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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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