Demetrios Vaiopoulos, CEO of Gryphon Digital, Inc. (NASDAQ:GRYP), recently acquired shares of the company, according to a recent filing with the SEC. On January 13, 2025, Vaiopoulos purchased 48,412 shares of common stock at a price of $0.39 per share, for a total of approximately $18,880.
The transaction was conducted indirectly through Vayo Ventures Ltd., where Vaiopoulos holds a leading position. After this acquisition, his total indirect ownership amounts to 48,412 shares. In addition, Vaiopoulos directly holds 330,100 shares of Gryphon Digital Mining, 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’s financial health challenges, with more than 10 additional insights available to subscribers.
In other recent news, Gryphon Digital Mining has raised $2.85 million in a stock sale to fund significant expansion projects. These include the acquisition of high-performance computing (HPC)/AI assets in Alberta and assets in British Columbia, which are expected to generate low-cost power for digital mining and AI infrastructure. Gryphon also reported mining 17.26439 bitcoins in November 2024, generating an estimated revenue of $1,487,580.
Significant advances were made in the company’s operations, including a debt restructuring with Anchorage Digital, which reduced the company’s outstanding debt by more than 70%. However, InvestingPro’s financial metrics indicate potential liquidity issues, with a current ratio of 0.06. HC 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 file a counterclaim against Sphere for alleged violations of their Master Service Agreement, seeking approximately $45 million in damages. These are the latest developments from Gryphon Digital Mining.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
