Gryphon Digital Mining(US:GRYP)2025-11-14 11:40Financial Performance - Revenue for Q3 2025 was $64.2 million, a significant increase from $11.6 million in the prior-year period[9] - Net income for Q3 2025 was $3.5 million, compared to a net loss of $0.6 million in the same period last year[9] - Adjusted EBITDA for Q3 2025 was $27.7 million, up from a loss of $4.3 million in the prior-year period[9] - Revenue for the three months ended September 30, 2025, was $64,220,000, a significant increase from $11,610,000 in the same period of 2024, representing a growth of 453%[20] - Adjusted EBITDA for the three months ended September 30, 2025, was $27,653,000, compared to a loss of $4,318,000 in the same period of 2024, indicating an improvement of $31,971,000[21] - Net income for the three months ended September 30, 2025, was $3,475,000, compared to a loss of $576,000 in the same period of 2024, reflecting a positive change of $4,051,000[21] - The total comprehensive income for the three months ended September 30, 2025, was $3,475,000, compared to $8,210,000 in the same period of 2024[20] Operational Highlights - The company acquired more than 3,000 Bitcoin, increasing total holdings to 3,418 Bitcoin as of September 30, 2025[7] - Mining capacity was scaled by approximately 2.5x quarter-over-quarter, reaching a total of ~25.0 EH/s[7] - As of September 30, 2025, approximately 21.9 EH/s of total hashrate was operational[4] - The average fleet efficiency was approximately 16.3 joules per terahash (J/TH) as of September 30, 2025[7] Expenses and Losses - Total operating expenses for the nine months ended September 30, 2025, were $174,938,000, compared to a gain of $159,715,000 in the same period of 2024, showing a substantial increase in expenses[20] - The company reported a loss on digital assets of $114,832,000 for the nine months ended September 30, 2025, compared to a gain of $201,147,000 in the same period of 2024[20] - General and administrative expenses for the three months ended September 30, 2025, were $8,052,000, up from $4,812,000 in the same period of 2024, marking a 67% increase[20] - The company incurred non-recurring transaction costs of approximately $5.2 million related to merger activities for the three months ended September 30, 2025[21] - The company reported a loss from discontinued operations of $4,816,000 for the nine months ended September 30, 2025[20] Corporate Developments - The company began trading under the ticker symbol "ABTC" following a stock-for-stock merger with Gryphon Digital Mining, Inc.[7] - The company aims to solidify its position as a capital-efficient platform for long-term Bitcoin accumulation[2] - The weighted average number of shares of common stock outstanding for the three months ended September 30, 2025, was 899,354,931, compared to 891,762,280 in the same period of 2024[20]