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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


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