On November 23, 2025, a fire broke out at the Greenidge Generation LLC power facility in Dresden, New York, which also hosts Bitcoin mining operations, including rigs owned by NYDIG. The incident, triggered by an electrical switchgear failure, led to an immediate and complete shutdown of the facility, halting all power generation and Bitcoin mining activities.

Automated safety protocols activated upon the fire's detection, ensuring the safety of the facility and personnel. Preliminary assessments indicate that the fire caused no material damage to the company's owned or hosted Bitcoin miners. The company is working with utility partners, fire marshals, and specialist electrical contractors to investigate the incident and develop a repair plan to restore the facility.

Greenidge Generation expects to resume normal operations in the coming weeks but cannot provide a definitive timeline for the restoration of partial or full service. The uncertainty surrounding the timeline is a concern for investors, as prolonged downtime can lead to unexpected capital expenditures and extended revenue loss.

The Dresden facility is critical to Greenidge Generation's core operations as a vertically integrated Bitcoin miner and power generation company. The operational halt immediately impacts both revenue streams. The company's stock is publicly traded, with its class of common stock trading under the ticker symbol GRE.

This incident occurs amidst ongoing scrutiny of cryptocurrency mining operations and their environmental impact. Greenidge has faced opposition from environmental and citizen groups concerned about greenhouse gas emissions and potential harm to the Finger Lakes region's agritourism economy. In the past, the company has been in disputes with state regulators regarding air permit renewals and compliance with greenhouse gas emission limits.