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.

On September 1, 2026, Sphere 3D Corp. entered into a definitive agreement to sell its Iowa site to Simple mining, LLC for $1.5 million, receiving $300,000 in cash and executing an interest-free promissory note for the remaining $1.2 million payable over 12 months. Concurrently, the company signed a binding term sheet with RepairBit, LLC to sell its entire legacy fleet of approximately 5,500 proprietary mining machines for aggregate proceeds of roughly $3.1 million, with deliveries occurring over a 90-day period starting September 1, 2026. Sphere 3D Corp. operates in the cryptocurrency mining industry.

On August 24, 2026, Sphere 3D Corp. shareholders approved a continuance from Ontario to British Columbia and a name change to DarkHorse Technologies Inc., with the legal change effective upon completion of regulatory steps in the coming weeks. The company will immediately begin operating as DarkHorse Technologies and intends to trade on Nasdaq under the ticker symbol "DRK" following the name change, pending exchange procedures. Additionally, U.S. Customs and Border Protection asserted Chinese origin supplemental import tariffs on certain Bitcoin miners purchased in 2022 by a subsidiary. The company disputes these allegations, citing certificates of non-Chinese origin, but faces potential tariff liability of approximately $2.2 million plus statutory interest if the CBP prevails. Sphere 3D Corp. operates as a digital infrastructure company focused on scalable power and data center assets for high-performance computing and AI workloads.

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.

Sphere 3D Corp.'s board adopted a limited-duration shareholder rights plan (poison pill) to protect against unsolicited takeovers and creeping acquisitions following the substantial accumulation of common shares. One right attaches to each outstanding voting share as of the record time on August 20, 2026. The rights trigger if an acquiring person accumulates 20% or more of the company's voting shares. Upon triggering, non-acquiring holders may purchase additional shares at a substantial discount to market price. The plan expires on August 10, 2027, unless redeemed or exchanged earlier. Sphere 3D Corp. operates scalable power and data center assets for high-performance computing, AI workloads, and digital asset infrastructure.