Bitcoin mining company Gryphon spent $18.7 million to acquire land for the natural gas industry in Canada
Jan 14, 2025 12:00:09
Nasdaq-listed Bitcoin mining company Gryphon announced that its stock price rose 20% on Friday after acquiring an 850-acre industrial site powered by natural gas from Canadian oil and gas company Captus Generation for $18.7 million.
According to the acquisition agreement, Gryphon will pay Captus's parent company BTG Energy CAD 24 million (approximately USD 17 million) in cash and issue CAD 3 million in restricted stock to the new management team.
In addition, Gryphon recently acquired the bankrupt assets of Canadian power company Erikson National Energy for CAD 2 million, including natural gas and oil wells and facilities located in northeastern British Columbia.