Gryphon Digital acquires $18.7m site in Canada as part of its transformative strategy to expand its Bitcoin mining operations and AI infrastructure capabilities. This monumental deal includes the purchase of an 850-acre industrial site in Southern Alberta from Captus Energy for $18.7 million. The site is powered by dual natural gas supply, offering scalability up to 4 gigawatts in capacity, making it a strategic asset for Gryphon’s long-term growth.
The agreement between Gryphon Digital and Captus Energy, expected to finalize in April 2025, includes $2 million worth of restricted shares granted to Captus’ management team. If the deal falls through, the shares will be returned. This acquisition builds upon Gryphon’s recent expansion efforts, including its December 2024 acquisition of a natural gas-powered site in British Columbia.
The newly acquired site positions Gryphon Digital at the forefront of the Bitcoin mining industry by integrating AI and high-performance computing (HPC) technologies. According to analysts, the site has the potential to generate up to $5 billion annually at full capacity. This is due to the growing revenue opportunities in Bitcoin mining, AI, and HPC, which VanEck Research predicts could reach $9.11 million per megawatt.
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Steve Gutterman, CEO of Gryphon Digital, emphasized the importance of this acquisition, calling it a “transformative moment” for the company. He highlighted the unique features of the site, including carbon sequestration, abundant water resources, and a rapid fiber connection. These elements collectively make the site one of the most advanced facilities in North America for AI computing and Bitcoin mining.
The inclusion of Captus Energy’s leadership team in Gryphon Digital further strengthens the company’s capabilities. Harry Andersen, CEO of Captus Generation, will join Gryphon to support its operational and strategic goals.
This acquisition reflects Gryphon Digital’s ambition to scale its operations and leverage cutting-edge infrastructure for both Bitcoin mining and AI technology. With access to sustainable energy resources and a focus on cost efficiency, Gryphon is set to reshape the future of blockchain-powered innovation.
