Gryphon Digital Mining Adds Operational Expertise, Names Steve Gutterman as Chief Executive Officer, Jimmy Vaipoulos as Chairman

Rob Chang and Brittany Kaiser continue their leadership as Directors, along with Heather Cox, Jessica Billingsley and Dan Tolhurst.

LAS VEGAS, NV / ACCESSWIRE / September 19, 2024 / Gryphon Digital Mining, Inc. (NASDAQ:GRYP) ("Gryphon" or the "Company") a bitcoin mining company that is focused on becoming the leader in low-cost, environmentally sustainable operations, announced today that Steve Gutterman has been appointed as Chief Executive Officer and Jimmy Vaipoulos as Chairman of the board of directors (the "Board").

Mr. Gutterman becomes CEO after serving as a member of the Gryphon Board and the Chair of its Audit Committee. Prior to his appointment. Mr. Gutterman has built, led, acquired and invested in market-changing companies for almost 30 years. He has driven aggregate annual revenue growth of over $700 million across multiple companies, led or co-led 92 M&A transactions spanning various industries and deal sizes, and spearheaded initiatives that increased market capitalization by more than $7 billion.

Said Mr. Gutterman, "I am honored to be Gryphon's new CEO, and I am incredibly excited by the untapped potential within our company. We have all the tools in place to grow rapidly: a world class team of executives and Board members, engaged shareholders, market leading efficient operations and a platform that we believe will allow us to add capital and accretive acquisitions. By putting these pieces together and focusing on execution, we hope to propel Gryphon forward and create substantial value for our stakeholders."

Mr. Gutterman's previous roles include: President of Harvest Health & Recreation Inc. (CSE: HARV), since acquired by Trulieve (CSE: TRUL) to form the then-largest cannabis company in the US as measured by revenue, E*TRADE Financial (Nasdaq: ETFC), where he was EVP and COO of E*TRADE Bank, CEO of GeoPoll, a market research company and Managing Director of MBH Enterprises, a private equity company focused on technology and infrastructure. Mr. Gutterman holds a JD/MBA from Columbia University and a BA from Tufts University.

Mr. Gutterman replaces Rob Chang, who remains on the Board as a Director.

Joining the Board as Chairperson is Jimmy Vaipoulos. Mr. Vaiopoulos is a Partner, CFO and Co-Founder of Stack Capital Group Inc., a TSX listed issuer that invests in some of the most sought after innovative private late-stage tech companies. Previously, he was the CFO and Interim CEO of Hut 8 Mining, one of the earliest and largest publicly-listed bitcoin miners in the world. He also worked as the CFO of UGE International Ltd., a solar developer based in New York City. He began his career at KPMG in both Audit and Deal Advisory. Mr. Vaiopoulos will focus on identifying and evaluating acquisition and growth opportunities. Mr. Vaipoulos assumes the role of Chairperson from Brittany Kaiser. Ms. Kaiser, along with Heather Cox, Jessica Billingsley and Dan Tolhurst remain on the Board as directors.