Sphere 3D Corp. (ANY) stock prices were up by 14.46% as of the market closing on September 27th 2021. This brought the price per share up to USD$6.73 at the end of the trading day. Subsequent premarket fluctuations have seen the stock fall by 5.20%, bringing it down to USD$6.38.
ANY Stock Miner Purchase
September 21st 2021 saw ANY stock announce a USD$85 million payment towards its previously announced purchase order for mining rigs. The company purchased 60,000 Antminer S19j Pros, which are currently considered the industry leading miner. Delivery of the purchased bitcoin mining rigs will commence in November of 2021. The company will be taking delivery of additional capacity from previous reports as a result of certain adjustments to the original miner model mix. Accordingly, the company reports an expected total of 6.0 exohash of capacity once these deliveries are completed.
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Expansion of Exohash Capacity
Furthermore, ANY stock expects a total capacity of 6.7 exohash following the closing of the Gryphon Digital Mining merger. This will facilitate the capability of producing more than 1,300 bitcoin per month, on the basis of current difficulty rates. The company has raised more than USD$200 million over the last few weeks. A portion of the capital generated will be allocated towards the initial purchase of miners in an effort to establish itself as a top miner in the industry. The first miners are up and running at Gryphon, with a total of 7,200 being delivered to them. The combined company is set for the delivery of 67,200 state of the art machines, thereby consolidating its position as a market leader.
Synergistic Collaboration
The company is keen to collaborate with its strategic partnership, which will be supplying ANY stock with the fastest model mining rigs on the market. This will facilitate the company’s goal of becoming the largest carbon neutral miner in the world. The agreement and plan of merger with Gryphon Digital Mining is forecasted to close in the last quarter of the fiscal year 2021.
Future Outlook for ANY Stock
ANY stock is keen to capitalize on the opportunities presented to it in the burgeoning global bitcoin marketspace. With these recent developments, the company is poised to set the stage for the consolidation and expansion of its position as a leading miner. Current and potential investors are hopeful that management will be able to effectively allocate the resources at their disposal. In conjunction with the hopeful deregulation of the crypto space in China, the company is anticipating significant and sustained increases in shareholder value over the long term.
