Gryphon Digital Mining obtained a 850-acre industrial website powered by pure fuel in Southern Alberta, Canada from a signed settlement with Captus Power for $18.7 million.
In accordance with Gryphon Digital’s press launch, the Bitcoin (BTC) mining agency plans to make use of the not too long ago acquired asset to additional develop on its AI and high-performance computing information middle infrastructure. Gryphon’s cope with Captus is anticipated to shut earlier than or a while in April 2025.
Based mostly on the settlement, Gryphon Digital pays Captus $27 million CAD or equal to $18.7 million, which already contains $3 million CAD ($2 million) value of four-year-long restricted shares given to the incoming Captus administration group. If the deal doesn’t shut, then the Captus group should return the restricted shares.
The 850 acre industrial website has the potential to scale as much as 4 gigawatts in capability and grants Gryphon entry to twin pure fuel provide, grid connection, water sources, in addition to speedy fiber connection suppliers.
Analysts conclude Gryphon might stand to achieve $1.5 million in annual income per megawatt, although VanEck’s analysis believes Bitcoin mining income associated to AI and HPC might 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, said that the acquisition of Captus Power’s asset marks a transformative second for Gryphon because it hopes to develop its attain into the AI and HPC infrastructure market.
“The mixture of twin pure fuel provide, on-site carbon sequestration and considerable water entry makes it one of many few places in North America with all of the crucial parts wanted for large-scale AI computing,” stated Gutterman.
He added a part of the Captus Power group, led by Chief Government Officer of Captus Technology Harry Andersen, will likely be becoming a member of the Gryphon beneath the signed settlement.
“We imagine that the Captus acquisition, when mixed with our current British Columbia acquisition and the additions to our group, essentially rework Gryphon’s trajectory and potential scale,” he stated.
In December, Gryphon additionally acquired a pure fuel website 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 might sit beneath $0.03 per kWh.
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