Gryphon Digital Mining Hits New All-Time High in Self-Mining in March, Machine Upgrades Started

Gryphon Digital Mining, Inc. (Nasdaq: GRYP) said its performance achieved a bitcoin efficiency of 49 BTC/EH in its operational update for March.

That equals February’s self-mining outcome, when Gryphon’s score tied 2nd and when its peers who release information averaged 44 BTC/EH, it said.

Gryphon generated approximately 45 bitcoin coins while establishing a new company milestone for an average self-mining hashing power of 912 PH/s in March, it stated. The company held 59 bitcoin in treasury by March 31 and the average machine efficiency remained at 28.9 J/T, it added.

The company said it purchased a set of Bitmain S21 200 TH/s machines as part of its machine upgrade program. Furthermore, 100% of Scope 1 and Scope 2 of its operations are electrified by zero-carbon emitting Hydro power, it said.

“We are delighted to report the beginning of our miner upgrade program as we have purchased a batch of Bitmain S21 200 TH/s miners to replace a portion of our older fleet of machines,” said Rob Chang, Gryphon’s CEO. “Once fully deployed, this improvement is expected add approximately 23 PH/s to our hashing power and reduce our average fleet efficiency to 28.5 J/T. We expect these machines to be deployed within the next few weeks,” he declared.

In March, Gryphon became the first bitcoin miner to release detailed data on carbon emissions including two annual assessments from CarbonChain, a third-party platform.