Gryphon Digital Mining, Inc. (NASDAQ:GRYP) Q4 2024 Earnings Conference Call March 31, 2025 4:30 PM ET Company Participants Steve Gutterman - Chief Executive Officer Sim Salzman - Chief Financial Officer Conference Call Participants Kevin Dede - H.C. Wainwright Jon Hickman - Ladenburg Thalmann Operator Greetings and welcome to the Gryphon Digital Mining Fourth Quarter and Full Year 2024 Earnings Call. On the call are Steve Gutterman, Chief Executive Officer of the company; and Sim Salzman, Chief Financial Of ...

Financial Data and Key Metrics Changes - Total revenue for 2024 was $108 million, a 141% increase from 2023 [33] - Adjusted EBITDA reached $73 million, compared to $12.4 million in 2023 [37] - Gross profit was $45.7 million, nearly threefold increase from 2023, with gross margins expanding approximately 500 basis points to 42.3% [35][36] Business Line Data and Key Metrics Changes - Bitcoin mining revenue was $58.6 million, up 32% year over year, despite a 37% decline in Bitcoin production [34] - Cloud services generated $45.7 million in its first year of operations, becoming the largest business segment by revenue in the second half of 2024 [34][9] - Colocation services contributed $1.4 million from October 12 through year-end, following the acquisition of Innovem [34] Market Data and Key Metrics Changes - The HPC business accounted for over 40% of full-year revenue and more than half of Q4 revenue [6] - The company has seen strong demand for B200s, with a potential additional $25 million in annual recurring revenue (ARR) expected from a new cluster [13] - The customer pipeline remains strong, with demand for GPUs outstripping supply [14] Company Strategy and Development Direction - The company is focused on scaling its HPC operations and has integrated its data center operations through the Innovem acquisition [6][19] - A disciplined approach to GPU procurement is being taken to manage capital deployment and avoid excess inventory risk [14] - The company aims to position itself as a leader in AI infrastructure, with a focus on urban data center locations to meet low latency requirements [28][109] Management's Comments on Operating Environment and Future Outlook - Management noted significant and sustained demand for compute infrastructure, which exceeds current capacity [39] - The company believes it is misunderstood by the market, with its stock trading like a pure play Bitcoin miner despite its diversified operations [40] - Future growth is expected to be driven by inference demand in AI compute, with strategic developments in metropolitan areas [28] Other Important Information - The company remains debt-free but is exploring financing options for its HPC business [38][42] - Capital expenditures for 2024 totaled $94 million, primarily for GPU purchases and the acquisition of Montreal II [38] Q&A Session Summary Question: What is the current run rate for cloud services? - The current run rate is $62 million, expected to increase to $72 million with the D&A Fund contract [49][50] Question: What is the revenue contribution from colocation services in Q4? - Colocation revenue recognized was $1.4 million, annualized from the acquisition date [56] Question: Can you provide details on the 100 megawatt site under LOI? - There is currently 24 megawatts of power available, with discussions for an additional 100 megawatts by the end of 2025 [65][66] Question: How confident is the company in sourcing infrastructure equipment? - The company has secured equipment for upcoming deployments and is confident in sourcing for future needs [90] Question: What is the strategy regarding Bitcoin mining? - The focus remains on optimizing the fleet and maintaining Bitcoin exposure without significant growth capital allocation [31][96] Question: How is the company evaluating yield strategies for digital assets? - The company sees a bright future for digital assets and is currently focused on its HPC business [105][107]

Riot Platforms (RIOT) Q4 2024 Earnings Call February 24, 2025 04:30 PM ET Company Participants Phil McPherson - VP of Capital Markets & Investor RelationsJason Les - CEO & Executive DirectorColin Yee - Executive VP & CFOJason Chung - Executive VP and Head of Corporate Development & StrategyGregory Lewis - Managing DirectorBrett Knoblauch - Managing DirectorReggie Smith - Executive Director, Equity ResearchMike Grondahl - Head of Equities & Director of ResearchMartin Toner - Managing Director - Institutional ...

IREN (IREN) Q2 2025 Earnings Call February 12, 2025 05:00 PM ET Company Participants Lincoln Tan - Director of Investor RelationsDaniel Roberts - Co-Founder, Co-CEO & DirectorBelinda Nucifora - Chief Financial OfficerJoseph Vafi - Managing Director, Equity ResearchKent Draper - Chief Commercial OfficerGregory Lewis - Managing DirectorBrett Knoblauch - Managing DirectorStephen Glagola - Director - Equity Research Conference Call Participants Darren Aftahi - Senior Research Analyst-Internet, Media and Enablin ...

CleanSpark, Inc. (NASDAQ:CLSK) Q1 2025 Earnings Conference Call February 6, 2025 4:30 PM ET Company Participants Barbara Domingo - IR Zach Bradford - CEO Gary Vecchiarelli - CFO Conference Call Participants Mike Colonnese - H.C. Wainwright Brian Dobson - Clear Street Brett Knoblauch - Cantor Fitzgerald Tyler DiMatteo - BTIG Stephen Glagola - JonesTrading Bill Papanastasiou - KBW Greg Lewis - BTIG Operator Good afternoon. My name is Krista, and I will be your conference operator today. At this time, I would ...

IREN (IREN) Update / Briefing May 10, 2023 06:00 PM ET Speaker0 Good afternoon to those of you in North America, and good morning to those of you in Australia, and welcome to the Iris Energy investor update. My name is Lincoln Tan, senior manager of investor relations. And with me on the call today is Daniel Roberts, cofounder and co CEO. I would like to remind you that certain statements that we make during this call may constitute forward looking statements, and Iris Energy cautions listeners that forward ...