false
0001755953
0001755953
2024-07-09
2024-07-09
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 9, 2024
GRYPHON DIGITAL MINING, INC. |
(Exact name of registrant as specified in its charter) |
Delaware |
|
001-39096 |
|
83-2242651 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
1180 N. Town Center Drive, Suite 100, Las Vegas, NV |
|
89144 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (877) 646-3374
|
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $0.0001 per share |
|
GRYP |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure
On July 9, 2024, Gryphon Digital Mining, Inc.
(the “Company”) issued a press release announcing certain operational update for the month of June 2024 and the second quarter
ended June 30, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information provided in Item 7.01 of this
Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for
purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. Such information shall not be deemed
incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, whether made before or after the
date hereof, regardless of any general incorporation language in such filing, except as otherwise expressly set forth by specific reference
in such filing.
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits.
The following exhibits
are filed as part of this report:
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: July 9, 2024 |
GRYPHON DIGITAL MINING, INC. |
|
|
|
By: |
/s/ Robby Chang |
|
|
Name: |
Robby Chang |
|
|
Title: |
Chief Executive Officer |
2
Exhibit 99.1
![](https://www.sec.gov/Archives/edgar/data/1755953/000121390024059931/ex99-1_001.jpg)
Gryphon Digital Mining Announces Q2/24 Operational
Update
Record
Company Quarterly Hashrate as Mining Operations Grow 20% YoY; Considering
High Performance Computing in Growth Plans
Las Vegas, NV — July 9, 2024 -- Gryphon
Digital Mining, Inc. (Nasdaq: GRYP) (“Gryphon” or the “Company”), a bitcoin mining company
that is independently certified to be 100% renewable and pursuing a negative carbon strategy, has released its unaudited operational
update for June 2024 and Q2/24.
Key
highlights:
| ● | Set
a new company record in quarterly hashrate of 899 PH/s in Q2/24, a 20% increase over Q2/23 |
| | |
| ● | Record
monthly performance in energy efficiency at 28.5 joules per terahash (“J/T”)
in June |
| | |
| ● | Expect
to have produced approximately 84 bitcoin in the second quarter |
| | |
| ● | Projected
approximately $5.5 million in value based on an average quarterly bitcoin price of $65,916 |
| | |
| ● | Achieved
bitcoin efficiency of 25 BTC/EH for the month of June |
| | |
| ● | 99.4%
mining fleet average up time in June |
| | |
| ● | Qualified
for inclusion in the Russell Microcap Index, which was effective as of July 1st |
| | |
| ● | Scope
1 and Scope 21 operations continue to be 100% electrified by zero-carbon emitting
hydro power |
“The
second quarter of 2024 was significant for Gryphon as we achieved company records in hashrate and energy efficiency,” noted Rob
Chang, CEO of Gryphon. “While the company is only five months removed from debuting on the Nasdaq in February of this year, we
continue to set company records as we move forward as a public company.”
“We
expect to have earned bitcoin valued at approximately $5.5 million for the second quarter of the year, based on an average bitcoin price
of $65,916. This includes the production of approximately 22 bitcoin in the month of June at an average bitcoin price for the month of
$66,170,” continued Mr. Chang. “Gryphon continues to improve its efficiency levels by setting a new company record of 28.5
J/T for the month of June and combined with the realization of our inclusion in the prestigious Russell Microcap Index effective July
1st, we believe the Company is maintaining its upward trajectory in the bitcoin mining industry.”
Gryphon’s commitment to operating at peak efficiency
is underscored by its bitcoin efficiency performance of 25 BTC/EH in June. Since Gryphon commenced operations in September 2021, it has
consistently placed among the top of these publicly available bitcoin efficiency scores – ranking at or tied for first in 17 of
the last 33 months, or about 52% of the time. In the month of May, Gryphon’s BTC/EH performance of 24 placed it 3rd among
publicly disclosing miners.
The Company held approximately 16 bitcoin in its
treasury as of the end of June.
1 | Scope 1 emissions are direct emissions from owned or controlled
sources by the company, such as emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc. Scope 2 emissions
refer to indirect emissions from the generation of purchased electricity, steam, heating, and cooling consumed by the company. These
categorizations help organizations to strategically manage and report their greenhouse gas emissions. |
Growth Update:
The Company’s primary focus continues to
be on evaluating growth options. To date, we have reviewed over 20 different opportunities and have performed a substantial amount of
due diligence work that includes legal analysis and site visits. We are excited at the prospects and look forward towards moving forward
with opportunities that meet our strict selection criteria that focuses on accretion and have a meaningful impact.
The Company also notes that it is considering
the potential for High Performance Computing (“HPC”) operations in its growth plans and all
potential growth opportunities will also be evaluated for their HPC potential.
Conference
Schedule:
| ● | Bitcoin
2024 in Nashville, TN on July 25th – 27th |
| | |
| ● | Blockchain
Futurist Conference in Toronto, ON on August 13th – 14th |
| | |
| ● | H.C.
Wainwright 26th Annual Global Investment Conference in New York, NY on September 9th
– 11th |
| | |
| ● | Pacific
Bitcoin Festival in Los Angeles, CA on October 18th – 19th |
| | |
| ● | LD
Micro Main Event XVII in Los Angeles, CA on October 28th – 30th |
About
Gryphon Digital Mining
Gryphon
Digital Mining, Inc. is an innovative venture in the bitcoin space dedicated to helping bring digital assets onto the clean energy grid.
With a talented leadership team coming from globally recognized brands, Gryphon is assembling thought leaders to improve digital asset
network infrastructure. Its Bitcoin mining operation was recently independently certified as 100% carbon-neutral and the company is also
pursuing a carbon-negative strategy. More information is available on https://gryphondigitalmining.com/.
Cautionary Statements Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”). Statements that refer to projections, forecasts or other characterizations of
future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically
identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,”
“outlook,” “estimate,” “forecast,” “project,” “continue,” “could,”
“may,” “might,” “possible,” “potential,” “predict,” “should,”
“would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on management’s current
expectations and assumptions about future events and financial results and are based on currently available information as to the outcome
and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are
made. Except as otherwise required by applicable law, Gryphon disclaims any duty to update any forward-looking statements, all of which
are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Gryphon
cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict
and many of which are beyond the control of Gryphon. In addition, Gryphon cautions you that the forward-looking statements contained in
this press release are subject to the risks set forth in our filings with the Securities and Exchange Commission (the “SEC”),
including the section titled “Risk Factors” in the Annual Report on Form 10-K filed with the SEC by Gryphon on April 1, 2024.
INVESTOR CONTACT:
Name: James Carbonara
Company: Hayden IR
Phone: (646)-755-7412
Email: james@haydenir.com
v3.24.2
Cover
|
Jul. 09, 2024 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Jul. 09, 2024
|
Entity File Number |
001-39096
|
Entity Registrant Name |
GRYPHON DIGITAL MINING, INC.
|
Entity Central Index Key |
0001755953
|
Entity Tax Identification Number |
83-2242651
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
1180 N. Town Center Drive
|
Entity Address, Address Line Two |
Suite 100
|
Entity Address, City or Town |
Las Vegas
|
Entity Address, State or Province |
NV
|
Entity Address, Postal Zip Code |
89144
|
City Area Code |
877
|
Local Phone Number |
646-3374
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common Stock, par value $0.0001 per share
|
Trading Symbol |
GRYP
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 2 such as Street or Suite number
+ References
+ Details
Name: |
dei_EntityAddressAddressLine2 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14a -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Akerna (PK) (USOTC:KERNW)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Akerna (PK) (USOTC:KERNW)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024