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Sphere 3D to Grow Its Bitcoin Mining Capacity to 32 Exahash Through the Purchase of 60,000 Numiner NM440 BTC Miners
Upon full deployment, Sphere 3D will be one of the largest carbon neutral bitcoin miners in the world. Sphere 3D enters into an agreement to acquire 60,000
About this update from Sphere 3d Corp.
[{"type":"text","content":"\n\nUpon full deployment, Sphere 3D will be one of the largest carbon neutral bitcoin miners in the world.\n\n\nSphere 3D enters into an agreement to acquire 60,000 next-generation NuMiner bitcoin miners operating at 440 TH/s for a total capacity of 26.4 EH/s.\n\n\nSphere 3D previously contracted to purchase 60,000 ANTMINER S19j Pro miners totaling 6.0 EH/s for delivery in calendar year 2022.\n\n\nTotal consideration for NuMiner machines includes ~$400 million of Sphere 3D capital stock, $29 million in cash, a Sphere 3D option to utilize up to $1.1 billion in vendor purchase financing and up to $185 million of additional milestone payments as discussed below, for a total of up to $1.7 billion for 26.4 EH/s.\n\n\n TORONTO--(BUSINESS WIRE)--\nSphere 3D Corp. (Nasdaq: ANY) (“Sphere 3D” or the “Company”), dedicated to becoming the leading carbon neutral bitcoin mining company operating at enterprise scale, has entered into an agreement to purchase 60,000 units of new NM440 bitcoin miners from NuMiner Global, Inc. (“NuMiner”), the exclusive distributor for all NuMiner Technologies Inc. products. The NM440 was introduced to the market for the first time today and features a hash rate of 440 TH/s and a power efficiency ratio of 20.2 J/T.\n\nBased on current delivery schedules, the Company will receive 12 pre-production NM440s for final evaluation and testing to completed on or before June 1, 2022. Upon the successful completion of the final evaluation and testing, deployment will consist of 1,000 miners in June 2022 and approximately 10,000 NM440’s per month from September 2022 to February 2023. Under the terms of the agreement, the Company is also granted an option to acquire an additional 26.4 EH/s of production at the same commercial terms as well as the exclusive right of first refusal on all future NuMiner products and software enhancements.\n\nThe purchase terms for the 60,000 NM440s amount to a maximum purchase price of $1.7 billion including:\n\n\n$429 million in down payments, including approximately $400 million in common and preferred stock, subject to regulatory approval, and $29 million in cash;\n\n\n$1.1 billion in vendor financing from NuMiner at the option of Sphere 3D and subject to execution of additional definitive documentation; and\n\n\nAdditional milestone payments of approximately $185 million based on a sliding ...