Gryphon Digital Mining, a leading net carbon neutral bitcoin miner, has released its operational update for March 2023. Despite challenges in the mining industry, Gryphon achieved impressive results during the month. They produced approximately 71 bitcoin-equivalent coins and achieved a top two-level bitcoin efficiency of 94 BTC/EH, outperforming their peers.
Gryphon also set a new record for average self-mining hashing power, reaching 750 PH/s. This increase in hashing power was supported by the addition of new mining machines. Despite power curtailments in February, Gryphon was able to increase their mining activity by 8% in March.
For the quarter, Gryphon produced approximately 221 bitcoin-equivalent coins and maintained their position as the leader in bitcoin efficiency for two out of the three months. Their average self-mining hashing power for the quarter was 685 PH/s, indicative of their commitment to growth and innovation in the industry.
Excitingly, Gryphon expects their attributable hashrate to increase significantly by the end of May. Their royalty stream partner has announced plans to ramp up to 1.5 exahash, which will contribute to Gryphon’s total attributable hashrate of 1.1 EH/s. This increase in hashrate will further solidify Gryphon’s position in the market and drive profitability.
In addition to their operational achievements, Gryphon continues to make progress on their merger with Akerna Corp. The merger will create a leading, ESG-committed, carbon-neutral bitcoin miner. The parties are working diligently to prepare the required filings for the merger with the U.S. Securities and Exchange Commission and NASDAQ.
Overall, Gryphon Digital Mining has demonstrated strong operational performance in the first quarter of 2023. Investors can follow Gryphon’s progress by visiting their website and staying updated on Twitter. Gryphon is an innovative venture dedicated to bringing digital assets onto the clean energy grid, making them a compelling investment opportunity in the net carbon neutral bitcoin mining industry.