Gryphon lacks financial resources for agreed miners
Company: Core Scientific
The claim, verbatim
Gryphon Digital Mining appears to lack financial resources to purchase and install miners in Core Scientific's facilities; as of January 6, 2022, Gryphon had only 3,000 S19J Pro machines despite the agreement calling for 71,000 machines.
Source (primary)
Core Scientific, Inc. — Entry #1842: Adversary case 22-03345 (RECAP (purchased via PACER), court_filing)
View cached copy (2026-09-26)Live source ↗
Quote: “Gryphon appears to us to be a stock promotion, with little financial wherewithal to purchase or install its miners in Core's facilities... Gryphon most recently disclosed that as of January 6, 2022, the company had just 3,000 S19J Pro machines.”
How we checked this
Checked on September 28, 2026. The cited source supports part of this claim, but not all of it.
The source supports the doubts about Gryphon's finances, attributed to Culper Research, and the 3,000-machine figure. It frames 71,000 as the maximum the capacity could support, not a number the agreement required.
Confirmed in the source:
- Culper Research said Gryphon appeared to have little financial wherewithal to purchase or install miners in Core Scientific's facilities
- Gryphon disclosed that as of January 6, 2022, it had just 3,000 S19J Pro machines
We could not confirm this from the cited source:
- That the Gryphon agreement called for 71,000 machines; the source says the 230 MW of capacity could support up to 71,000 machines, not that the agreement required that number
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of RECAP (purchased via PACER) (https://storage.courtlistener.com/recap/gov.uscourts.txsb.460090/gov.uscourts.txsb.460090.1842.0.pdf) in full (60,424 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Core Scientific, Inc. — Entry #1842: Adversary case 22-03345
Quote: “Gryphon appears to us to be a stock promotion, with little financial wherewithal to purchase or install its miners in Core's facilities... Gryphon most recently disclosed that as of January 6, 2022, the company had just 3,000 S19J Pro machines.”