Gryphon Digital Mining Sets New Efficiency Records with $2.6M in Bitcoin Production During April
Portfolio Pulse from Benzinga Newsdesk
Gryphon Digital Mining, Inc. (NASDAQ:GRYP) reported a record-breaking April 2024 with $2.6M in Bitcoin production, achieving new efficiency milestones. The company, known for its 100% renewable energy mining, produced 40 bitcoins at an average price of $66,183 each. It set new records with an average self-mining hashing power of 914 PH/s and improved machine efficiency to 28.7 J/T, thanks to the installation of Bitmain S21 200 TH/s machines. Gryphon also maintained its top-ranking position in bitcoin efficiency, holding 21 bitcoins in treasury by month-end.
May 06, 2024 | 11:39 am
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Gryphon Digital Mining's record-breaking April with $2.6M in Bitcoin production and significant efficiency improvements positions the company for positive investor sentiment. The upgrade to Bitmain S21 machines and the company's sustained leadership in bitcoin efficiency underscore its operational excellence and commitment to sustainability.
Gryphon's operational update for April 2024, showcasing significant achievements in Bitcoin production and efficiency, directly impacts investor perception positively. The company's focus on renewable energy and technological upgrades, such as the Bitmain S21 machines, not only enhances its operational efficiency but also aligns with growing investor interest in sustainable and profitable mining operations. These factors, combined with Gryphon's consistent top-ranking in bitcoin efficiency, suggest a positive short-term impact on GRYP's stock price.
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