Sphere 3D Corp. Provides August 2024 Update
Sphere 3D Corp. (NASDAQ: ANY), a Bitcoin mining company, has provided a strategic and operational update for August 2024. Key highlights include:
- The arrival of the second batch of Antminer S21 fleet upgrades
- 12.7 Bitcoin mined in August 2024
- Month-end deployed hash rate of 1.0 EH/s
The company is developing a 12.5 MW site in Iowa with sub ~4 cent energy, targeting completion in early December 2024. Sphere 3D is progressing with its fleet refresh, now having over 800 Bitmain S21s and S21 Pros online or ordered, totaling .2 EH/s. The company anticipates a temporary drop in bitcoin mined next month due to exiting the Granbury site. CEO Patricia Trompeter stated that while there will be a temporary drop in exahash and bitcoin mined, the company believes controlling electricity costs and upgrading the fleet will position them well for profitability in the first half of 2025.
Sphere 3D Corp. (NASDAQ: ANY), una compagnia di mining di Bitcoin, ha fornito un aggiornamento strategico e operativo per agosto 2024. I punti salienti includono:
- l'arrivo del secondo lotto di aggiornamenti della flotta Antminer S21
- 12,7 Bitcoin estratti a agosto 2024
- hash rate distribuito a fine mese di 1,0 EH/s
La compagnia sta sviluppando un sito da 12,5 MW in Iowa con energia a circa 4 centesimi, con obiettivo di completamento all'inizio di dicembre 2024. Sphere 3D sta avanzando con il rinnovo della flotta, avendo ora oltre 800 Bitmain S21 e S21 Pro online o ordinati, per un totale di .2 EH/s. L'azienda prevede una temporanea diminuzione di Bitcoin estratti il mese prossimo a causa della chiusura del sito di Granbury. L'amministratore delegato Patricia Trompeter ha dichiarato che, sebbene ci sarà una temporanea diminuzione in exahash e Bitcoin estratti, l'azienda crede che controllare i costi elettrici e aggiornare la flotta li metterà in una buona posizione per la redditività nella prima metà del 2025.
Sphere 3D Corp. (NASDAQ: ANY), una empresa de minería de Bitcoin, ha proporcionado una actualización estratégica y operativa para agosto de 2024. Los aspectos destacados incluyen:
- la llegada del segundo lote de actualizaciones de la flota Antminer S21
- 12,7 Bitcoin minados en agosto de 2024
- tasa de hash desplegada a fin de mes de 1,0 EH/s
La empresa está desarrollando un sitio de 12,5 MW en Iowa con energía a aproximadamente 4 centavos, con una fecha de finalización prevista para principios de diciembre de 2024. Sphere 3D está avanzando con la renovación de su flota, teniendo ahora más de 800 Bitmain S21 y S21 Pro en línea o pedidos, totalizando .2 EH/s. La empresa anticipa una caída temporal en los Bitcoin minados el próximo mes debido al cierre del sitio de Granbury. La CEO Patricia Trompeter declaró que, aunque habrá una caída temporal en exahash y Bitcoin minados, la compañía cree que controlar los costos de electricidad y actualizar la flota los posicionará bien para la rentabilidad en la primera mitad de 2025.
Sphere 3D Corp. (NASDAQ: ANY), 비트코인 채굴 회사가 2024년 8월에 대한 전략적 및 운영 업데이트를 제공했습니다. 주요 하이라이트는 다음과 같습니다:
- Antminer S21 플릿 업그레이드의 두 번째 배치 도착
- 2024년 8월에 채굴된 비트코인 12.7개
- 월말 배포 해시율 1.0 EH/s
회사는 아이오와에서 약 4센트의 에너지를 사용하는 12.5 MW 규모의 사이트를 개발 중이며, 2024년 12월 초 완료를 목표로 하고 있습니다. Sphere 3D는 현재 800대 이상의 Bitmain S21 및 S21 Pro가 온라인 또는 주문되어 있으며, 총 .2 EH/s의 플릿 리프레시 진행 중입니다. 회사는 Granbury 사이트를 종료함에 따라 다음 달에 채굴된 비트코인이 일시적으로 감소할 것이라고 예상하고 있습니다. CEO 패트리샤 트롬페터는 exahash와 채굴된 비트코인에서 일시적인 감소가 있을 것이라고 말했지만, 전기 비용을 관리하고 플릿을 업그레이드하면 2025년 상반기에 수익성에 좋은 위치에 있을 것이라고 믿고 있다고 밝혔습니다.
Sphere 3D Corp. (NASDAQ: ANY), une entreprise de minage de Bitcoin, a fourni une mise à jour stratégique et opérationnelle pour août 2024. Les points clés incluent :
- l'arrivée du second lot de mises à niveau de la flotte Antminer S21
- 12,7 Bitcoin extraits en août 2024
- taux de hachage déployé à la fin du mois de 1,0 EH/s
L'entreprise développe un site de 12,5 MW dans l'Iowa avec une énergie à environ 4 cents, visant une completion début décembre 2024. Sphere 3D progresse dans le renouvellement de sa flotte, ayant désormais plus de 800 Bitmain S21 et S21 Pro en ligne ou commandés, totalisant .2 EH/s. L'entreprise anticipe une baisse temporaire des bitcoins extraits le mois prochain en raison de la fermeture du site de Granbury. La PDG Patricia Trompeter a déclaré que, bien qu'il y ait une baisse temporaire d'exahash et de bitcoins extraits, l'entreprise croit que contrôler les coûts de l'électricité et mettre à niveau la flotte les positionnera bien pour la rentabilité dans la première moitié de 2025.
