Gryphon Digital Mining Achieves New Milestones in Bitcoin Mining Efficiency and Power

On May 6, 2024, Gryphon Digital Mining, Inc., a NASDAQ-listed company recognized for its commitment to renewable energy and carbon-negative strategies, revealed notable improvements in its bitcoin mining operations for April. The company, which aligns its operations with 100% renewable energy sources, primarily hydroelectric power, completed significant machine upgrades this past month. These upgrades included the installation of Bitmain S21 200 TH/s machines, leading to a record average self-mining hashing power of 914 PH/s.

In terms of financial performance, Gryphon Digital Mining produced approximately 40 bitcoins in April 2024, valued at approximately $2.6 million, with an average production rate of 1.33 BTC per day. This was aided by a particularly strong bitcoin mining transaction fee market. The company's mining efficiency also reached new heights with an average of 43 BTC/EH, a significant achievement emphasizing Gryphon's efficient use of energy in bitcoin production. Furthermore, the company held 21 bitcoins in its treasury by the end of April, utilized strategically to support non-dilutive financing for its fleet upgrades.

Gryphon Digital Mining is also engaged actively in the sector's community with a full conference schedule including notable events such as Consensus 2024 and Bitcoin 2024. These engagements underscore its ongoing commitment to leadership within the digital asset and renewable energy sectors.