ANY Stock Price: Over 25% Increase Pre-Market Explanation

By Amit Chowdhry ● June 10, 2021
  • The stock price of Sphere 3D Corp (NASDAQ: ANY) increased by over 25% pre-market. This is why it happened.

The stock price of Sphere 3D Corp (NASDAQ: ANY) increased by over 25% pre-market. Investors have been responding positively to some company announcements this week.

On Tuesday, Gryphon Digital Mining, a privately-held company focused on the mining of bitcoin using renewable energy, is merging with Sphere 3D. The merged company is going to focus on expanding Gryphon’s digital mining operations and utilize Sphere 3D’s proprietary enterprise solutions.

And yesterday morning, Gryphon Digital Mining and Sphere 3D announced that they have entered into an agreement to buy 250,000 Certified Emission Reductions (credits) with each company buying 125,000 credits, subject to closing conditions.

The credits not only support ESG commitments in achieving net-zero emissions for the parties but will enable Gryphon to become the first carbon-negative crypto miner, This is the next stage in both Gryphon and Sphere 3D’s mission to develop operations with sustainability and ESG ideals in mind.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.