Sphere 3D to Increase Bitcoin Mining Capacity with Purchase of 60,000 NM440 BTC Miners | Financial Buzz

Sphere 3D to Increase Bitcoin Mining Capacity with Purchase of 60,000 NM440 BTC Miners

Sphere 3D Corp. (NASDAQ: ANY) has reported entry into an agreement to purchase 60,000 units of new NM440 bitcoin miners from NuMiner Global, Inc.  The NM440 was first introduced to the market on February 3rd, 2022 and features a hash rate of 440 TH/s and a power efficiency ratio of 20.2J/T. 

“Sphere 3D is proud to be NuMiner’s launch partner. We continue to focus on the growth of our mining operations, and the agreement to purchase the NM440 provides us the ability to increase our EH/s capacity on order by 440% over the next 13 months. The NM440 should also increase our overall efficiency, further improving margins and profitability as we scale our mining operations,” said Peter Tassiopoulos, Chief Executive Officer of Sphere 3D. “The reduction in energy consumption per TH/s further exemplifies our shared commitment to ESG leadership in the industry.”

Mr. Tassiopoulos added, “I look forward to welcoming Tony Melman to the Board of Sphere 3D. Tony has extensive experience in the technology sector, M&A and governance, and will be a welcome addition.”  Iain Kennedy, Chief Executive Officer of NuMiner Global, said, “Our agreement with Sphere 3D provides an enterprise scale deployment path for our next generation bitcoin miners. By significantly reducing the cost and energy consumption of bitcoin mining, we are accelerating an industry shift toward renewable and sustainable energy. In addition, this agreement allows Sphere 3D to quickly expand their hashrate and become one of the largest bitcoin miners in the global bitcoin mining industry.”

Rob Chang, CEO of Gryphon Digital Mining, said, “We are looking forward to joining the Sphere team and partnering with NuMiner with its cutting-edge technology in the NM440. This collaboration will continue our competitive advantage of focusing our operations on the most efficient miners available in the market. Gryphon Digital Mining, as one of the first signatories of the Crypto Climate Accord, supports NuMiner’s focus on prioritizing customers that are carbon neutral.”

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