Green-oriented mining company Gryphon Digital Mining will go public

June 4, 2021

Green-oriented mining company Gryphon Digital Mining will go public

Gryphon Digital Mining, a mining company focused entirely on renewable energy, will go public via a reverse merger with data management provider Sphere 3D.

Gryphon Digital Mining @GryphonMining, our 100% renewable, ESG-committed #Bitcoin miner, reached a merger agreement to go public on the @Nasdaq! Proud to lead the charge in building sustainable digital asset infrastructure for the future of this industry!

— ₿rittany Kaiser #OwnYourData (@OwnYourDataNow) June 3, 2021

Under the terms of the deal, Sphere 3D will issue 111m shares to the mining company's shareholders. They will receive a 77% stake in the combined firm, which will take the name of the buyer, Gryphon Digital Mining. It was valued at $184.3 million, based on the closing price of $1.66 shares of Sphere 3D as of June 3.

The transaction is expected to close in the third quarter after receiving shareholder and regulatory approval.

As a reminder, mining company Greenidge Generation will completely neutralise the carbon footprint of bitcoin mining by buying CO2 credits from 1 June.

In May, Marathon Digital Holdings announced the construction of a 300MW data centre in Texas. The new facility is planned to be 70% carbon neutral.

Find out our professional review on bitcoin profit platform.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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