Bitcoin mining company Gryphon spends $18.7 million to acquire Canadian natural gas industrial land

01/14 04:07

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Gryphon, a bitcoin mining company listed on NASDAQ, announced that its stock price rose by 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.

Under the acquisition agreement, Gryphon will pay BTG Energy, the parent company of Captus, CAD 24 million (approximately $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 the northeast of British Columbia.

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