Gryphon Digital Concludes Legal Dispute with Sphere 3D Corp.

Rhea-AI Summary

Gryphon Digital Mining (NASDAQ:GRYP) has announced the successful resolution of its legal dispute with Sphere 3D Corp through a settlement and release agreement. The settlement was reached on mutually acceptable terms, with no monetary payments required. The agreement fully resolves all pending litigation between the two companies and provides Gryphon with a complete release from any known, unknown, and unsuspected claims.

According to CEO Steve Gutterman, the company can now focus on executing its business strategy and pursuing opportunities to drive innovation and shareholder value in the bitcoin and AI space.

Positive

• Legal dispute resolved with no monetary payment required
• Elimination of pending litigation risks and associated costs
• Full release from all known and unknown claims

Negative

• None.

LAS VEGAS, NV / ACCESS Newswire / March 11, 2025 / Gryphon Digital Mining, Inc. (NASDAQ:GRYP) ("Gryphon" or the "Company"), an innovative venture in the bitcoin and AI space dedicated to helping bring digital assets to the market, entered into a settlement and release agreement (the "Settlement Agreement") with Sphere 3D Corp. ("Sphere") on mutually acceptable terms. No payments were made under the Settlement Agreement, which fully resolves all pending litigation between Gryphon and Sphere, and provides for a full release of Gryphon from any known or unknown and unsuspected claims.

Steve Gutterman, Chief Executive Officer of Gryphon, commented:

"We're pleased to put this matter behind us and move forward. Our focus now is on executing our business strategy and capitalizing on exciting opportunities to drive innovation and create value for our shareholders."

About Gryphon Digital Mining

Gryphon Digital Mining, Inc. is an innovative venture in the bitcoin and AI space dedicated to helping bring digital assets to the market. With a talented leadership team coming from globally recognized brands, Gryphon has assembled thought leaders to improve digital asset network infrastructure. More information is available on https://gryphondigitalmining.com/

Cautionary Statements Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the Company's business strategy; plans to expand the Company's business to include AI and high performance computing and opportunities in those areas; the future financial performance of the Company; changes in the Company's strategy and future operations; financial position; estimated revenues and losses; projected costs; prospects, plans and objectives of management; and future acquisition activity.

The forward-looking statements are based on management's current expectations and assumptions about future events and financial results and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. Except as otherwise required by applicable law, Gryphon disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Gryphon cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Gryphon. In addition, Gryphon cautions you that the forward-looking statements contained in this press release are subject to the risks set forth in our filings with the Securities and Exchange Commission (the "SEC"), including the section titled "Risk Factors" in the Annual Report on Form 10-K filed with the SEC by Gryphon on April 1, 2024, as updated by the Company's subsequent filings.

INVESTOR CONTACT:

Name: James Carbonara
Company: Hayden IR
Phone: (646)-755-7412
Email: james@haydenir.com

SOURCE: Gryphon Digital Mining, Inc.

View the original press release on ACCESS Newswire

FAQ

What are the terms of the settlement agreement between Gryphon Digital Mining (GRYP) and Sphere 3D?

The settlement was reached on mutually acceptable terms with no payments required, providing Gryphon with a full release from all known and unknown claims.

How does the legal settlement affect GRYP's business operations?

The settlement allows Gryphon to move forward and focus on executing its business strategy in bitcoin and AI, potentially creating more value for shareholders.

When did Gryphon Digital Mining (GRYP) announce the settlement with Sphere 3D?

The settlement was announced on March 11, 2025.

What is the financial impact of the settlement on GRYP shareholders?

The settlement requires no payments from either party, resulting in no direct financial impact on shareholders.