Why Did Gryphon Digital Mining (GRYP) Soar 15.89%?

Gryphon Digital Mining, Inc. (GRYP) experienced a significant surge in its stock price, rising by 15.89% in pre-market trading on May 16, 2025.

Gryphon Digital Mining, Inc. operates as a bitcoin mining company in the United States, focusing on operating mining computers and hosting mining data centers. The company's stock price has been volatile, with fluctuations between $0.750 and $1.03 on Wednesday, May 14, 2025.

Gryphon Digital reported its fourth-quarter results on March 31, 2025, posting revenue of $20.5 million for the full year 2024. This figure represents a decline from the previous year's revenue of $21.9 million, indicating a challenging period for the company.

HC Wainwright reiterated a "neutral" rating on shares of Gryphon Digital Mining in a report on Tuesday, reflecting a cautious outlook on the company's near-term prospects.