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Gryphon Digital Is Mining Carbon Neutral Bitcoin

March 11, 2024
x min read

Gryphon Digital is doing something new: mining Bitcoin that’s carbon neutral.

What’s happening:

  • Gryphon Digital Mining (NASDAQ: GRYP) has announced an all time high in their self mining hashing power throughout their operations in February

By the numbers:

  • In February, Gryphon produced 45 Bitcoin from their own mining operations
  • Gryphon also earned 7 Bitcoin through an existing royalty agreement
  • Based on an average Bitcoin price of $49,875 for the month of February, Gryphon earned approximately $2.6M USD in revenue

Why it matters:

  • Gryphon Digital Mining is one of the only Bitcoin mining companies in the world to be independently certified as being completely carbon neutral in their operations

Going deeper:

  • One of the longstanding criticisms of Bitcoin mining has been the energy consumption required to power Bitcoin mining hardware, which is now starting to change due to leveraging renewable power sources and Bitcoin mining companies making operational changes to significantly lower their emissions
  • Aside from being carbon neutral, Gryphon has also consistently been one of the most efficient Bitcoin mining companies based on Bitcoin production per exa hash since commencing their operations

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