Gryphon Digital Mining Launches Stock Repurchase Program and Completes Machine Upgrades Early

Gryphon Digital Mining, Inc., a prominent company in the bitcoin mining sector, announced a new stock repurchase program and the early completion of its machine upgrade program. The company's Board of Directors has approved the repurchase of up to $5 million of its common stock. This initiative reflects Gryphon's commitment to enhancing shareholder value and its confidence in the company’s strategic direction.

CEO Rob Chang expressed pride in Gryphon’s operational achievements and cost efficiency in bitcoin production. The buyback program is expected to bolster long-term shareholder value, emphasizing prudent capital management. Unlike typical industry practices of share sales, Gryphon aims to demonstrate balanced share capital management.

The completion of the miner upgrade program ahead of its planned schedule marks another significant achievement for Gryphon. The deployment of the new Bitmain S21 200 TH/s miners is set to enhance the company’s operational efficiency substantially, increasing its hashing power and improving fleet efficiency.

The announced initiatives are part of Gryphon’s broader strategy to maintain its leadership in efficient and cost-effective bitcoin mining, leveraging technology to optimize its operations.