Gryphon Digital Mining, Inc. reported its financial results for the quarter ended September 30, 2024, on November 13, 2024. The company announced revenue of US$3.69 million for the quarter, representing a 33% decrease compared to the prior year period.
Despite the revenue decline, Gryphon reported a loss per share of US$0.15, which is an improvement compared to a loss of US$0.56 per share in the third quarter of 2023. This indicates some progress in managing costs or other financial efficiencies.
Steve Gutterman, CEO of Gryphon Digital Mining, stated that the third quarter was fundamentally about strengthening the company's foundation and positioning it for future success. The company continues to focus on low-cost, efficient operations in Bitcoin mining.
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