Gryphon Digital Mining sees July production of 21.4 bitcoin

Gryphon Digital has released its unaudited operational update for July 2024. Key July highlights: Leading Bitcoin Efficiency: Achieved bitcoin efficiency of 24 BTC/EH for the month of July, following a second-place score among publicly disclosing peers in June; Improved Hashrate: Monthly average hashrate of 871 PH/s, an 8% increase over July 2023; Strong Energy Efficiency: Maintained leading energy efficiency at 28.6 joules per terahash; Bitcoin Production: Expect to have produced approximately 21.4 bitcoin; Projected approximately $1.34 million in value based on an average bitcoin price for the month of $62,805; Sustainable Operations: Scope 1 and Scope 2 operations continue to be 100% electrified by zero-carbon emitting hydro power. “July showcased Gryphon’s operational consistency as we have maintained robust production and efficiency levels over the past few months,” noted Rob Chang, CEO of Gryphon. “We are particularly proud of maintaining our energy efficiency level, which recently set a company record, and our bitcoin efficiency scores, which last month ranked second amongst our peers. We believe this sets a strong base as Gryphon transitions into its growth phase. Gryphon’s bitcoin efficiency performance of 24 BTC/EH in July underscores our commitment to operational excellence. In June, Gryphon’s score of 25 BTC/EH ranked second among 16 publicly disclosing peers, who averaged 22 BTC/EH. Since commencing operations in September 2021, Gryphon has ranked in the top quartile 76% of the time. We expect to have earned bitcoin valued at approximately $1.34 million for the month of July, based on an average bitcoin price of $62,805. This includes the production of approximately 21.4 bitcoin in the month.” The Company held approximately 21 bitcoin in its treasury as of the end of July.