Gryphon Digital Mining Expands Bitcoin Mining Fleet by 22% and Evaluates Creation of a Bitcoin Strategic Reserve Designed to Strengthen Balance Sheet
Gryphon Digital Mining (NASDAQ:GRYP) has announced a significant expansion of its bitcoin mining operations through the acquisition of 1,900 S19JPro series machines from RepairBit The purchase, secured at a 20% discount to market rates, will increase the company's mining fleet by approximately 22%, from 8,500 to 10,400 machines.
The company obtained the equipment with an extended warranty at favorable prices through its relationship with RepairBit. Additionally, Gryphon is evaluating the creation of a strategic bitcoin reserve to strengthen its balance sheet, aligning with its core initiatives of building out power assets through partnerships with Wildboy and Captus.
Gryphon Digital Mining (NASDAQ:GRYP) ha annunciato una significativa espansione delle sue operazioni di mining di bitcoin attraverso l'acquisizione di 1.900 macchine della serie S19JPro da RepairBit. L'acquisto, effettuato con uno sconto del 20% rispetto ai prezzi di mercato, aumenterà la flotta di mining dell'azienda di circa il 22%, passando da 8.500 a 10.400 macchine.
L'azienda ha ottenuto l'attrezzatura con una garanzia estesa a prezzi favorevoli grazie alla sua collaborazione con RepairBit. Inoltre, Gryphon sta valutando la creazione di una riserva strategica di bitcoin per rafforzare il proprio bilancio, allineandosi con le proprie iniziative principali di sviluppo di beni energetici attraverso partnership con Wildboy e Captus.
Gryphon Digital Mining (NASDAQ:GRYP) ha anunciado una expansión significativa de sus operaciones de minería de bitcoin a través de la adquisición de 1.900 máquinas de la serie S19JPro de RepairBit. La compra, asegurada con un descuento del 20% sobre los precios de mercado, aumentará la flota de minería de la empresa aproximadamente un 22%, pasando de 8.500 a 10.400 máquinas.
La empresa obtuvo el equipo con una garantía extendida a precios favorables gracias a su relación con RepairBit. Además, Gryphon está evaluando la creación de una reserva estratégica de bitcoin para fortalecer su balance, alineándose con sus iniciativas clave de desarrollo de activos energéticos a través de asociaciones con Wildboy y Captus.
그리폰 디지털 마이닝 (NASDAQ:GRYP)은 RepairBit로부터 S19JPro 시리즈 기계 1,900대를 인수하여 비트코인 채굴 운영을 대폭 확장한다고 발표했습니다. 이번 구매는 시장 가격보다 20% 저렴하게 확보되어 회사의 채굴 기계 수를 약 22% 늘려 8,500대에서 10,400대로 증가시킬 것입니다.
회사는 RepairBit과의 관계를 통해 유리한 가격으로 연장된 보증이 포함된 장비를 획득했습니다. 또한, 그리폰은 Wildboy 및 Captus와의 파트너십을 통해 에너지 자산을 확장하는 핵심 계획과 일치하여 전략적 비트코인 비축을 만드는 것을 검토하고 있습니다.
Gryphon Digital Mining (NASDAQ:GRYP) a annoncé une expansion significative de ses opérations de minage de bitcoin par l'acquisition de 1.900 machines de la série S19JPro auprès de RepairBit. L'achat, sécurisé à un rabais de 20 % par rapport aux prix du marché, augmentera la flotte de minage de l'entreprise d'environ 22 %, passant de 8.500 à 10.400 machines.
L'entreprise a obtenu l'équipement avec une garantie prolongée à des prix avantageux grâce à sa relation avec RepairBit. De plus, Gryphon évalue la création d'une réserve stratégique de bitcoin pour renforcer son bilant, s'alignant ainsi avec ses initiatives clés de développement d'actifs énergétiques par le biais de partenariats avec Wildboy et Captus.
Gryphon Digital Mining (NASDAQ:GRYP) hat eine bedeutende Erweiterung seiner Bitcoin-Mining-Operationen durch den Erwerb von 1.900 S19JPro-Maschinen von RepairBit angekündigt. Der Kauf, der mit einem Rabatt von 20% auf die Marktpreise gesichert wurde, wird die Mining-Flotte des Unternehmens um etwa 22% von 8.500 auf 10.400 Maschinen erhöhen.
