Demetrios Vaiopoulos, a director at Gryphon Digital Mining, Inc. (NASDAQ:GRYP), recently acquired shares of the company, according to a recent SEC filing. On January 13, 2025, Vaiopoulos purchased 48,412 shares of common stock at a price of $0.39 per share, totaling approximately $18,880.
The transaction was carried out indirectly through Vayo Ventures Ltd., where Vaiopoulos holds a leadership position. Following this acquisition, his total indirect ownership stands at 48,412 shares. Additionally, Vaiopoulos holds 330,100 shares of Gryphon Digital Mining directly, which are issuable upon the settlement of Restricted Stock Units, subject to vesting conditions. With a market capitalization of $22.38 million, InvestingPro data reveals the company faces financial health challenges, with 10+ additional insights available to subscribers.
In other recent news, Gryphon Digital Mining raised $2.85 million in a stock sale aimed at funding significant expansion projects. These include the acquisition of a high-performance computing (HPC)/AI asset in Alberta and natural gas assets in British Columbia, which are expected to generate low-cost power for its digital mining and artificial intelligence infrastructure. Gryphon also reported mining 17.26439 bitcoins in November 2024, generating estimated revenues of $1,487,580.
Significant strides have been made in the company's operations, including a debt restructuring with Anchorage Digital, which reduced the company's outstanding debt by over 70%. However, financial metrics from InvestingPro indicate potential liquidity concerns, with a current ratio of 0.06. H.C. Wainwright, an analyst firm, maintains a neutral stance on Gryphon, despite these recent developments.
The company is currently dealing with a lawsuit filed by its former CEO, Robby Chang, but has been cleared of liability in a security breach incident involving Sphere 3D Corp. Gryphon continues to pursue a counterclaim against Sphere for alleged breaches of their Master Service Agreement, seeking approximately $45 million in damages. These are the recent developments from Gryphon Digital Mining.
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