Sphere 3D Corp. concluded a $5.0 million private placement of 1,666,661 units at $3.00 per unit, with closing on September 11, 2026. Each unit includes one common share and a five-year warrant exercisable at $3.50. Insiders, including Chairman Timothy Hanley and CEO Joel Block, subscribed for approximately $1.0 million worth of units. Concurrently, the company announced strategic divestitures to fund AI development: it agreed to sell its Iowa site and legacy mining fleet for a combined ~$2.0 million and ~$3.0 million respectively. Proceeds will support a proposed 50 MW data center in Hopkinsville, Kentucky. Sphere 3D Corp., doing business as DarkHorse Technologies, operates digital infrastructure assets for high-performance computing and AI workloads.
