US EditionGryphon Digital Mining Reports Fourth Quarter and FY 2024 Financial Results
- Gryphon Digital Mining, an innovative venture in the bitcoin, HPC and AI space, reported its financial results for the quarter and year ended December 31, 2024.
- The company underwent a series of transformative steps, including strengthening its leadership team and balance sheet, to improve its financial position and strategic focus on closing the Captus Energy Acquisition, a 4GW HPC/AI asset in Alberta.
- Key improvements in Q4 2024 included a debt reduction of over 70%, a non-brokered $2.85 million offering with 100% management and majority board participation, and an increase in average trading volume from approximately 249,000 to 874,000 shares per day.
- In the fourth quarter of 2024, Gryphon Digital Mining had mining revenues of $3.845 million, mined approximately 61 Bitcoin, and achieved net income of $0.4 million, with a Breakeven Cost per Bitcoin of $75,872.
- Gryphon Digital Mining exited 2024 in a stronger financial position, with increased cash and cash equivalents, improved shareholder equity, and reduced liabilities, positioning the company to deliver exceptional value to shareholders and focus on the Captus Energy Acquisition.
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