Business
Sphere 3D Corp. Increases Production Capacity by Approximately 267%
More than 2,665 new miners started hashing at the Wolf Hollow site Production capacity jumps to about 365 petahashes per second Toronto, Ontario--(Newsfile
About this update from Sphere 3d Corp.
[{"type":"text","content":"\nMore than 2,665 new miners started hashing at the Wolf Hollow site\n\nProduction capacity jumps to about 365 petahashes per second\n\nToronto, Ontario--(Newsfile Corp. - December 20, 2022) - Sphere 3D Corp. (NASDAQ: ANY) (\"Sphere 3D\" or the \"Company\"), dedicated to becoming the leading carbon-neutral Bitcoin mining company operating at an industrial scale, has grown its production capacity 267 percent by energizing more than 2,665 new miners.\n\"This increase in production capacity is great news for the Company and our shareholders,\" said Patricia Trompeter, CEO of Sphere 3D. \"We continue to push for energizing the balance of the 4,026 order as quickly as possible. I am also looking forward to receiving the almost 12,000 miners that are currently in transit to the U.S., due to arrive before the end of the year. Sphere 3D's production capacity is set to grow dramatically in the near term, which is anticipated to favorably impact the Company's ongoing financial performance.\"\nThe recently energized miners are part of an order of 4,026 miners that were delivered to Compute North at its Wolf Hollow hosting facility in Grandbury, Texas. Adding to the recently energized 2,665 miners, an additional 671 miners should be energized in the coming days, and approximately 690 miners are in storage due to Compute North's bankruptcy.\nAnnual General Meeting\nSphere 3D's Annual General Meeting is scheduled for today, December 20, 2022, at 11:00 a.m. ET. Meeting materials are available for review at docs.tsxtrust.com/2040 and under the Company's SEDAR and EDGAR profiles at www.sedar.com and www.sec.gov, respectively.\nAbout Sphere 3D\nSphere 3D Corp. (NASDAQ: ANY) is a net carbon-neutral cryptocurrency miner with decades of proven enterprise data-services expertise. The Company is rapidly growing its industrial-scale 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 the Company, 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 Secur...