Sphere 3D drops liability claim against Gryphon in Bitcoin impersonation incident; Gryphon seeks $45M in damages

American Bitcoin Corp.

Sphere conceded in court on June 27, 2024 it will not seek liability against Gryphon for 26 BTC transferred due to impersonation of Sphere's CFO.
Third-party forensic investigation found no breach of Gryphon's internal security systems.
Gryphon continues to pursue a $45M damages claim against Sphere for breach of the MSA.
Litigation is in early discovery stage; Gryphon is represented by Hogan Lovells.
Gryphon remains independently certified 100% renewable bitcoin miner.

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