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US-based Gryphon Completed Purchase Of 7,200 Bitcoin Mining Rigs From Bitmain

By Tracy Hannes | July 12, 2021
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Gryphon Digital Mining has reportedly finalized the acquisition of 7,200 Antminer S19J Pro mining rigs, from top-tier China-based Bitcoin (BTC) mining machines manufacturer Bitmain. 

Specifically, the end-to-end outlay regarding the mining inventory reportedly accumulated to approximately $48 million. Beginning August this year, Bitmain will kickstart the shipping of 600 mining rigs to Gryphon on a monthly basis, as included within the scope of the agreement. 

The Antminer S19J Pro is reportedly the most recent iteration of Bitmain’s Bitcoin mining hardware, scheduled to roll out across the market in summer 2021. 

Every rig will reportedly have the power to generate 100 terahashes per second (TH/s) hash rate, with an energy efficiency ratio of 29.5 joules per terahash. 

The total 7,200 of these machines ordered will reportedly, in theory, help Gryphon’s hashing power jump up with a factor of 720 petahash per second (PH/s).

Being able to hit the 720 PH/s benchmark – 0.72 exahashes per second – for hashing power will reportedly earn Gryphon a spot in the top 15 list for Bitcoin mining entities, hash rate distribution-wise, per insights from BTC.com. A significant milestone such as this could be an additional achievement for the American Bitcoin miner, since it has a target of achieving 100% renewable energy-based operations.

In June this year, Brittany Kaiser, chair of the board of directors at Gryphon, reportedly shared that Gryphon will be having its ESG rating when mining hardware is made available in August.

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