Gryphon Digital Stock Price, News & Analysis

Gryphon Digital Mining (NASDAQ:GRYP) has announced significant leadership changes. Steve Gutterman has been appointed as the new Chief Executive Officer, bringing nearly 30 years of experience in building and leading market-changing companies. Jimmy Vaipoulos joins as the new Chairman of the board of directors, bringing expertise from his roles at Stack Capital Group and Hut 8 Mining.

Gutterman, who previously served on Gryphon's Board and chaired its Audit Committee, has a track record of driving substantial revenue growth and leading numerous M&A transactions. He expressed excitement about Gryphon's potential for rapid growth, citing the company's world-class team, engaged shareholders, and efficient operations.

These changes aim to propel Gryphon forward in its mission to become a leader in low-cost, environmentally sustainable bitcoin mining operations.

Gryphon Digital Mining (NASDAQ:GRYP), a bitcoin mining company focusing on low-cost, efficient operations with an ESG focus, will present at the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9, 2024, at 11:00 AM ET at the Lotte New York Palace Hotel.

The presentation will be accessible via webcast, allowing remote participation. This conference, running from September 9-11, 2024, provides Gryphon an opportunity to showcase its operations and strategy to a global investment audience. Interested parties can access the webcast through the provided link or visit the conference website for more information.

Gryphon Digital Mining (Nasdaq: GRYP) released its unaudited operational update for August 2024, highlighting a transformational month with key developments:

1. Agreed to acquire up to 2.9 MW of operations with 59 PH/s of bitcoin mining machines and power costs averaging ~$0.01/kWh.

2. Achieved bitcoin efficiency of 22 BTC/EH, following a top-third result among peers in July.

3. Increased monthly average hashrate to 883 PH/s, up 8% year-over-year.

4. Improved energy efficiency to 28.5 J/T.

5. Expected to produce ~20 bitcoins, valued at ~$1.2 million.

6. Maintained 100% zero-carbon operations in the Northeastern U.S.

7. Welcomed back founding member Dan Tolhurst to the Board of Directors.

Gryphon Digital Mining, Inc. (Nasdaq:GRYP) has expanded its Board of Directors from five to six members, appointing Daniel Tolhurst as a Class I director. Tolhurst, a co-founder of Gryphon in October 2020, previously served as President and Board Member until February 2024. His term will expire at the Company's 2025 annual meeting of stockholders.

Tolhurst brings nearly two decades of experience in founding, leading, and investing in innovative companies across multiple sectors. His background includes leadership roles at Netflix Inc. and The Walt Disney Company. The appointment comes as Gryphon is actively pursuing accretive growth and acquisition opportunities.

Gryphon Digital Mining (NASDAQ:GRYP) has announced its first step in low-cost power pipeline plans, acquiring up to 2.9 MW of bitcoin mining operations with ultra-low-cost electricity at ~$0.01/kWh. Key highlights include:

1. Power purchase agreements with costs averaging around 1 cent per kilowatt hour
2. Currently running operations equipped with 59 PH/s of bitcoin mining machines
3. Potential to generate around $1M in annual revenue
4. Flexibility for bitcoin mining, high-performance computing, and machine hosting
5. Environmental benefits through the use of flare gas

The $1.5 million acquisition, funded by existing working capital, is expected to be immediately accretive. Gryphon continues to evaluate a pipeline of similar low-cost opportunities for potentially +500 MW, positioning itself as a leading low-cost operator in the post-halving environment.

Gryphon Digital Mining (Nasdaq:GRYP) reported Q2 2024 financial results, highlighting record quarterly hashrate of 899 PH/s, a 20% increase year-over-year. The company achieved a record monthly energy efficiency of 28.5 J/T in June. Total mining revenue was $5.5 million, up from $4.9 million in Q2 2023. The breakeven cost per Bitcoin rose to $45,452 from $34,063 in Q2 2023. Gryphon reported a net loss of $4.0 million, including $2.5 million in non-cash expenses. The company mined 84 Bitcoin in Q2 2024, down from 187 in Q2 2023. Gryphon is focusing on acquiring low-cost power for long-term sustainability and has authorized a $5 million stock repurchase program.

Gryphon Digital Mining (NASDAQ:GRYP), a bitcoin mining company certified as 100% renewable and pursuing a negative carbon strategy, has announced its Q2 2024 earnings conference call. The call is scheduled for Thursday, August 15, 2024, at 10:00 AM Eastern Time. Management will discuss results for the quarter ended June 30, 2024. Investors can join via phone using the toll-free number 877-545-0523 (US) or 973-528-0016 (International) with the participant access code 472122. A webcast will also be available. For those unable to attend, a replay will be accessible using the provided phone numbers and passcode 51063, or via the webcast replay link.

Gryphon Digital Mining (Nasdaq: GRYP) has released its unaudited operational update for July 2024, showcasing continued leadership in bitcoin efficiency and energy efficiency. Key highlights include:

• Bitcoin efficiency of 24 BTC/EH, following a second-place ranking among peers in June
• Monthly average hashrate of 871 PH/s, an 8% increase over July 2023
• Energy efficiency maintained at 28.6 J/T
• Expected production of approximately 21.4 bitcoins, valued at $1.34 million
• 100% renewable energy usage for Scope 1 and 2 operations

CEO Rob Chang emphasized the company's operational consistency and strong base for future growth. Gryphon is actively exploring growth opportunities, focusing on securing low-cost power for long-term viability in the bitcoin mining and high-performance computing space.

Gryphon Digital Mining, Inc. (NASDAQ:GRYP), a bitcoin mining company focused on renewable energy and negative carbon strategy, has announced that CFO Sim Salzman will be stepping down effective November 15, 2024. Salzman's departure is not related to any financial or accounting issues within the company. He will continue in his role through the filing of the 3rd Quarter 10-Q to ensure a smooth transition and meet upcoming filing deadlines.

CEO Rob Chang expressed gratitude for Salzman's contributions, particularly his role in taking the company public. Gryphon will initiate a search process for a successor and provide updates as appropriate. Salzman stated his confidence in the company's strategy and future prospects, committing to ensure a seamless transition.