Gryphon Digital Mining acquired a 850-acre industrial web site powered by pure fuel in Southern Alberta, Canada from a signed settlement with Captus Power for $18.7 million.
In keeping with Gryphon Digital’s press launch, the Bitcoin (BTC) mining agency plans to make use of the lately acquired asset to additional increase on its AI and high-performance computing knowledge heart infrastructure. Gryphon’s take care of 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 consists of $3 million CAD ($2 million) price of four-year-long restricted shares given to the incoming Captus administration workforce. If the deal doesn’t shut, then the Captus workforce should 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 fuel provide, grid connection, water assets, in addition to speedy fiber connection suppliers.
Analysts conclude Gryphon might stand to realize $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 Govt 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 increase its attain into the AI and HPC infrastructure market.
“The mix of twin pure fuel provide, on-site carbon sequestration and ample water entry makes it one of many few places in North America with all of the important parts wanted for large-scale AI computing,” mentioned Gutterman.
He added a part of the Captus Power workforce, led by Chief Govt Officer of Captus Era Harry Andersen, shall be becoming a member of the Gryphon below the signed settlement.
“We consider that the Captus acquisition, when mixed with our latest British Columbia acquisition and the additions to our workforce, essentially rework Gryphon’s trajectory and potential scale,” he mentioned.
In December, Gryphon additionally acquired a pure fuel web site in British Columbia with an preliminary 100 MW technology capability and scalability of as much as 1 GW. The projected energy price associated to the location might sit under $0.03 per kWh.
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