Sphere 3D Corp. (ANY) stock is rising today: What’s Going on?

Shares of the 3D Corp. (ANY) stock were rising in the premarket today following the announcement of the largest Single Hosting Services Deal in Core Scientific’s history. ANY stock price saw an uptrend of 9.25% to reach $7.68 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 10.10% at closing. Let’s deep dive to explore more about this stock.

Announcement of Second Largest Hosting Services Deal:

ANY stock today announced that it has entered into the agreement with Gryphon Digital Mining for the carbon-neutral bitcoin mining hosting capacity of approximately 230 MW. The Core Scientific will be the hosting partner and manage the hosting capacity. This is the single largest order in the history of Core. This deal represents one step ahead for Sphere 3D and Gryphon in the race of becoming the world’s largest carbon-neutral bitcoin miner. The agreement represents the hosting capacity of 71,000 for the state-of-art bitcoin mining machines. Furthermore, the digital asset miners will be installed at data centers of Core Scientific in 14 months tenure. Core Scientific will provide Minder™, data analytics, alerting, monitoring, and miner management services as part of this partnership.

ANY stock secured order for 60,000 BTC Antminers:

Back in the previous month on September 21, 2021, ANY stock reported that it had made a US$85 million payment towards the purchase order for 60,000 bitcoin mining rigs. The stock bought 60,000 Antminer S19j Pros which are currently playing the lead role in the mining industry. The machines will begin to deliver in November 2021.

ANY stock had raised an excess of 200 million dollars not so long ago and deployed the portion of capital towards the initial acquisition of miners. The management is striving hard to make ANY stock the leader in the mining industry.

As previously announced, the ANY stock entered into the Agreement and Plan of Merger with Gryphon Digital Mining. The agreement is expected to close in the fourth quarter of the ongoing year. After the closing of the merger, the combined companies will enjoy a total capacity of 6.7 exahash, which is capable enough to produce 1,300 bitcoin per month.

About Company:

Sphere 3D Corp is a Toronto, Canada-based company engaged in data management and desktop and application virtualization solutions across the globe. It has HVE converged and hyper-converged infrastructure solutions. ANY stock sells its products to small and medium enterprises via its distributors and reseller network.