Business
Sphere 3D Corp. Provides Bitcoin Production and Mining Updates for November 2022
Production for the month totaled 10.28 Bitcoin Total Bitcoin holdings were 90.34 at month end Operations achieved 105.2 BTC/EH efficiency Toronto,
About this update from Sphere 3d Corp.
[{"type":"text","content":"\nProduction for the month totaled 10.28 Bitcoin\nTotal Bitcoin holdings were 90.34 at month end\nOperations achieved 105.2 BTC/EH efficiency\n\nToronto, Ontario--(Newsfile Corp. - December 15, 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, provides results of its Bitcoin mining operation for the month ending November 30, 2022.\nCEO Comments\n\"November was a month of significant achievements for Sphere 3D. With the announced restructuring of our BitFuFu contract, we are anticipating the delivery and energization of thousands of new miners. BitFuFu has shipped more than 11,000 miners to the U.S., which we expect to arrive in the coming weeks. When energized, these machines will dramatically increase our production capacity.\n\"On a parallel path, we are working closely with the new operator of the Wolf Hollow site to energize our approximately 3,336 installed miners. Delays in energization have been complicated by legal restrictions associated with Compute North's bankruptcy proceedings, but we expect a significant portion of these miners to be hashing in the coming days and are doing everything possible to accelerate their energization,\" said Patricia Trompeter, CEO of Sphere 3D.\n\"On a macro level, our focused strategy will ensure the Company is well situated to capitalize on our increased production capacity when the market recovers. The coming month will be transformative as we secure our position in the starting blocks for 2023.\"\nCompute North Update\nAs previously disclosed, the Company shipped 4,026 miners to Compute North before its bankruptcy filing. About 3,336 miners from that order were installed at what was formerly known as Compute North's Wolf Hollow site. Those miners are expected to be energized in the coming days. The balance of the miners, approximately 690, remain at a Compute North storage facility awaiting a decision by the bankruptcy court or a communication from Compute North. The Company is in constant contact with the new operator and continues to reach out to Compute North to gain access to our miners at their facility.\nBitFuFu Miner Update\nAs a result of the restructured purchase agreement with BitFuFu, about 11,850 S19J Pro 104T miners are in transit to the U.S. f...