Home Bitcoin News Gryphon Digital Expands Bitcoin Mining Operations with $18.7M Canadian Acquisition

Gryphon Digital Expands Bitcoin Mining Operations with $18.7M Canadian Acquisition

Bitcoin Mining

Gryphon Digital Mining, a leading player in the Bitcoin mining industry, has made a major move to expand its operations with the acquisition of an $18.7 million industrial site in Southern Alberta, Canada. This deal, signed with Captus Energy, not only strengthens Gryphon’s presence in the crypto mining sector but also positions the company to tap into the growing artificial intelligence (AI) and high-performance computing (HPC) markets.

The 850-acre site, which will be powered by natural gas, is set to play a key role in Gryphon’s strategy to scale its infrastructure for both Bitcoin mining and AI data processing. According to Gryphon’s press release, the agreement is expected to close in April 2025, with the company paying Captus Energy $27 million CAD (roughly $18.7 million USD) for the site. This price includes $3 million CAD worth of four-year restricted shares, which will be awarded to Captus’ management team as part of the deal.

Strategic Location with Massive Scalability Potential

The newly acquired site in Southern Alberta offers a range of advantages that could significantly boost Gryphon Digital’s operations. It boasts dual natural gas supply, reliable grid connections, ample water resources, and rapid fiber connectivity. These key features are critical for supporting large-scale operations, such as Bitcoin mining and AI computing, which require consistent energy supply and high-performance infrastructure.

The site has the potential to scale up to 4 gigawatts (GW) of capacity, giving Gryphon substantial room to grow. Analysts predict that Gryphon could generate around $1.5 million in annual revenue per megawatt (MW) of capacity, though some estimates, such as those from VanEck research, suggest that AI and HPC-related revenue could reach up to $9.11 million per MW.

At full capacity, the site could generate over $5 billion in annual revenue for Gryphon, offering significant long-term growth potential. This acquisition marks a pivotal moment for the company as it seeks to diversify its operations beyond traditional Bitcoin mining and into more cutting-edge markets like AI infrastructure.

Transforming Gryphon’s Future Trajectory

Steve Gutterman, Chief Executive Officer of Gryphon Digital, described the acquisition as a “transformative moment” for the company. He noted that the combination of the site’s natural gas supply, on-site carbon sequestration capabilities, and abundant water access makes it one of the most attractive locations in North America for large-scale AI computing.

“Our focus is on large-scale computing infrastructure, and this acquisition gives us the ability to offer both Bitcoin mining and high-performance computing services in one location,” Gutterman said. “The synergy between these two areas gives us a significant competitive advantage moving forward.”

As part of the agreement, some of the Captus Energy team, including CEO Harry Andersen, will join Gryphon Digital, adding valuable expertise and experience to its growing operations.

Expanding Horizons with New Acquisitions

The Southern Alberta site is not Gryphon Digital’s only recent acquisition. In December 2024, the company also secured a natural gas-powered site in British Columbia with an initial 100 MW generation capacity. This site is scalable up to 1 GW, with a projected power cost of under $0.03 per kilowatt-hour (kWh), offering an extremely competitive energy cost for large-scale mining and data operations.

Together, these acquisitions significantly enhance Gryphon Digital’s ability to meet growing demand for both Bitcoin mining and AI services. With access to two major sites, Gryphon is positioning itself as a leader in the convergence of crypto mining and AI infrastructure—an increasingly lucrative space as demand for computing power continues to rise.

Looking Ahead: A Strong Future for Gryphon Digital

With the successful acquisition of the Southern Alberta site, Gryphon Digital is now well-positioned to capitalize on both the rapidly expanding Bitcoin mining industry and the high-performance computing market. As the company continues to scale its operations, its diversified strategy could make it a major player in both sectors.

The expected growth in Bitcoin mining, AI computing, and related technologies is poised to drive significant revenue for Gryphon in the coming years. If the company’s ambitious plans unfold as expected, it could be on track to become a major force in the energy-intensive mining and AI markets, tapping into new revenue streams and further solidifying its position as a leading digital infrastructure provider.

With these strategic investments and its expanding footprint, Gryphon Digital is setting itself up for long-term success in the evolving landscape of digital assets and high-performance computing.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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