Gryphon Digital Mining obtained a 850-acre industrial web site powered by pure gasoline in Southern Alberta, Canada from a signed settlement with Captus Power for $18.7 million.
In line with Gryphon Digital’s press launch, the Bitcoin (BTC) mining agency plans to make use of the lately acquired asset to additional broaden on its AI and high-performance computing knowledge middle infrastructure. Gryphon’s take care of Captus is anticipated to shut earlier than or a while in April 2025.
Primarily based on the settlement, Gryphon Digital pays Captus $27 million CAD or equal to $18.7 million, which already consists of $3 million CAD ($2 million) value of four-year-long restricted shares given to the incoming Captus administration staff. If the deal doesn’t shut, then the Captus staff must return the restricted shares.
The 850 acre industrial web site has the potential to scale as much as 4 gigawatts in capability and grants Gryphon entry to twin pure gasoline provide, grid connection, water assets, in addition to fast fiber connection suppliers.
Analysts conclude Gryphon may stand to achieve $1.5 million in annual income per megawatt, although VanEck’s analysis believes Bitcoin mining income associated to AI and HPC may attain as much as $9.11 million per MW. At full capability, the asset has the potential to generate over $5 billion of annual income for Gryphon.
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Chief Government Officer of Gryphon Digital, Steve Gutterman, acknowledged that the acquisition of Captus Power’s asset marks a transformative second for Gryphon because it hopes to broaden its attain into the AI and HPC infrastructure market.
“The mixture of twin pure gasoline provide, on-site carbon sequestration and considerable water entry makes it one of many few places in North America with all of the essential parts wanted for large-scale AI computing,” stated Gutterman.
He added a part of the Captus Power staff, led by Chief Government Officer of Captus Technology Harry Andersen, will likely be becoming a member of the Gryphon below the signed settlement.
“We consider that the Captus acquisition, when mixed with our current British Columbia acquisition and the additions to our staff, essentially remodel Gryphon’s trajectory and potential scale,” he stated.
In December, Gryphon additionally acquired a pure gasoline web site in British Columbia with an preliminary 100 MW era capability and scalability of as much as 1 GW. The projected energy value associated to the location may sit under $0.03 per kWh.
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