Sphere 3D and Cathedra Bitcoin Merge to Create Bitcoin Mining Giant

A significant development has taken place in the bitcoin mining industry as Cathedra Bitcoin and Sphere 3D have announced an all-stock merger agreement. The newly formed company will retain the Sphere 3D name and its Nasdaq listing status, ensuring continuity in its operations.

Following the merger, the combined entity will operate five data centers located in Tennessee, Kentucky, and Iowa. These facilities boast a substantial capacity of 53 MW and 1.2 EH/s of bitcoin mining infrastructure.