Support.com, with its core identity revolving around on-site power generation and crypto mining.

Greenidge reported $20.8 million in revenue for Q1 2026, with the bulk coming from power and capacity sales rather than crypto mining. This shift towards natural gas plant acting as a grid resource suggests the company's most reliable revenue stream is no longer its mining rigs.