Mining company Gryphon seeks $10 million in equity proceeds from Sphere 3D settlement with Core Scientific

Bitcoin mining company Gryphon Digital Mining has submitted a pre-motion letter to the Southern District Court of New York requesting permission to file a pre-trial seizure motion to seek the $10 million equity gain recently obtained from the settlement with Core Scientific in bankruptcy exit. Gryphon hopes to ensure that the funds can be used for any judgment that may be received due to Sphere's alleged breach of contract, which has caused losses of at least $30 million. Sphere is accused of violating the exclusivity clause in its agreement with Gryphon by signing at least four hosting agreements with other providers.