Gryphon Release Operational Update For December as it Goes Public

Gryphon Digital Mining, a Bitcoin (BTC) miner who plans on going public with the acquisition of Nasdaq cannabis-compliant company Akerna Corp has now published an operational update. Amongst many other feats which were listed in the published document, the company announced that it successfully mined 71 bitcoin-equivalent coins in December. 

The leading net carbon-neutral bitcoin miner’s self-mining operations yielded 71 BTC-equivalent coins in December, all at an average hashing of 625 PH/s indicating a 13% month-over-month decrease. This was a result of a surge in electricity prices induced by unfavorable weather conditions during the Christmas holiday which led to seven days of full or partial curtailment.

“Despite this, Gryphon’s bitcoin efficiency for December increased by 7% from November and remained tied as the top performing operation for the month,” as per the published statement.

Gryphon Digital Mining holds a 22.5% net operating profit interest royalty with a third party, whose reported hashing power is around 0.37 EH/s. Eventually, its December performance amounted to a bitcoin efficiency rating of 114 BTC/EH. Noteworthy, such results positioned the BTC miner amongst top-ranking companies that have been able to achieve an average efficiency of  98 BTC/EH.

The 71 BTC-equivalent coins mined show a 6% month-over-month decrease from the 76 coins mined in November. 

Gryphon Plans to Acquire Akerna Corps

Only last week had Gryphon announced plans to purchase Akerna Corp., the enterprise software company which will later sell its software business to POSaBIT systems corporation, a payment infrastructure in the cannabis industry. Once the deal pulls through, the company will be renamed Gryphon and its headquarters will be situated in Las Vegas, Nevada.

Gryphon’s Chief Executive Officer (CEO) Rob Chang will assume the position of CEO of the new publicly listed company. Akerna Corp’s CEO Jessica Billingsley will seat on the board of directors with six other executives designated by Gryphon. Akerna’s shareholders are entitled to only 7.5% of the publicly traded entity while Gryphon gets 92.5%.

Gryphon had initially tried to go public through a reverse merger with Sphere 3D in 2021 but the agreement was discontinued due to some regulatory approval issues.

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