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Gryphon Digital Mining Is Doubling Down After The Bitcoin Halving

April 22, 2024
x min read

The Bitcoin halving is here. And Gryphon Digital Mining is getting ready to ramp up their operations.

What’s happening:

  • Gryphon Digital Mining (NASDAQ:GRYP) has announced they have successfully completed a hardware upgrade for their Bitcoin mining operations to optimize for energy efficiency now that the Bitcoin halving is complete

Why it matters:

  • The block rewards for Bitcoin miners decrease after each Bitcoin halving, which accelerate the need for miners to have leading edge hardware and energy efficiency to power their operations in order to maintain profitability

By the numbers:

  • Gryphon Digital Mining has been successfully mining Bitcoin at a breakeven cost of $18,2000 USD per Bitcoin
  • Gryphon’s batch of Bitmain S21 200 miners is now deployed, which is expected to add approximately 23 PH/s to their hashing power

Going deeper:

  • Gryphon Digital is also the first publicly traded Bitcoin mining company to publish completely transparent data about their emissions and have their operations be certified as carbon neutral
  • The Bitcoin halving has also led to hardware manufacturers developing new types of Bitcoin mining rigs that are optimized for more efficient energy usage and scaleability in data centre level operations

The intrigue:

  • Gryphon Digital Mining has also announced that they company has approved a share buy back program, enabling the company to purchase $5 million of their own publicly traded common stock

Disclaimer

The New Money provides background information on early stage companies from publicly available sources. The New Money provides no advice on dealing in securities, is not a financial adviser and does not pretend to be so. This message is meant for information and educational purposes only. The information contained in this email is not to be considered factual or complete. Anybody interested in obtaining financial and other information on companies mentioned is advised to get it direct from the companies, or from their own investment adviser. The New Money does not intend for this information to be used to inform an investment decision. The New Money has been compensated by Gryphon Digital Mining for a media campaign, which affects our ability to be unbiased. The Principals of The New Money may buy or sell shares of Gryphon Digital Mining without further notice. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities. The New Money and its principals and agents are not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Always do your own research and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment. Investing is inherently risky. While a potential for rewards exists, by investing, you are putting yourself at risk. You must be aware of the risks and be willing to accept them in order to invest in any type of security. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy or Sell securities. No representation is being made that any stock trade will or is likely to achieve profits. Comparisons made to other featured companies or past performance is not indicative of future results.

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