Sphere 3D Corp., a Bitcoin mining company listed on NASDAQ under the ticker ANY, released its financial results for the third fiscal quarter ending September 30, 2024, on November 14, 2024. The company reported mining 38.7 Bitcoin during the quarter and ended with a hashrate of 0.7 EH/s. Sphere 3D's Bitcoin holdings were valued at approximately $0.08 million. The company's mining revenue for the quarter was $2.4 million, a decrease from $5.1 million in the same period the previous year. Other income for the quarter was significantly higher at $5.8 million, largely due to a $3.0 million inflow from exiting a hosting contract. Operating costs and expenses decreased to $7.5 million from $12.1 million year-over-year. Net income for the quarter was $0.1 million, or $0.01 per basic share and $0.005 per diluted share...Show More

Sphere 3D Corp., a Bitcoin mining company listed on NASDAQ under the ticker ANY, released its financial results for the third fiscal quarter ending September 30, 2024, on November 14, 2024. The company reported mining 38.7 Bitcoin during the quarter and ended with a hashrate of 0.7 EH/s. Sphere 3D's Bitcoin holdings were valued at approximately $0.08 million. The company's mining revenue for the quarter was $2.4 million, a decrease from $5.1 million in the same period the previous year. Other income for the quarter was significantly higher at $5.8 million, largely due to a $3.0 million inflow from exiting a hosting contract. Operating costs and expenses decreased to $7.5 million from $12.1 million year-over-year. Net income for the quarter was $0.1 million, or $0.01 per basic share and $0.005 per diluted share, a notable improvement from a net loss of $6.3 million, or $0.50 per share, in the third quarter of 2023. CEO Patricia Trompeter highlighted the company's focus on reducing reliance on high-cost hosting partners and increasing vertical integration, as well as the strategic steps taken to improve hosting solutions and build out infrastructure.