Gryphon Digital to acquire up to 2.9 MW of low-cost power mining operations

Gryphon has entered into an agreement to acquire up to 2.9 MW of bitcoin mining operations powered by ultra low-cost electricity in the $0.01/kWh range. The operations are located in Louisiana and come fully equipped with assets, including gas power generators, containers, and 59 PH/s of bitcoin miners. At a cost of $1.5 million that can be funded by existing working capital, the acquisition is expected to be immediately accretive as it will generate free cash flow on day one. Key highlights: Ultra low-cost power: Power purchase agreements with per kilowatt hour costs averaging around ~1 cent Operating asset: Up to 2.9 megawatts of currently running operations equipped with 59 PH/s of bitcoin mining machines Immediately Accretive: Depending on usage, management believes that these low-cost power assets can generate around $1M in annual revenue Flexibility: Low-cost power is expected to provide the Company with flexibility to take advantage of different opportunities that include bitcoin mining, high performance computing, and machine hosting. Environmental Stewardship: The use of flare gas provides for lower carbon emissions through the use of a waste product that would have otherwise been flared into carbon emissions. +500 MW power pipeline: Gryphon continues to evaluate a pipeline of similar low-cost opportunities for potentially +500 MW.