Gryphon Becomes First Miner to Publish its ESG data, leading the industry in transparency and environmental responsibility
LAS VEGAS, NV / ACCESSWIRE / March 25, 2024 / Gryphon Digital Mining, Inc. (Nasdaq:GRYP) ("Gryphon" or the "Company") is taking a bold step in ESG leadership by publishing its carbon emissions data publicly. Today's release of the full report (available here), which includes two annual carbon emissions assessments undertaken by CarbonChain, is the first time a bitcoin mining company has provided a granular accounting of its company's carbon footprint. Gryphon uses CarbonChain for third-party measurement annually, and recently proved that it is using 100% renewable energy. Gryphon believes that transparency is what will drive the industry forward for achievement of climate goals and responsible corporate decision making.
As previously reported, in fiscal year 2023, Gryphon used over 98% renewable energy, and started 2024 with 100% renewable operations ahead of its merger and listing on Nasdaq. This news followed Gryphon's receipt in 2023 of the Sustainable Bitcoin certification by Energy Web, an independent non-profit that develops open-source software for clean energy solutions. This certification known as Green Proofs for Bitcoin ("GP4BTC"), is a first-of-its kind initiative to establish an independent, standardized energy measurement system for the Bitcoin mining industry and represents over two years of collaborative work between Gryphon, Energy Web, and some of the world's largest asset managers and clean energy research organizations.
Releasing the data upon which the Sustainable Bitcoin Certification was awarded to Gryphon is intended to open the door for further transparency and climate accounting initiatives in the bitcoin mining and wider crypto industry. This report provides interesting details about ways that companies can become less impactful on the environment such as choosing greener air freight or shipping options. Gryphon's management believes that the press and legislators too often comment on energy usage alone, without recognizing that other sources of carbon emissions should be counted and become a part of an overall carbon footprint strategy.
"Championing transparency is a core value of bitcoin and blockchain technology, and something that should be standard for digital asset companies as bitcoin achieves global adoption. Showing by doing has always been the best way to counter false claims about bitcoin mining's negative impact. If we want support from legislators and the press, the industry needs to step up and use decentralized technologies to transparently prove and verify data on chain - the way it was intended," said Brittany Kaiser, Chair of the Board of Gryphon Digital Mining.
"Gryphon's ambition to exclusively use renewable energy is now publicly accounted for, and we hope their approach is adopted more widely as all eyes are on bitcoin companies as the industry booms," said Adam Hearne, CEO of CarbonChain.
To learn more about Gryphon, please visit https://gryphondigitalmining.com/.
About Gryphon Digital Mining
Gryphon Digital Mining, Inc. is an innovative venture in the bitcoin space dedicated to helping bring digital assets onto the clean energy grid. With a talented leadership team coming from globally recognized brands, Gryphon is assembling thought leaders to improve digital asset network infrastructure. Its Bitcoin mining operation has a net carbon-negative strategy. More information is available on https://gryphondigitalmining.com/.
Cautionary Statements Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. Except as otherwise required by applicable law, Gryphon disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Gryphon cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Gryphon. In addition, Gryphon cautions you that the forward-looking statements contained in this press release are subject to the risks set forth in our filings with the Securities and Exchange Commission (the "SEC"), including the section titled "Risk Factors" in the Registration Statement on Form S-4 filed with the SEC by Gryphon on January 8, 2024.
INVESTOR CONTACT:
Name: James Carbonara
Company: Hayden IR
Phone: (646)-755-7412
Email: james@haydenir.com
SOURCE: Gryphon Digital Mining, Inc.
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