Gryphon Digital Mining Reports Strong Q3 2024 Earnings with Increased Hash Rate

Q3 2024 earnings. We are pleased to report a strong quarter with significant progress in our operations. Our focus on sustainable and efficient mining practices continues to drive our growth and profitability.

During this quarter, Gryphon Digital Mining achieved a notable increase in its hash rate capacity, reflecting our commitment to expanding our operations. This expansion is supported by the successful deployment of new mining equipment and the optimization of existing infrastructure.

Our financial performance this quarter highlights our strategic initiatives. We have managed to maintain a robust balance sheet, ensuring financial stability and flexibility to seize future growth opportunities.

Looking ahead, Gryphon Digital Mining remains dedicated to enhancing its mining efficiency and exploring innovative technologies to further reduce our environmental impact. We are optimistic about the future and confident in our ability to deliver value to our shareholders.

Sim Salzman will now provide a detailed financial overview of our third-quarter results.

Sim Salzman

Thank you, Steve. In the third quarter of 2024, Gryphon Digital Mining reported revenue growth driven by increased mining output and favorable market conditions. Our cost management strategies have resulted in improved margins, reflecting our operational efficiency.

Our balance sheet remains strong, with adequate liquidity to support our strategic initiatives. We continue to focus on cost-effective operations while exploring new opportunities for growth.

We appreciate the continued support of our investors and stakeholders as we advance our mission of sustainable digital mining.

Thank you, and we will now open the floor for questions from our analysts.