Gryphon Digital Mining has abandoned its plan to go public using a reverse merger with Sphere 3D. The cryptocurrency mining firm has cited "unforeseen market conditions" as the reason for its decision.
Gryphon Digital Mining had announced its intention to go public in May of last year, when it began a process to merge with Sphere 3D, an existing public company, in an effort to become publicly-traded on the Nasdaq exchange.
Recentturn of Events
The company has recently decided to drop its plans to go public. There were no further details given on the market conditions that had caused it to drop the plans, however.
The news of Gryphon Digital Mining cancelling its plans to become publicly-traded has been met with a mix of reactions from the market. Many investors had been looking forward to the company's potential success as a newly-public entity, and some have expressed disappointment at the news.
Although Gryphon Digital Mining has cancelled its plans to go public, the company is still focused on continuing its operations and growth going forward. The firm says it will focus on expanding its operations to serve the growing demand for cryptocurrency mining.
Gryphon Digital Mining's sudden decision to cancel its plans to go public via a reverse merger with Sphere 3D has caused a mix of reactions from the market. The company is now focused on continuing its operations and growth going forward.
- #Gryphon Digital,
- #unforeseen market conditions,
- #Sphere 3D,
- #Nasdaq exchange,