Sphere 3D Corp Stock Price, News & Analysis

Sphere 3D (NASDAQ: ANY) reported third quarter fiscal 2025 results for the period ended September 30, 2025, highlighting operational changes and financials.

Key facts: Revenue $2.6M, 23.0 Bitcoin mined, self-mined Bitcoin balance 22.7 BTC (~$2.6M fair value). The company reduced G&A ~40% and total operating costs to $6.7M, with loss from operations of $4.0M (down 23% YoY). Recent actions include selling remaining CORZ shares with $9.4M cumulative recovery, a $4.1M warrant inducement, new hosting capacity, and October purchases expected to raise deployed EH/s ~25% in Q4 2025.

Sphere 3D (NASDAQ: ANY) entered a warrant inducement agreement effective October 17, 2025 for immediate exercise of November 2024 warrants to purchase 4,368,211 common shares at a reduced exercise price of $0.94, generating approximately $4.0 million gross proceeds before fees and expenses.

In private placement consideration, the investor received new unregistered October 2025 warrants to buy up to 8,736,422 shares at $0.94, exercisable after stockholder approval and expiring five years from approval. The company will use net proceeds for working capital and file a registration statement covering resale of shares issuable on exercise.

Sphere 3D (NASDAQ: ANY), a Bitcoin mining company, reported its Q2 2025 financial results with net income of $1.7 million ($0.06 per share). Revenue decreased to $3.0 million from $4.7 million in Q2 2024, while Bitcoin production dropped to 30.9 Bitcoin from 70.7 Bitcoin year-over-year.

The company achieved significant cost reductions with operating expenses down 46% to $5.6 million. As of June 30, 2025, Sphere 3D held 20.5 Bitcoin valued at approximately $2.2 million. The company is currently transitioning from high-cost hosting contracts and replacing older mining equipment with newer generation machines.

Sphere 3D Corp. (NASDAQ: ANY), a Bitcoin mining company, reported its Q1 2025 financial results, showing significant declines in performance. The company produced 30.5 Bitcoin in Q1 2025, down from 144.8 Bitcoin in Q1 2024, while revenue decreased to $2.8 million from $6.9 million year-over-year. The company reported a net loss of $8.8 million ($0.32 per share), compared to a $4.5 million loss in Q1 2024.

Key developments include a settlement agreement with Gryphon Digital Mining, energizing a new Iowa hosting site managed by Simple Mining, and ending its hosting agreement with Rebel Mining for a $2.4 million settlement. As of March 31, 2025, Sphere 3D held 22.7 Bitcoin valued at approximately $1.9 million.

Sphere 3D (NASDAQ: ANY) reported its fiscal year 2024 financial results, marking a year of transition following the Bitcoin halving. The company generated revenues of $16.6 million in 2024, down from $21.9 million in 2023, while reducing operating costs to $38.0 million from $51.9 million. Net loss decreased to $9.5 million ($0.48 per share) from $23.4 million in 2023.

Key developments include:

• Replacement of 25% of S19j Pro miners with newer S19 XPs and S21 Bitmain miners, increasing hashrate by 40-100%
• Registered direct offering of 4.2M common shares at $1.42 per share
• Partnership with Simple Mining for Iowa mining site development
• Settlement agreements with Core Scientific and Gryphon Digital Mining
• As of December 31, 2024, held 14.9 Bitcoin valued at approximately $1.4 million

Sphere 3D Corp (NASDAQ: ANY) has announced the launch of its first self-owned Bitcoin mining facility in Iowa, marking a strategic shift from hosted and third-party operations to full infrastructure ownership and control. The new vertically integrated model enables the company to:

- Direct management of power procurement with energy costs below $4 per MWh
- Enhanced operational efficiency and cost structure control
- Improved profit margins through infrastructure ownership
- Greater flexibility in energy strategy

Acting CEO Kurt Kalbfleisch emphasized this launch as a pivotal moment for the company, highlighting how vertical integration strengthens their position in the competitive Bitcoin mining landscape. The Iowa facility represents the first phase of Sphere 3D's expansion plans for its vertically integrated model.

Sphere 3D Corp. (NASDAQ: ANY) has announced the passing of CEO Patricia Trompeter after a battle with cancer. Trompeter, who joined as Director in 2021 and became CEO in 2022, had previously taken a leave of absence on January 31, 2025.

During her tenure, she successfully navigated the company through her first Bitcoin bear market. Before joining Sphere 3D, she spent nearly two decades at General Electric, focusing on strategic mergers and acquisitions. In 2023, she was recognized on Forbes' 50 Over 50 list.

The company confirms that CFO Kurt Kalbfleisch, who was appointed as interim CEO during Trompeter's leave of absence, will continue to lead the company with a focus on strategic partnerships and acquisitions.

Sphere 3D Corp. (NASDAQ: ANY) announced that President and CEO Patricia Trompeter will take a temporary medical leave of absence for approximately four months to address an existing health condition. During this period, she will remain on the Board of Directors and continue participating in key strategic decisions.

Chief Financial Officer Kurt Kalbfleisch, who has served as Senior VP, CFO, and Secretary since December 2014, will assume the role of acting CEO, overseeing daily operations and maintaining business continuity. The Board of Directors has expressed full confidence in the management team's ability to execute strategic initiatives during this transition period.

Sphere 3D Corp (NASDAQ: ANY) has announced a $6 million financing through a registered direct offering and concurrent private placement. The company will issue 4,225,353 common shares at $1.42 per share to a single institutional investor, along with warrants to purchase an additional 4,225,353 shares at $1.50 per share. The warrants will be exercisable after six months and expire in 5.5 years. The proceeds will be used to improve mining efficiency, upgrade the mining fleet, integrate infrastructure, and for general corporate purposes. Additionally, existing warrants for 142,857 shares will be amended, reducing the exercise price from $66.50 to $1.50 per share.