Welcome to our dedicated page for Sphere 3D news (Ticker: ANY), a resource for investors and traders seeking the latest updates and insights on Sphere 3D stock.
Sphere 3D Corp. (NASDAQ: ANY) is a Bitcoin and cryptocurrency mining company whose news flow centers on operational performance, infrastructure developments, and capital markets activity. The company reports on its industrial-scale Bitcoin mining operations, including Bitcoin production volumes, self-mined Bitcoin balances, and the financial results associated with its mining revenue and operating costs.
News releases from Sphere 3D frequently cover quarterly and annual financial results, where the company details Bitcoin mining revenue, cost of mining, general and administrative expenses, depreciation and amortization, and items such as impairment and loss on disposal of property and equipment. These updates often include commentary from management about cost management, structural simplification, and positioning the business to perform across Bitcoin market cycles.
Investors following ANY news can also expect updates on strategic and operational milestones. Recent announcements include the launch of a vertically integrated Bitcoin mining site in Iowa, described as a significant shift away from hosted and third-party mining operations toward owning and controlling infrastructure. The company also reports on changes to its mining fleet, such as replacing older S19j Pro miners with newer generation S19 XP and S21 Bitmain miners, and on transitions in hosting arrangements and settlements with former hosting partners.
Sphere 3D’s news flow additionally includes capital-raising and securities transactions, such as registered direct offerings, private placements, and warrant inducement agreements, along with related Form 8-K disclosures. Governance and leadership developments, including the appointment of a new Chief Executive Officer and prior interim leadership arrangements, are also documented in its press releases. For investors and observers, the ANY news page provides an ongoing record of how the company manages its Bitcoin mining operations, infrastructure strategy, and corporate actions.
Sphere 3D Corp. (NASDAQ: ANY) has appointed Patricia Trompeter as its new CEO, effective April 5, 2022, marking her as the first minority female CEO in the public cryptocurrency mining sector. Trompeter aims to expand the company's carbon-neutral bitcoin mining operations, targeting a capacity of 6.0 EH/s with significant equipment deliveries planned. The company will increase its Board of Directors to five members and establish an executive advisory board for strategic guidance. Compensation for Trompeter and the Board will heavily utilize bitcoin, reflecting the company's commitment to the cryptocurrency space.
Sphere 3D Corp. has mutually agreed to terminate its merger agreement with Gryphon Digital Mining, originally announced on June 3, 2021, due to changing market conditions. The two companies will continue their collaboration via a Master Services Agreement, allowing Sphere 3D to leverage Gryphon’s bitcoin mining expertise. Sphere 3D has 1,000 miners operational and expects delivery of 4,000 more in 2022, becoming a net carbon-neutral bitcoin miner. Gryphon also expands its operations, aiming for a total hashrate of approximately 2.1 exahash by year-end 2022.
Sphere 3D Corp. (NASDAQ: ANY) received a deficiency notice from Nasdaq due to non-compliance with Rule 5605(c)(2)(A), which mandates audit committee independence. The issue arose from a discretionary bonus payment to Audit Committee member Patricia Trompeter, who resigned from the committee on March 7, 2022, but remains on the Board. The notice does not affect the company's Nasdaq listing or operations. Sphere 3D is preparing a compliance plan, including appointing a new audit committee member.
Sphere 3D Corp. (NASDAQ: ANY) has announced a significant agreement to acquire 60,000 next-generation NM440 bitcoin miners, enhancing its position as a carbon-neutral bitcoin mining leader. The deal, worth up to $1.7 billion, includes $400 million in stock, $29 million in cash, and potential milestone payments. The NM440 miners offer a hash rate of 440 TH/s, with deployment expected to increase capacity by 440% over 13 months. The acquisition will enable Sphere 3D to achieve a total hash rate of 32.4 EH/s, representing approximately 14% of the current global network hash rate.
NuMiner Technologies has launched the NM440 bitcoin miner, which boasts a hash rate of 440 TH/s and a power efficiency ratio of 20.2 J/TH, establishing a new standard in the industry. The company entered a $1.7 billion sale agreement with Sphere 3D for 60,000 NM440 miners, expected to represent ~15% of the global network hash rate. Deliveries are set to begin in the second quarter of 2022. This agreement emphasizes both companies' commitment to sustainable and renewable energy usage in cryptocurrency mining.
Gryphon Digital Mining will present at the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021, at 12:30 pm EST. CEO Rob Chang expressed enthusiasm for sharing Gryphon's growth and carbon negative ESG strategy with attendees. The expo will showcase approximately 50 companies from various tech sectors, including blockchain and bitcoin mining. Gryphon aims to lead in sustainable crypto mining, focusing on hydro-electric and renewable energy sources. The company is also involved in a planned merger with Sphere 3D (NASDAQ: ANY), expected to complete in Q1 2022.
Gryphon Digital Mining announced CEO Rob Chang will speak at the virtual MarketWatch - Investing In Crypto Conference on October 27 and November 3, 2021. The conference focuses on insights into the crypto sector post-China's mining ban. Gryphon, recognized as a leading and carbon-negative bitcoin miner, aims to provide 100% carbon-neutral operations. The company is set to merge with Sphere 3D (Nasdaq: ANY), allowing shareholders to become part of the new entity. The merger is anticipated to close in Q4 2021, subject to regulatory and shareholder approvals.
Gryphon Digital Mining has begun operating its first batch of 7,200 S19J Pro Antminers, marking a significant shift from aspiration to active bitcoin production. This deployment enhances Gryphon's goal to lead in bitcoin mining while maintaining a zero carbon footprint. The new fleet is expected to yield 720 PH/s of hashing power, ranking Gryphon among the top 15 global miners. The company emphasizes its commitment to sustainability, as its operations will rely on 100% renewable energy. Additionally, Gryphon is set to merge with Sphere 3D (Nasdaq: ANY), pending shareholder and regulatory approval, expected to conclude in Q4 2021.
Gryphon Digital Mining has appointed Chris Ensey, a leading expert in cryptocurrency mining, as Chief Technical Advisor. Ensey, formerly COO of Riot Blockchain, brings extensive experience in cybersecurity and operational efficiency. His appointment is part of Gryphon's strategy to strengthen its position in the renewable bitcoin mining sector. Rob Chang, CEO of Gryphon, expressed enthusiasm about Ensey's talent and expertise contributing to the company's growth. Gryphon is moving forward with its merger with Sphere 3D (Nasdaq: ANY), aiming to provide sustainable mining solutions.
Gryphon Digital Mining announced a significant merger agreement with Sphere 3D (Nasdaq: ANY) and a purchase of 7,200 Antminer S19J Pro mining machines from Bitmain for $48 million. This purchase aims to boost Gryphon's Bitcoin hash rate while maintaining a zero carbon footprint. The S19J Pro miners are recognized for their high efficiency and longevity. Deliveries will begin in August 2021, contributing to Gryphon's strategy of operating exclusively on renewable energy. The merger is expected to equate Gryphon shareholders with substantial interests in Sphere 3D.