# Gryphon Released May 2022 BitCoin Mining Update With Great Result. Live Trading News is an independent financial media publication. Masthead: Live Trading News. Parent: Knightsbridge Group. Product cousin: KXCO (kxco.ai). Coverage: markets, policy, AI, quantum, blockchain, FX, biotech, ASEAN. New stories are signed ML-DSA-65 and anchored on Armature L1; articles published before the platform launch are not signed. Nothing on the site is investment advice. Canonical HTML: https://www.livetradingnews.com/gryphon-released-may-2022-bitcoin-mining-update-with-great-result Last modified: 2022-06-10 --- By Avery Smith · 2022-06-10 Tags: Shayne Heffernan on Investments, mining, digital, rate, Bitcoin, blockchain, Crypto, crypto, cryptocurrency, Bitcoin, ethereum, hash, DeFi, Mining, Blockchain, metaverse, web3, Gryphon Signed: no (published before platform launch). Nothing in this article is investment advice. ***Record monthly production with top tier mining efficiency*** #Crypto #Cryptocurrency #Blockchain #Metaverse #DeFi #Web3 #Bitcoin #Ethereum #Gryphon #Digital #Mining #Hash #Rate **Gryphon Digital Mining, Inc.** a leading net carbon neutral bitcoin miner has positively reported its May operational update. Set the production rate approximately 61 bitcoin-equivalent coin mined within May 2022. With top bitcoin efficiency of 132 BTC/EH for May 2022. and 468 PH/s on average hashing power. Resulting an impressed by sheer mining performances. **Mining Operations** For the month of May, Gryphon mined approximately 61 bitcoin-equivalent coins from its self-mining operations on average hashing power of 468 PH/s for the month combined with its bitcoin-equivalent generated fees from the Company's 22.5% net operating profit interest from a Master Services Agreement with a third party. This translates into top-tier bitcoin efficiency of 132 BTC/EH relative to the recent peer average of 121 BTC/EH for April 2022. Month over month, the number of coins mined increased by approximately 10% from the 56 bitcoin-equivalent coins mined by the Company in April 2022 as additional machines were placed online. Average hashing power by the Company increased by 14% for the month and is expected to continue to grow as additional shipments from Bitmain are received and deployed. Gryphon's bitcoin efficiency for May declined by 3% month over month as a 5% monthly increase in total global network hashrate drove down efficiency for all miners. ***"We are delighted to report a record setting month of production at Gryphon while remaining a market leader in bitcoin efficiency,"*** noted CEO and Director, Rob Chang. ***"As the industry matures, operational execution will be a key area of focus for analysts and this remains a key area of focus for our team".*** Corporate Update Gryphon is pleased to announce that it has secured approximately $28 million in non-dilutive, low-cost debt. The Company is using a portion of the proceeds to retire higher cost convertible notes with the balance to be used to fund strategic initiatives that it may explore as a result of the current bitcoin price environment. Gryphon continues to operate machines for a third party under a Master Services Agreement pursuant to which it has a 22.5% net operating profit interest in exchange for the management of the third party's blockchain-related businesses.  The Company expects this to translate into an effective interest of up to 1.35 EH/s of hashing power by the end of 2022. Combined with Gryphon's expected 0.72 EH/s self-mining operation by the end of 2022, the Company expects to have total attributable hashing power of up to 2.1 EH/s by the end of the year. **About Gryphon Digital Mining ** Gryphon Digital Mining, Inc. is an innovative venture in the cryptocurrency space dedicated to helping bring digital assets onto the clean energy grid. With a talented leadership team coming from globally recognized brands, Gryphon Digital is assembling thought leaders to improve digital asset network infrastructure. Its Bitcoin mining operation has a net carbon-negative strategy. Bitcoin Efficiency is a measure of the number of bitcoin generated per exahash of hashing power deployed. https://twitter.com/cazenove_uk/status/1530292108103409664?s=20&t=fYkMY3QKLuyBcFMKvqBNqg Check the Hash-rate here at: [https://www.blockchain.com/charts/hash-rate](https://c212.net/c/link/?t=0&l=en&o=3562278-1&h=2589537233&u=https%3A%2F%2Fwww.blockchain.com%2Fcharts%2Fhash-rate&a=https%3A%2F%2Fwww.blockchain.com%2Fcharts%2Fhash-rate) More information is available on [https://gryphondigitalmining.com/](https://www.prnewswire.com/news-releases/www.gryphondigitalmining.com) and their [Twitter](https://twitter.com/GryphonMining) SOURCE Gryphon Digital Mining --- This Markdown mirrors https://www.livetradingnews.com/gryphon-released-may-2022-bitcoin-mining-update-with-great-result. The HTML page is canonical. Site index for AI clients: https://www.livetradingnews.com/llms.txt