Sphere 3D Corp. Provides August 2024 Update

Newsfile09-23

Stamford, Connecticut--(Newsfile Corp. - September 23, 2024) - Sphere 3D Corp. (NASDAQ: ANY) ("Sphere 3D"), a Bitcoin mining company, is providing a strategic and operational update for August 2024. ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2469190105?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/8ZgDMlRlZxhMcdyoGqriAg--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/newsfile_64/bb02a566b1b05abd2de9216e9317a4fe","is_english":true,"pubTime":"2024-09-23 19:30","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2469190105","market":"us","top_or_hot":-1,"title":"Sphere 3D Corp. Provides August 2024 Update","media":"Newsfile","content":"<div>\n<p>Stamford, Connecticut--(Newsfile Corp. - September 23, 2024) - Sphere 3D Corp. (NASDAQ: ANY) (\"Sphere 3D\"), a Bitcoin mining company, is providing a strategic and operational update for August 2024.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/sphere-3d-corp-provides-august-113000241.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sphere 3D Corp. Provides August 2024 Update</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSphere 3D Corp. Provides August 2024 Update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-23 19:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sphere-3d-corp-provides-august-113000241.html><strong>Newsfile</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stamford, Connecticut--(Newsfile Corp. - September 23, 2024) - Sphere 3D Corp. (NASDAQ: ANY) (\"Sphere 3D\"), a Bitcoin mining company, is providing a strategic and operational update for August 2024.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/sphere-3d-corp-provides-august-113000241.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ANY","symbol_name":"Sphere 3D Corp","start_time":0,"source_url":"https://finance.yahoo.com/news/sphere-3d-corp-provides-august-113000241.html","article_id":"2469190105","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/8ZgDMlRlZxhMcdyoGqriAg--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/newsfile_64/bb02a566b1b05abd2de9216e9317a4fe"],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/sphere-3d-corp-provides-august-113000241.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2469190105","pubTimestamp":1727091000,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Stamford, Connecticut-- - Sphere 3D Corp.  , a Bitcoin mining company, is providing a strategic and operational update for August 2024.Second batch of Antminer S21 fleet upgrades have arrived. We continue to take older machines offline and replace them with the latest generation models throughout the remainder of the year. We are progressing with our fleet refresh by taking delivery of our second batch of Bitmain Antminer S21s in September, which are coming online in Iowa. We now have over 800 Bitmain S21s and S21 Pros online or ordered, for a total of .2 EH/s.While we grow our core operations, we continue our goal of merging with a company focused on vertical integration. We are continuing discussions with several potential partners.As mentioned above, we added .2 EH/s to our fleet in the form of Bitmain Antminer S21s and S21 Pros. As we continue to \"swap out the fleet\" in batches, older machines will come offline to make room at our hosting partners for","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ANY":"Sphere 3D Corp","BK4097":"系统软件","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4588":"碎股","BK4023":"应用软件"},"translate_title":"Sphere 3D Corp.提供2024年8月更新","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ANY":1},"content_text":"Stamford, Connecticut--(Newsfile Corp. - September 23, 2024) - Sphere 3D Corp. (NASDAQ: ANY) (\"Sphere 3D\"), a Bitcoin mining company, is providing a strategic and operational update for August 2024.\nKey Highlights:\n\nSecond batch of Antminer S21 fleet upgrades have arrived\n12.7 Bitcoin mined in August 2024\nMonth-end deployed hash rate was 1.0 EH/s \n\n\n\n\nMetrics\nAug 2023\nJuly 2024\nAug 2024\n\n\nBitcoin Mined\n58.3 \n16.8 \n12.7 \n\n\nBitcoin Sold\n65.7 \n22.0 \n12.6 \n\n\nMining Revenue\n$1.6 million \n$1.0 million\n$0.8 million\n\n\nBitcoin Holdings\n2.8 \n2.0\n2.1\n\n\nDeployed Miners\n~12,450 \n~11,200\n~8,900\n\n\nMonth End Deployed Hash Rate (EH/s) \n1.3 EH/s\n1.2 EH/s\n1.0 EH/s\n\n\n\nStrategic Update:\nWe continue to proactively focus on the company's future growth through operational growth and strategic partnerships:\n\nAs announced earlier this month, we are developing a 12.5 MW site in Iowa at an average of sub ~ 4 cent energy. The site will be built, developed and managed by Simple Mining LLC. The targeted completion date is early December 2024.\n\n\nWe continue to take older machines offline and replace them with the latest generation models throughout the remainder of the year. We are progressing with our fleet refresh by taking delivery of our second batch of Bitmain Antminer S21s in September, which are coming online in Iowa. We now have over 800 Bitmain S21s and S21 Pros online or ordered, for a total of .2 EH/s.\n\n\nWe anticipate a drop in bitcoin mined next month as we exit our Granbury site. Some of the older machines from Granbury will be brought online at another facility and some will be replaced with later generation models.\n\n\nWhile we grow our core operations, we continue our goal of merging with a company focused on vertical integration. We are continuing discussions with several potential partners. \n\nCEO Comments\n\"We are excited to announce that we are partnering with Simple Mining on the development of our 12.5 MW site in Iowa. In addition, our second batch of S21s have arrived and are currently hashing in Iowa. This brings our total mix of S21s and S21 Pros to 800, or .2 exahash. Finally, we were able to facilitate a contract buyout with our hosting partner at the Granbury site. This will allow us to sell our older generation machines and purchase more Antminer S21 machines as well as partially fund development of the 12.5 MW site,\" explains Patricia Trompeter, CEO of Sphere 3D. She adds, \"There will be a temporary drop in exahash and bitcoin mined over the next couple of months as we execute this transition of taking older machines offline, and replacing them with newer machines, but we believe that long-term controlling our cost of electricity and upgrading the fleet will position us well for profitability in the first half of 2025.\"\nProduction\nAs mentioned above, we added .2 EH/s to our fleet in the form of Bitmain Antminer S21s and S21 Pros. As we continue to \"swap out the fleet\" in batches, older machines will come offline to make room at our hosting partners for newer generation equipment. Gradually refreshing the fleet allows us to use existing working capital and maintain our debt free status.\nAbout Sphere 3D\nSphere 3D Corp. (NASDAQ: ANY) is a cryptocurrency miner growing its industrial-scale Bitcoin mining operation through the capital-efficient procurement of next-generation mining equipment and partnering with best-in-class data center operators. Sphere 3D is dedicated to growing shareholder value while honoring its commitment to strict environmental, social, and governance standards. For more information about Sphere 3D, please visit Sphere3D.com.\nForward-Looking Statements\nThis communication contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements because they contain words such as \"may,\" \"will,\" \"should,\" \"experts,\" \"plans,\" \"anticipates,\" \"could,\" \"intends,\" \"target,\" \"project,\" \"contemplates,\" \"believes,\" \"believes,\" \"estimates,\" \"predicts,\" \"potential,\" or \"continue\" or the negative of these words or other similar terms or expressions. Expectations and beliefs regarding matters discussed herein may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from the projected. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described in filings with the SEC, including Sphere 3D's reports filed on Form 10-K, Form 10-Q and Form 8-K and in other filings made by Sphere 3D with the SEC from time to time and available at www.sec.gov. These forward-looking statements are based on current expectations, which are subject to change.\nSphere 3D Contact\nKurt Kalbfleisch CFO, Sphere 3DInvestor.relations@sphere3d.com\n\nTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/224155","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2469190105"}