Gryphon Targets 50% Energy Cost Reduction via Gas Assets in British Columbia

Gryphon Digital Mining has revealed plans to trim its electricity tariff by over 50%, cutting rates from $0.06 per kWh to below $0.03. This breakthrough hinges on acquiring natural gas resources in British Columbia with a potential capacity of up to 1 GW following upgrades. According to company executives, they are nearing final negotiations with regional authorities, aiming to bring the initial phase online by Q3 of next year.

With this move, Gryphon hopes to optimize bitcoin mining operations and broaden its AI-computing service portfolio. Early estimates indicate that overall coin production costs could drop by almost 40%. In parallel, the firm is working on long-term hosting contracts with major partners, seeking an additional $50–70 mln to support new infrastructure rollout.

Executives also stress adherence to stringent environmental standards. Beyond natural gas usage, Gryphon plans to incorporate partial CO2 capture technology while repurposing surplus heat for agricultural operations. Similar eco-initiatives were announced during their Alberta agreements, where the company laid groundwork for up to 4 GW of capacity.