Gryphon Digital Mining (GRYP) Announces 6.3M Share Offering at $0.40/sh

Gryphon Digital Mining, Inc. (Nasdaq: GRYP) ("Gryphon" or the "Company"), an innovative venture in the bitcoin and AI space dedicated to helping bring digital assets to the market, today announced that it has signed a non-brokered offering of its common stock for total gross proceeds of approximately $2.85 million on January 13, 2025. The offering saw 100% participation from the management team and a majority of the board members, demonstrating strong internal confidence in the Company's strategic direction.

The Company issued third-party investors approximately 6.3 million shares of its common stock at a purchase price of $0.40 per share, with accompanying warrants exercisable at $1.50 per share. Management and Board purchased approximately 629,000 shares at $0.516 per share, with accompanying warrants exercisable at $1.50 per share.

This offering represents an initial step toward funding Gryphon's recently announced significant expansion projects, including:

• A definitive agreement for an HPC/AI asset in Alberta scalable to 4GW, announced January 10, 2025
• A definitive agreement for natural gas assets in British Columbia for low-cost power scalable to 1GW, announced December 10, 2024

"The full participation of our management team and strong support from our board in this offering underscores our collective confidence in Gryphon's strategic initiatives and growth potential," said Steve Gutterman, CEO of Gryphon Digital Mining. "This initial capital raise was structured to maximize shareholder value while minimizing dilution as we begin executing on our transformational projects. We are taking a methodical approach to our capital formation strategy, carefully balancing growth opportunities with shareholder interests. This is just the first step as we pursue our significant HPC/AI and bitcoin mining opportunities and look to strengthen our balance sheet through cash and bitcoin. We will update our shareholders as we advance our strategic funding initiatives and project developments in the most value-accretive manner possible."

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