Bitcoin mining company Gryphon Digital Mining plans to go public on NASDAQ through a reverse merger.

According to reports, Bitcoin mining company Gryphon Digital Mining is going public through a reverse merger with Sphere 3D, a data management company listed on the Nasdaq. According to the terms of the transaction, Sphere said it would issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%. The transaction is scheduled to be completed in the third quarter, subject to shareholder and regulatory approval. Additionally, it is reported that Gryphon Digital Mining is a privately held company focused on mining Bitcoin using 100% renewable energy.