American Bitcoin Corp. (ABTC): M&A transaction — Gryphon Digital Mining acquires 2.9 MW bitcoin mining ops for $1.5M with ~$0.01/kWh power

American Bitcoin Corp.

Purchase price $1.5M in cash; assets include 566 ASIC miners (57,120 TH/s), generators, and modular data centers.
Power cost ~$0.01/kWh via flare-gas PPA; expected to generate ~$1M annual revenue; immediately accretive.
Acquisition funded from existing working capital; first step in +500 MW low-cost power pipeline.
Operations in Louisiana; use of flare gas reduces carbon emissions, expanding environmental stewardship.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.7

American Bitcoin Corp. completed an acquisition involving Giga Caddo, LLC for $1,500,000 in USD cash (closed 2024-08-16).

Action: acquisition
Counterparty: Giga Caddo, LLC
Consideration: $1,500,000 in USD cash
Closing: 2024-08-16

Exact text from the filing

On August 16, 2024, Giga Caddo, LLC, a Delaware limited liability company (“Seller”), and Gryphon Digital Mining, Inc., a Delaware corporation (“Buyer” or the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) pursuant to which Seller agreed to sell: (i) four (4) natural gas generators with a combined gas standby rating of 1,900 kW, (ii) five hundred and sixty-six (566) bitcoin ASIC mining computers with a combined hashrate capacity of approximately 57,120 TH/s, (iii) six (6) Giga Box Air modular data center units with a combined power capacity of 2,900 kW and (iv) certain other crypto mining equipment and related assets to be agreed by the parties (the “Assets”) to Buyer on and subject to the terms and conditions set forth therein (such transaction, the “Transaction”) for $1,500,000 in USD cash (the “Purchase Price”).

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

American Bitcoin Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-070914

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