Bitcoin ( BTC-USD ) miner Greenidge Generation ( NASDAQ: GREE ) said Tuesday it's restructuring an ~$11M promissory note owed to investment bank B. Riley ( NASDAQ: RILY ) . Greenidge ( GREE ), which has struggled to meet its debt obligations due to a combination of last year's crypto slump and rising energy costs, has agreed to raise $1M in a common stock offering -- underwritten by B. Riley ( RILY ) -- at a price of $0.75 per share. To pay down the note balance, the miner will make a $1.9M principal payment to B. Riley ( RILY ), with no further principal or interest payments due on the note until June. Greenidge ( GREE ) is also actively pursuing the sale of excess real estate from its mining facility in South Carolina, of which the net proceeds will go towards repaying a portion of the note. If GREE repays a principal amount exceeding $6M before June 20, its monthly loan payment starting in June would be reduced to around $400K from the currently scheduled monthly amortization payments of $1.5M. The debt restructuring comes after the miner on Dec. 20, 2022, tentatively agreed to restructure $74.7M worth of debt in a deal with its lender NYDIG. Since then, GREE has reduced the debt to NYDIG to $17M through the transfer of 2.8 exahashes per second of mining machines to the lender with certain credits and coupons. GREE said it could cut the debt to NYDIG by $10M more "contingent upon Greenidge facilitating for NYDIG the rights to a mining site within three months," it said. In October 2022, Greenidge named David Anderson as the company's new CEO.