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Over the past two years, cryptocurrency has taken hold not only of the global financial industry, but of the tech industry as well. More money than ever is pouring into crypto startups focused on mainstream consumer adoption or acceptance by traditional financial institutions. Crypto in its various forms, from blockchain technology to non-fungible tokens, has its heyday in our cultural imagination.
More and more investors are getting involved in the crypto space, ranging from seasoned venture capitalists to internet celebrities. The Addison Raes family got involved in crypto through their investment in Gryphon Digital Mining, the first cryptocurrency mining startup to produce these digital coins with 100% renewable energy. Gryphon has completed a reverse merger with Sphere 3D, a data management company, to be listed as a public company on the Nasdaq. Monty Lopez, husband of Sheri Easterling, father of Enzo Lopez, Lucas Lopez and Addison Rae Easterling, explains in more detail his family’s journey in the social media industry and explains why now is the right time to get involved in the cryptocurrency industry.
Addison Rae’s family (left to right): Monty Lopez (bottom left), Sheri Easterling (bottom … [+] middle), Enzo Lopez (top middle), Lucas Lopez (top right) and Addison Rae Easterling (bottom right).
Emily Blair Media
Frederick Daso: Before we get into your crypto investing here, I want to know more about the story behind you and your family. Before you were all on TikTok and the social media world in general with your family, I heard you were building houses in Louisiana. How was it ?
Monty Lopez: Well, we were a Berkshire Hathaway owned company that had been working for them for about a decade. It was in the manufactured home industry. We have done a lot of construction for various types of houses. Even at one point in my career, I worked in the Bahamas. So that was really exciting, and it was a good business. Before our family took to social media, this is what I would have thought I had been doing my whole life. You know, it was my career.
Daso: It’s neat. How did you first hear about TikTok and ever thought your daughter Addison Rae was going to explode, let alone make it a full career?
Lopez: It’s funny because my wife thought there was something to the platform at the very beginning. As my daughter started to grow, my wife became even more intrigued. I think my wife has 15 million followers. I have a good five and a half million. It’s just very funny to come back to it. It is the path that has led us to where we are today, for which we are eternally grateful.
Daso: Whether she spawns your daughter’s generation, even yourself, how was it to seriously consider quitting the lumber industry or quitting the homebuilding industry to pursue social media, you and your family full time?
Lopez: My wife and daughter originally came here. At one point I just thought I would take a one year vacation and come here to have a look. Then if it didn’t work or go in the right direction, I would go back to work for the company I have worked for all my life. It wasn’t a really hard decision. It was just a risk.
Daso: A year of vacation has turned into what, how many years now?
Lopez: Yeah, it’s been a year and a half so far. Every time we have stayed here I think I flew on Dec 31, 2019. I came back to pick up my two sons, and my two dogs and my wife stayed here with Addison. Next thing, we live in Tarzana. And here we are today – we’re heading to Los Angeles this week. We have a very busy week.
Daso: Great. Now let’s move on to the main topic. How did you first get into crypto? Concretely, what brought you to discover Gryphon Digital Mining?
Lopez: With crypto, we’ve just started to dabble in it as it has grown over the last year or a year and a half. As we have moved into entertainment, we have started looking for other ways to invest and, in particular, an asset class that we can devote time to and just watch for growth. We were interested in Gryphon because it was the first 100% renewable Bitcoin mining company.
Bitcoin miners are the people or businesses that run these computers, and just like traditional payment processors, they are rewarded with transaction fees. To maximize the profitability of operating the Bitcoin network, miners are encouraged to find the cheapest energy possible, which is often stranded or wasted renewable energy. This, to me, made sense because this is the plane that everything is headed for.
Daso: I’m sure you’ve heard of Elon Musk’s concerns about Bitcoin or cryptocurrencies in general and their negative impact on the environment. Even recently, Tesla just reversed its Bitcoin acceptance policy. How has that, and just a general environmental concern, shaped your thinking process about investing in Gryphon?
Lopez: I said, anytime you look at something that uses 100 percent renewable energy, it makes sense. This is the direction he must take to make it good for the economy.
Their main source of renewable energy is currently hydropower. Gryphon has an advantage over other companies in the space because their renewables prices are so low and are all located in areas of opportunity, as well as states that have credit incentives for renewables, this which cuts our costs even more than fossil fuel options. They are able to prove to the market that going green is not only the right thing to do, but also profitable.
Daso: It’s Father’s Day, do you have something to share or say to your family?
Lopez: Oh man. I’m just thankful that we’re all here together, staying together and staying together as a team, and growing through the experience. I’m really excited that we can come here and all of us sit and grow with it. I have my two sons here, my wife is here and my daughter naturally, she is here. It’s just good to keep us all together. Because it allows us to keep our feet on the ground and keep a cool head.
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