Gryphon Digital Mining, Inc. engages in carbon-neutral bitcoin mining. Gryphon Digital Mining, Inc. was formerly known as Ivy Crypto, Inc. The company was incorporated in 2020 and is based in Las Vegas, Nevada.

Gryphon Digital Mining, Inc.

Financial Services

The company does not pay dividends at all, or it pays them sporadically. There have only been a few years with dividend payments in the past ten years. 

GRYP reported revenue of USD 15mn in the last 12 months, down 29% from FY24. The dynamics of cash flow, as measure by free cash flow (FCF), were rather similar. EPS fell 45% from FY24 to USD -0.33. Market expects EPS to reach USD -0.76 in FY25.

Over the last six months, the stock performance has varied, with an increase following a drop. The stock's price trend wasn't definitive when matched against its global counterparts from the same sector and industry (as depicted above). Over the past six months the stock has exceeded the performance of this peer group by 211ppts and its growth accelerated by 30ppts in the past month. This is equally valid for peers from the same country and industry. Given the stock's valuation versus its peers, its total price movement is mildly favourable.

The company has reported very poor EBITDA margins compared to its global peers in recent years. EBITDA margin amounted to -42.8% in the last 12 months, up from -52.5% in FY23. 

Historically, GRYP has reported very poor net margins compared to its global peers. Specifically, in the last 12 months, this metric equalled -108.4%, a growth from -146.5% in FY23. 

In the last 12 months, the return on capital employed (RoCE) grew to 800.4%, above the peers. The consensus estimate for FY24 for RoCE is 16.4%, however, this time below its peers. 

Gryphon Digital Mining, Inc. reported a return on equity (RoE) of 215.9% in the last 12 months, down from 323.3% in FY23. The market consensus projects an RoE of 6.8% in FY24, however, this time below its peers. 

Another important profitability metric, return on assets (RoA), amounted to -190.7% in the last 12 months, a decrease from -141.2% in FY23. The market analysts predict that RoA will be -6.3% in FY24, again weaker than its peers. 

The ratio of return on invested capital (RoIC) to the weighted average cost of capital (WACC) has been 8.3 in the past several years. This ratio implies a excellent shareholder value creation. 

The institutional, legal, and compliance risks associated with the company's country are minimal. In combination with stringent business standards, shareholder rights are very highly protected.

GRYP has very poor trading liquidity. The average private investor can sell his common position in the stock almost immediately. Liquidity is very unstable and is unfavourable on the days with the lowest activity. The trading volume mostly stays the same even under highly turbulent market conditions. The stock has a tiny market capitalisation, which usually makes its trading liquidity erratic and unpredictable. 

No other major risks have been identified.

The risk of default is high. Among the negative credit factors, we point to slow historical revenue growth, bleak profitability, negligible return on capital, inadequate interest coverage, and poor cash flow generation. We note low margin volatility and an favourable capital structure, among the positive credit factors. 

In highly turbulent market conditions, GRYP is exceptionally volatile. In other words, the stock will be among the worst-performers in times of extreme market volatility or shocking company news. Standalone, the worst-day losses (less than 1% of the time) will likely be critical. 

In normal market circumstances, GRYP is exceptionally volatile. Put differently, without outstanding market volatility or shocking company news, the stock's price will change quite unpredictably. The stock's losses on its worst days (less than 1-5% of the time) will range from critical to immense. 

Based on key historical and expected multiples, the stock is greatly overvalued relative to its peers. 

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Gryphon Digital Mining, Inc.

$ 1.08

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Gryphon Digital Mining, Inc.

$ 1.08

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Risk factor

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Gryphon Digital Mining, Inc.

$ 1.08

1

Gryphon Digital Mining, Inc.

$ 1.08

1

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Risk / Profitability

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