Gryphon Digital Mining Buys Over 7K Bitcoin Miners for $48M
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Gryphon Digital Mining, a bitcoin (EXANTE: Bitcoin) mining operation company focused on renewable energy, has announced a merger agreement with Sphere 3D to buy 7,200 Antminer S19j Pro miners from Bitmain for a total of $48 million. According to a press release, Bitmain plans to supply 600 ASICs every month starting from August this year.

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The new miner boasts a maximum hash rate of 100 TH/s combined, with an industry-leading energy efficiency ratio of 29.5 J/TH, and an expected life cycle of over five years, the company said.

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Gryphon also signed an agreement with one of the largest digital currency data centers in the world to access electricity costs as low as $0.013/kWh. However, it remains unclear who is the counterparty of the deal. Earlier, Gryphon Digital Mining announced plans to gain public status through a reverse merger with data management provider Sphere 3D.

As iHodl reported in April, The9, a Shanghai-based online game operator, also announced plans to buy 2,000 units of AvalonMiners with a total hash rate of approximately 100PH/S. To buy the rigs, the company issued over 8 million Class A ordinary shares, which prior to signing of the agreement valued the deal at $6.72 million.

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