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Sphere 3D, Gryphon Sign Hosting Services Deal With Core Scientific
The agreement covers as many as 71,000 bitcoin mining machines.
Updated May 11, 2023, 5:50 p.m. Published Oct 13, 2021, 11:55 a.m.
Sphere 3D, the Nasdaq-listed data-management company that’s being bought by Gryphon Digital Mining, reached an agreement for Core Scientific to host and manage about 230 megawatts of bitcoin mining capacity.
- The agreement covers 71,000 bitcoin mining machines, including 60,000 the companies agreed to buy in an August deal with Hertford Advisors.
- The hosting arrangement is the largest in Core Scientific’s history, according to a statement Wednesday.
- The mining machines will be installed over a period of 14 months and use 100% net carbon neutral power.
- The merger between Sphere (NASDAQ: ANY) and Gryphon is expected to be completed in the fourth quarter.
See also: Core Scientific to Build 300MW Blockchain Data Center in Texas
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Michael Saylor's Strategy Hangs on to Spot in Nasdaq 100 Index
The annual Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but bitcoin treasury company Strategy hung onto its spot.
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- Strategy (MSTR) will remain in the Nasdaq 100 index despite a major reshuffle, which saw several household names dropped.
- The firm's business model, which involves stockpiling bitcoin, has drawn criticism from analysts and index providers, with MSCI considering excluding crypto treasury companies from its benchmarks.
- The Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but Strategy's bitcoin-heavy strategy secured its spot.
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