Sphere 3D Corp. (NASDAQ: ANY), ein Unternehmen für Bitcoin-Mining, hat ein strategisches und operatives Update für August 2024 bereitgestellt. Wichtige Highlights sind:
- Die Ankunft der zweiten Charge von Antminer S21 Flotten-Upgrades
- Im August 2024 wurden 12,7 Bitcoin abgebaut
- Monatsende entfaltete Hashrate von 1,0 EH/s
Das Unternehmen entwickelt einen 12,5 MW Standort in Iowa mit etwa 4 Cent Energie, mit dem Ziel der Fertigstellung Anfang Dezember 2024. Sphere 3D macht Fortschritte bei der Erneuerung seiner Flotte und hat nun über 800 Bitmain S21 und S21 Pros online oder bestellt, was insgesamt .2 EH/s ergibt. Das Unternehmen rechnet nächsten Monat mit einem vorübergehenden Rückgang der abgebauten Bitcoin aufgrund der Schließung des Granbury-Standorts. CEO Patricia Trompeter erklärte, dass es zwar einen vorübergehenden Rückgang in Exahash und abgebauten Bitcoin geben wird, das Unternehmen jedoch davon überzeugt ist, dass die Kontrolle der Stromkosten und die Aktualisierung der Flotte sie gut auf profitability in der ersten Hälfte des Jahres 2025 positionieren werden.
- Development of a 12.5 MW site in Iowa with low-cost energy (~4 cents)
- Addition of .2 EH/s to the fleet with Bitmain Antminer S21s and S21 Pros
- Maintaining debt-free status while upgrading mining equipment
- Decrease in Bitcoin mined from 16.8 in July to 12.7 in August 2024
- Reduction in mining revenue from $1.0 million in July to $0.8 million in August 2024
- Decrease in deployed miners from ~11,200 in July to ~8,900 in August 2024
- Anticipated temporary drop in exahash and bitcoin mined in the coming months
Stamford, Connecticut--(Newsfile Corp. - September 23, 2024) - Sphere 3D Corp. (NASDAQ: ANY) ("Sphere 3D"), a Bitcoin mining company, is providing a strategic and operational update for August 2024.
Key Highlights:
- Second batch of Antminer S21 fleet upgrades have arrived
- 12.7 Bitcoin mined in August 2024
- Month-end deployed hash rate was 1.0 EH/s
| Metrics | Aug 2023 | July 2024 | Aug 2024 |
| Bitcoin Mined | 58.3 | 16.8 | 12.7 |
| Bitcoin Sold | 65.7 | 22.0 | 12.6 |
| Mining Revenue | |||
| Bitcoin Holdings | 2.8 | 2.0 | 2.1 |
| Deployed Miners | ~12,450 | ~11,200 | ~8,900 |
| Month End Deployed Hash Rate (EH/s) | 1.3 EH/s | 1.2 EH/s | 1.0 EH/s |
Strategic Update:
We continue to proactively focus on the company's future growth through operational growth and strategic partnerships:
- As announced earlier this month, we are developing a 12.5 MW site in Iowa at an average of sub ~ 4 cent energy. The site will be built, developed and managed by Simple Mining LLC. The targeted completion date is early December 2024.
- We continue to take older machines offline and replace them with the latest generation models throughout the remainder of the year. We are progressing with our fleet refresh by taking delivery of our second batch of Bitmain Antminer S21s in September, which are coming online in Iowa. We now have over 800 Bitmain S21s and S21 Pros online or ordered, for a total of .2 EH/s.
- We anticipate a drop in bitcoin mined next month as we exit our Granbury site. Some of the older machines from Granbury will be brought online at another facility and some will be replaced with later generation models.
- While we grow our core operations, we continue our goal of merging with a company focused on vertical integration. We are continuing discussions with several potential partners.
CEO Comments
"We are excited to announce that we are partnering with Simple Mining on the development of our 12.5 MW site in Iowa. In addition, our second batch of S21s have arrived and are currently hashing in Iowa. This brings our total mix of S21s and S21 Pros to 800, or .2 exahash. Finally, we were able to facilitate a contract buyout with our hosting partner at the Granbury site. This will allow us to sell our older generation machines and purchase more Antminer S21 machines as well as partially fund development of the 12.5 MW site," explains Patricia Trompeter, CEO of Sphere 3D. She adds, "There will be a temporary drop in exahash and bitcoin mined over the next couple of months as we execute this transition of taking older machines offline, and replacing them with newer machines, but we believe that long-term controlling our cost of electricity and upgrading the fleet will position us well for profitability in the first half of 2025."
Production
As mentioned above, we added .2 EH/s to our fleet in the form of Bitmain Antminer S21s and S21 Pros. As we continue to "swap out the fleet" in batches, older machines will come offline to make room at our hosting partners for newer generation equipment. Gradually refreshing the fleet allows us to use existing working capital and maintain our debt free status.
About Sphere 3D
Sphere 3D Corp. (NASDAQ: ANY) is a cryptocurrency miner growing its industrial-scale Bitcoin 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 Sphere 3D, please visit Sphere3D.com.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "experts," "plans," "anticipates," "could," "intends," "target," "project," "contemplates," "believes," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions. Expectations and beliefs regarding matters discussed herein may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from the projected. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described in filings with the SEC, including Sphere 3D's reports filed on Form 10-K, Form 10-Q and Form 8-K and in other filings made by Sphere 3D with the SEC from time to time and available at www.sec.gov. These forward-looking statements are based on current expectations, which are subject to change.
Sphere 3D Contact
Kurt Kalbfleisch CFO, Sphere 3D
Investor.relations@sphere3d.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224155
FAQ
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