Das Unternehmen hat die Ausrüstung zu günstigen Preisen mit einer erweiterten Garantie über seine Beziehung zu RepairBit erhalten. Darüber hinaus prüft Gryphon die Schaffung einer strategischen Bitcoin-Reserve, um die Bilanz zu stärken, was mit den Kerninitiativen zur Entwicklung von Energieanlagen durch Partnerschaften mit Wildboy und Captus übereinstimmt.
- 22% expansion of mining fleet capacity (from 8,500 to 10,400 machines)
- 20% below-market acquisition cost for new mining equipment
- Extended warranty included with new equipment purchase
- None.
Insights
The strategic acquisition of 1,900 S19JPro miners at a 20% discount represents a calculated expansion in Gryphon's operational capacity. This 22% fleet increase, bringing the total to 10,400 machines, is particularly noteworthy given its timing before the upcoming Bitcoin halving event. The S19JPro series is known for its superior hash rate efficiency, which will be important for maintaining profitability post-halving when mining rewards are reduced.
The below-market purchase price through RepairBit demonstrates strong vendor relationships and capital efficiency. The extended warranty inclusion mitigates maintenance risks and provides better visibility into long-term operational costs. This expansion aligns with Gryphon's dual strategy of securing advantageous power agreements while opportunistically scaling hardware infrastructure.
The contemplated Bitcoin strategic reserve represents a sophisticated financial strategy that could serve multiple purposes: 1) Act as a natural hedge against operational costs 2) Provide collateral for future financing 3) Create treasury management flexibility. However, this approach also introduces balance sheet volatility and requires careful consideration of custody solutions and risk management protocols.
The combination of fleet expansion and potential Bitcoin retention strategy positions Gryphon to potentially capture greater market share in the mining sector while building long-term financial resilience. The success of this strategy will largely depend on execution efficiency and market conditions post-halving.
LAS VEGAS, NV / ACCESS Newswire / January 27, 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, today announced the acquisition of 1,900 S19JPro series machines with an extended warranty from RepairBit LLC ("RepairBit") at a
This purchase will increase Gryphon's mining fleet by approximately
"This acquisition perfectly exemplifies our strategic approach - bold when transformative opportunities arrive, as with our power agreements with Wildboy and Captus, and scrappy when acquiring equipment and deploying capital," said Steve Gutterman, CEO of Gryphon Digital Mining. "Our developing relationship with RepairBit has enabled us to secure these machines at excellent, below-market prices."
Gryphon is also analyzing the creation of a strategic bitcoin reserve that could strengthen the Company's Balance Sheet. Said Gutterman, "We are dedicated to advancing our core strategic initiatives by building out our power assets. We believe that adding Bitcoin to our balance sheet, if done deliberatively and with the correct structure, could assist in that. We expect to make further announcements as we complete our evaluation."
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/
About RepairBit LLC
RepairBit is one of the largest repair and maintenance companies in North America, providing ASIC cleaning, processing, and chip-level repair as well as inventory and auditing solutions to large public and private miners. The RepairBit team consists of 90+ full-time employees (including 40+ lab technicians) and can process 30,000+ ASICs per month at its Ohio-based 60,000+ square foot facility. The RepairBit Lab is the largest lab of its kind in North America, and has certifications from MicroBT and Bitmain.
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 ability to use the new mining machines at the expected price and computing capacity, close the acquisition with Captus Energy and Ericsson; the total consideration for the acquisitions; the ability of the assets acquired or to be acquired to produce energy at both the cost and the volume anticipated; the results of diligence reviews; the engagement, and the results of such engagement, with regulatory bodies, First Nations, local stakeholders and norther communities; green initiatives; plans to expand the Company's business to include AI and high performance computing; the creation of a strategic Bitcoin reserve, the funding for such a reserve, the impact of such a reserve on the balance sheet of the Company, 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
How many new mining machines did Gryphon Digital Mining (GRYP) acquire in January 2024?
What is the total size of GRYP's mining fleet after the January 2024 expansion?
What discount did GRYP receive on their new mining equipment purchase?
What strategic initiative is GRYP evaluating regarding Bitcoin reserves?
