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Jessica Billingsley, a director at Gryphon Digital Mining, Inc. (NASDAQ:GRYP), has recently acquired a significant amount of the company's stock. According to a filing with the Securities and Exchange Commission, Billingsley purchased 48,412 shares of Gryphon Digital Mining's common stock on January 13, 2025, at a price of $0.39 per share. This transaction totals approximately $18,880. The purchase comes as the stock trades at $0.43, with InvestingPro analysis suggesting the shares are currently undervalued despite falling 89% over the past year.
Following this purchase, Billingsley holds 48,810 shares directly. Additionally, she has indirect ownership of 2,696 shares through the Jessica Billingsley Living Trust, where she serves as the trustee with voting and investment discretion.
These transactions reflect Billingsley's continued investment in Gryphon Digital Mining, a company operating in the finance services sector with a focus on crypto assets.
In other recent news, Gryphon Digital Mining has made significant strides in its operations. The company recently raised $2.85 million in a stock sale, a crucial move given its current financial challenges highlighted by a low current ratio of 0.06, according to InvestingPro. Gryphon has also acquired high-performance computing assets in Alberta and natural gas assets in British Columbia, strategies aimed at scaling up its operations and reducing power costs.
Simultaneously, Gryphon underwent a significant debt restructuring with Anchorage Digital, decreasing its outstanding debt by over 70%. The company also reported mining 17.26439 bitcoins in November 2024, generating estimated revenues of $1,487,580. In the midst of these developments, Gryphon appointed Steve Gutterman as CEO, signaling a shift in its leadership.
Despite these advancements, analyst firm H.C. Wainwright maintains a neutral stance on Gryphon. The company is currently dealing with a lawsuit filed by its former CEO, Robby Chang, but has been cleared of liability in a security breach incident involving Sphere 3D Corp. Gryphon continues to pursue a counterclaim against Sphere for alleged breaches of their Master Service Agreement, seeking approximately $45 million in damages.
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