Sphere 3D Corporation $(ANY)$ reported its financial results for the third quarter of fiscal year 2025, ending September 30, 2025. The company generated revenue of $2.6 million, up from $2.4 million in the third quarter of 2024. Bitcoin production for the quarter was 23.0 Bitcoin, a decrease from 38.7 Bitcoin in the same period last year, attributed to higher than expected curtailments and fewer miners online. General and administrative expenses were reduced by approximately 40% to $1.8 million, compared to $3.0 million in the third quarter of 2024. Overall operating costs and expenses totaled $6.7 million, down from $7.5 million in the prior year quarter. During the quarter, Sphere 3D replaced 1,500 older generation miners with approximately 900 newer generation S21+ miners and sold its remaining CORZ shares, realizing a cumulative recovery of $9.4 million above the settlement value. As of September 30, 2025, the company held a self-mined Bitcoin balance of 22.7 with a fair value of approximately $2.6 million. Recent events include raising $4.1 million in gross proceeds through a warrant inducement, purchasing additional S21 Pro and S21 XP miners expected to increase deployed EH/s by about 25% in the fourth quarter, and entering into a new hosting agreement to support additional miners.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sphere 3D Corporation published the original content used to generate this news brief via Newsfile (Ref. ID: 273017) on November 04, 2025, and is solely responsible for the information contained therein.
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