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International Business Times
International Business Times
Business
Marvie Basilan

Gryphon Digital Acquires Ultra Low-Cost Power Mining Operations, Cementing Competitive Edge

Mining Bitcoin Gryphon Digital Mining
Gryphon Digital Mining is an independently certified 100% renewable Bitcoin mining company. (Credit: Gryphon Mining Twitter Video/Screenshot)

KEY POINTS

  • Gryphon Digital's acquisition come with fully equipped assets, including gas power generators
  • The low-cost power acquisition is expected to generate around $1 million in annual revenue
  • Gryphon's Rob Chang believes the latest move will help the miner lead as a low-cost operator with a competitive advantage

Bitcoin miner Gryphon Digital Mining on Tuesday announced entering into an agreement to acquire up to 2.9 MW (megawatts) of $BTC mining operations powered by ultra-low-cost electricity in the $0.01/kWh range, marking the first step in its low-cost power pipeline plans.

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