BitOne Capital | June 2021 - Page 15 of 16

Coin	Price	Marketcap	Volume (24h)	Last 24h
Bitcoin BTC	$ 39,820.25	$ 730.04 B	$ 82.04 B

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, -2.95%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, -3.59%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, +2.52%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, +1.28%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, +0.12%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, +0.73%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, 0%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

Gryphon Digital Mining, a privately held company focused on mining bitcoin (BTC, -3.69%) using 100% renewable energy, is going public through a reverse merger with Nasdaq-listed Sphere 3D, a data management company.

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.
In recent trading, shares of Sphere are down 6.32% to $1.66 a piece. Based on the current price, the merger is valued at $184.3 million.
Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.
Closing of the deal, which needs shareholder and regulatory approval, is slated for Q3.

Most Useful
June 3, 2021

The rally in bitcoin (BTC) over the past year may be nearing an end, according to New York-based MRB Partners, a boutique investment research firm.

In a May 25 report titled, “Has The Crypto Fever Broken?“, the analysts cite growing concerns with cryptocurrencies’ environmental impact, possible regulatory risks, negative technical trends and a future reduction in monetary stimulus as among the many reasons bitcoin could have a tough time ahead.

“Easy money has helped fuel the crypto bubble, and a slow unwinding of this trend globally will ultimately become a headwind for the speculative digital asset,” wrote MRB.

Bitcoin has nearly doubled in price over the past year and is up about 30% year to date. The world’s largest cryptocurrency by market value suffered a volatile period in May, which appears to be stabilizing over the short term. However, some analysts expect limited upside in bitcoin despite the possibility of a brief bounce.

MRB mentioned concerns about environmental issue, leverage and renewed fears of a global regulatory crackdown in the U.S. and China as possible headwinds for cryptocurrencies.
To reduce the negative environmental impact, “crypto mining systems would need to allow miners to produce tokens for significantly less cost compared to their current price,” wrote MRB.
Increased mining efficiency could lead to lower energy consumption, which typically occurs during corrections in the price of bitcoin, according to MRB.
Moreover, overleveraging has also become a mainstream issue for crypto markets and regulators are now being tasked with gauging the risks originating from increased non-financial intermediaries/exchanges.”

But not all may not be lost for crypto markets, according to the researchers.

“It remains entirely possible that these assets could develop into a mainstream investment vehicle,” wrote MRB. “We suspect this process will be a very long road ahead with more boom/bust phases along the way.”

Most Useful
June 3, 2021

Argo Blockchain said it mined 166 bitcoin (BTC, -5.63%) last month, taking its total beyond 1,000.

The May figure compares with 163 in April, the London Stock Exchange-listed company said Thursday.
Even so, mining revenue fell to $7.8 million, 16% less than the month before, because of the sharp decline in bitcoin’s value.
The firm also announced its execution of a Grid Interconnection Agreement with the Wind Energy Transmission of Texas (WETT) and American Electric Power (AEP) for 200 MW at Argo’s mining facility in the Lone Star State.
The facility is expected to connect to the Electric Reliability Council of Texas (ERCOT), an organization that manages the state’s electric grid, in first-quarter 2022.

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