Clear energy-focused bitcoin miner Gryphon Digital touted its operational effectivity and stability sheet flexibility in its June replace.
“With the current decline within the value of bitcoin (BTC), we’ve noticed some firms within the house displaying indicators of misery as optimistic and over-aggressive plans change into challenged,” Gryphon mentioned in an announcement Monday.
Paying attention to its “low-cost, money move optimistic operations” and simply $28 million in secured debt, the corporate mentioned it is “positioned itself to have the ability to make the most of alternatives.”
Gryphon additional famous {that a} lately obtained mortgage was each borrowed and payable in bitcoin, eradicating any dollar-denominated value threat.
The corporate mentioned it mined 71 bitcoin in June, up about 15% from 62 the earlier month. June’s efficiency, mentioned Gryphon, translated right into a bitcoin effectivity ranking of 129 bitcoin per exahash (BTC/EH) versus the trade common (for many who make these figures public) of 107 BTC/EH.
In April, the corporate and Sphere 3D Corp. terminated a deal for Gryphon to go public by way of a SPAC.
Learn extra: Bear Market Might See Some Crypto Miners Turning to M&A for Survival
