Business
Sphere 3D Corp. Provides Bitcoin Production and Mining Updates for April 2023
Production was 35.59 Bitcoin Operations achieved 80.9 BTC/EH efficiency Uptime was 94% For April 2023 Toronto, Ontario--(Newsfile Corp. - May 9, 2023) -
About this update from Sphere 3d Corp.
[{"type":"text","content":"\nProduction was 35.59 Bitcoin\nOperations achieved 80.9 BTC/EH efficiency\nUptime was 94% For April 2023\n\nToronto, Ontario--(Newsfile Corp. - May 9, 2023) - 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, provides results of its Bitcoin mining operation for the month ended April 30, 2023.\nCEO Comments\n\"April was a pivotal month for Sphere 3D. We deployed the 4,400 miners we received in January to Rebel Mining for energization in May. We are well on our way to have 1.5EH/s online by the end of 2Q23. Rebel Mining was able to test, prep and install all miners in April.\" Said Patricia Trompeter, CEO of Sphere 3D. \"We were able to bring 3,900 of these miners online May 1st with the remainder planned for the weeks following.\"\nCompute North Update\nThere has not been a lot of movement in the Compute North bankruptcy. We continue to work with Compute North and their bankruptcy lawyers for the return of our deposit through the Chapter 11 process. As previously disclosed, we filed our financial claim with the US Bankruptcy Court in February 2023, and must wait for the process to continue.\nMiner Delivery Update\nWe deployed 4,400 miners to Rebel Mining's Missouri site for energization. Curently, 3,900 are hashing as of May 1 and the remaining 500 will be in the coming weeks. We expect to have additional hashrate coming online at Lancium's Texas location beginning in May and anticipate the majority of these to be hashing by mid-June. Finally, we expect to deploy the remaining fleet to an existing host in the next 60 days. With deployments above, we will have successfully placed the majority of our fleet.\n\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/1705/165322_38bd147e44337bfb_002full.jpg\nCore Scientific Update\nAs previously disclosed by the Company, Sphere 3D filed an arbitration request against Core Scientific (\"Core\") on its claim for the non-refunded portion of the Company's advanced deposits. Core subsequently filed for restructuring under Chapter 11 on December 21, 2022, citing burdensome debt obligations as a result of rising energy prices and the decline in the price of bitcoin. In recent publicly filed documents, it appears that Core is c...