Dimitrios Vaiopoulos, Director of Gryphon Digital, Inc. (NASDAQ:GRYP), recently acquired shares of the company, according to a recent Securities and Exchange Commission filing. On January 13, 2025, Vaiopoulos purchased 48,412 shares of common stock at a price of $0.39 per share, for a total consideration of approximately $18,880.
The transaction was executed indirectly through Vayo Ventures Ltd, where Vayopoulos holds a leadership position. After this acquisition, his total indirect ownership amounts to 48,412 shares. In addition, Vaiopoulos owns 330,100 shares of Gryphon Digital Mining directly, which are issuable upon settlement of restricted stock units, subject to vesting terms. With a market value of $22.38 million InvestingPro The data reveals the company is facing financial challenges, with more than 10 additional insights available to subscribers.
In other recent news, Gryphon Digital Mining raised $2.85 million in a stock sale aimed at funding major 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 17,26,439 Bitcoins in November 2024, generating an estimated revenue 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 more than 70%. However, financial metrics from InvestingPro point to potential liquidity concerns, with a current ratio of 0.06. HC Wainwright, an analyst firm, maintains a neutral stance on Gryphon, despite these latest developments.
The company is currently dealing with a lawsuit brought by its former CEO, Robbie Zhang, but was acquitted of liability in a security breach incident involving Sphere 3D Corp. Gryphon continues to pursue a counterclaim against Sphere for alleged violations of their Master Service Agreement. It is seeking approximately $45 million in damages. These are the latest developments from Gryphon Digital Mining.
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