Gryphon Digital Mining Acquires Low-Cost Bitcoin Mining Operations at $0.01/kWh

Gryphon Digital Mining, Inc. (NASDAQ: GRYP) has taken a large measurement successful lowering its powerfulness costs by acquiring Bitcoin mining operations successful Louisiana that leverage ultra low-cost energy astatine astir $0.01 per kilowatt hr (kWh). 

Gryphon Acquires Ultra Low-Cost Power Mining Operations astatine ~$0.01/kWh.

Key highlights include:

• Ultra-low outgo of ~ 1 cent per kWh
• Identified a pipeline of 500 MW of akin opportunities
• Immediately accretive operating plus that is already generating currency flow

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This $1.5 cardinal acquisition, which includes up to 2.9 megawatts (MW) of operational capableness and 59 PH/s of Bitcoin mining equipment, comes afloat equipped with assets, including state powerfulness generators and containers, and is expected to make astir $1 cardinal successful yearly revenue, according to the announcement.

"We judge that this acquisition of ultra low-cost powerfulness is our archetypal measurement on an identified way of implicit 500 MW of akin low-cost powerfulness procreation opportunities," said Gryphon CEO Rob Chang. "The existent station halving satellite is requiring bitcoin miners to unafraid low-cost powerfulness successful bid to thrive successful an expanding planetary hashrate environment. With the acquisition of this ~1 cent powerfulness plus and aboriginal powerfulness procreation assets with akin costs, we judge Gryphon volition heighten its presumption arsenic a starring low-cost relation with a competitory vantage successful a cardinal outgo facet of the bitcoin mining business."

Gryphon reinforced that it is committed to reducing c emissions by utilizing flare state successful its operations. Flare gas, a byproduct of lipid extraction that is often burned disconnected and released into the atmosphere, is repurposed by Gryphon arsenic an vigor root for Bitcoin mining. By converting this different wasted state into productive energy, Gryphon not lone powers its mining operations but besides mitigates biology interaction by lowering the c emissions that would person been generated done flaring.

"We are peculiarly excited astir the opportunities ultra low-cost powerfulness tin spend us," further stated Chang. "We expect that low-cost powerfulness volition let for the anticipation of greater margins utilizing authorities of the creation mining instrumentality oregon enabling instrumentality connected concern connected cheaper machines that are not economically viable astatine higher outgo operations. Other possibilities see hosting services oregon providing precocious show computing operations."