- The stock price of Sphere 3D Corp (NASDAQ: ANY) increased by over 20% this past week. This is why it happened.
The stock price of Sphere 3D Corp (NASDAQ: ANY) – a company delivering containerization, virtualization, and data management solutions – increased by over 20% this past week. Investors are responding positively to Sphere 3D announcing that it has entered into an agreement with Gryphon Digital Mining for about 230 MW of carbon-neutral bitcoin mining hosting capacity to be managed by Core Scientific as a hosting partner.
This hosting agreement is the single largest order in Core’s history and represents yet another step forward for Sphere 3D and Gryphon in becoming the world’s largest carbon-neutral bitcoin miner. And this landmark hosting agreement will provide hosting capacity for up to 71,0002 state-of-the-art bitcoin mining machines, and furnishes Sphere 3D with a partner to host the 60,000 Bitmain S19j Pro miners whose purchase was previously announced by the company.
The agreement features the installation of digital asset miners at Core Scientific’s 100% net carbon neutral blockchain data centers over the course of 14 months. And as part of the partnership, Core Scientific will provide its industry-leading digital mining fleet management and monitoring solution Minder, data analytics, alerting, monitoring, and miner management services. Core Scientific’s facilities offer 24/7 physical security and technical support operations with teams available and able to attend to down units and perform repairs around the clock to deliver maximum uptime.
“We recently announced the single largest order in digital mining history through our purchase of 60,000 miners. It only makes sense that we would, through the great work and help of the team at Gryphon, choose the industry-leading hosting partner in Core Scientific. Both Sphere 3D and Gryphon are committed to the professionalization of the crypto industry and are excited to work with a blue chip partner like Core Scientific. The commitment to carbon neutrality, industry-leading infrastructure, and experience of the Core team were the deciding factors for us as we continue our journey to take the leadership position in crypto mining.”
— Peter Tassiopoulos, CEO of Sphere 3D
“Working with and hiring the best is a fundamental philosophy at Gryphon Digital Mining and we could not have found a better hosting partner than Core Scientific. Core has a stellar reputation for being an enterprise-grade hosting services provider and we are excited to work with a similar-minded, blue-chip partner. This agreement unlocks the operational capacity for our post-merger company to operate approximately 6.7 exahash of hashing power, which would place us among the top publicly traded bitcoin miners in the world.”
— Rob Chang, CEO of Gryphon Digital Mining
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.