Form 4: Anchorage Lending and Anchor Labs Exercise Warrants in Gryphon Digital Mining, Increasing Common Stock Holdings

Anchorage Lending CA, LLC and its parent company, Anchor Labs, Inc., exercised warrants to acquire over 4.3 million net shares of Gryphon Digital Mining, Inc. common stock through cashless transactions.

Summary

• Anchorage Lending CA, LLC, a 10% owner and director by deputization of Gryphon Digital Mining, Inc. (GRYP), executed two warrant exercises on June 24, 2025.
• The first warrant exercise involved 2,000,000 shares at an exercise price of $0.55 per share. Through a cashless transaction, 1,110,102 shares were withheld by GRYP to cover the exercise price, resulting in Anchorage Lending receiving 889,898 net shares.
• The second warrant exercise involved 3,530,198 shares at an exercise price of $0.01 per share. This was also a cashless transaction, with 35,626 shares withheld by GRYP, leading to Anchorage Lending receiving 3,494,572 net shares.
• In total, Anchorage Lending CA, LLC acquired 4,384,470 net shares from these warrant exercises.
• Following these transactions, Anchorage Lending CA, LLC's beneficial ownership of GRYP common stock stands at 12,672,454 shares.
• Anchor Labs, Inc., as the sole owner of Anchorage Lending, is deemed to share beneficial ownership of these securities.
• Dan Grigorin serves as Anchorage Lending's representative on Gryphon Digital Mining's board of directors, leading to the reporting persons being deemed 'director by deputization'.

Sentiment

Score: 6

Explanation: The exercise of warrants by a significant shareholder and director is generally a neutral to slightly positive event, indicating a conversion of potential equity into actual shares. The cashless nature means no new capital was injected into the company from these specific transactions, which prevents a higher positive score.

Positives

• The exercise of warrants by a significant shareholder and director indicates a conversion of potential equity into actual common stock, which can be interpreted as a commitment to the company.
• The low exercise prices of $0.01 and $0.55 per share for the warrants suggest a favorable cost basis for the reporting person.

Negatives

• The cashless nature of the warrant exercises means no new cash capital was injected into Gryphon Digital Mining from these specific transactions, as shares were withheld to cover the exercise price.

Future Outlook

This Form 4 filing reports specific insider transactions and does not provide any forward-looking statements or guidance regarding the company's future performance or strategic outlook.

Management Comments

• Anchorage Lending CA, LLC ('Anchorage Lending') is wholly owned by Anchor Labs, Inc., a Delaware corporation ('Anchor Labs'). Accordingly, Anchor Labs may be deemed to share beneficial ownership of the securities held of record by Anchorage Lending.
• Dan Grigorin currently serves as Anchorage Lending's representative on the Issuer's board of directors, and therefore the Reporting Persons may each be deemed a 'director by deputization' of the Issuer.

Industry Context

This Form 4 filing details specific insider transactions (warrant exercises) by a significant shareholder and director of Gryphon Digital Mining, Inc. It does not provide information on broader industry trends or the competitive landscape, focusing solely on changes in beneficial ownership.

Stakeholder Impact

• Shareholders: The cashless exercise of warrants results in the issuance of new common stock, which increases the total outstanding shares and may lead to a slight dilution of existing shareholders' percentage ownership, although the warrants were already part of the company's capital structure. The increased direct ownership by a significant insider may be viewed as a sign of confidence.

Key Dates

Keywords

Gryphon Digital Mining, GRYP, Anchorage Lending CA, Anchor Labs, SEC Form 4, Beneficial Ownership, Warrant Exercise, Insider Transaction, Common Stock, Cashless Exercise, Director by Deputization