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|8-KFeb 5, 9:20 AM ET

Gemini Space Station, Inc. 8-K

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Gemini Space Station Announces Wind-Down of Europe & Australia Ops

What Happened
Gemini Space Station, Inc. announced on February 4, 2026 that it approved a plan to exit and wind down operations in the United Kingdom, the European Union and other European jurisdictions, and Australia as part of a cost-reduction initiative to support the company’s path to profitability. The company will continue operating in the United States and Singapore. The plan may include a reduction in force of up to 200 employees (about 25% of global headcount as of Feb 4, 2026) and is expected to be substantially completed in the first half of 2026, subject to local law and consultation requirements. Gemini expects to incur approximately $11 million of pre-tax restructuring and related charges, substantially all cash, and to recognize most of these charges in the first quarter of 2026. On February 5, 2026, co-founders Cameron and Tyler Winklevoss discussed the plan in a company blog post (filed as Exhibit 99.1).

Key Details

  • Plan approved: February 4, 2026; public communication by co-founders on blog dated February 5, 2026.
  • Workforce impact: up to 200 global employees (~25% of total workforce).
  • Financial impact: estimated pre-tax restructuring and related charges of ~$11 million, substantially all expected to be cash expenditures.
  • Timing: company expects to recognize substantially all charges in Q1 2026; plan substantially completed in H1 2026, subject to local laws and consultations.

Why It Matters
This is a material restructuring that will generate a near-term cash expense (estimated ~$11M) but is intended to reduce ongoing operating costs and support Gemini’s path to profitability. Investors should note the one-time charge timing (primarily Q1 2026) and the reduction in global footprint, which could affect revenue mix in affected regions while lowering future operating expenses. The estimates are subject to change based on local legal/consultation processes and other unforeseen factors. The company is using its investor website, blog and social channels for Regulation FD disclosures.