Sphere 3D Corp. reported financial results for the second quarter ended June 30, 2026, following its combination with Cathedra Bitcoin Inc. on June 1, 2026. The company posted revenue of $2.5 million and a net loss of $13.8 million, driven by transaction-related expenses and impairment charges. Cash and cash equivalents stood at $2.8 million, with Bitcoin holdings valued at $1.2 million. Sphere 3D operates approximately 53 MW of power capacity and has entered co-mining agreements with Bitdeer covering 30 MW across Tennessee and Kentucky. The company is advancing a strategy to convert legacy mining infrastructure into modular AI and high-performance computing data centers, including potential conversions at Hopkinsville. Additionally, the firm proposed rebranding as DarkHorse Technologies Inc., subject to shareholder approval. Sphere 3D Corp. operates in the digital infrastructure industry, focusing on scalable power and data center assets for high-performance computing and AI workloads.
