Sphere 3D Corp. (ANY) shares declined 2.03% in after-hours on Thursday, August 26, 2021, and closed the daily trading at $4.35. however, in the regular trading session on Thursday, ANY’s stock gained 3.74%. ANY shares have risen 131.25% over the last 12 months, and they have moved up 23.68% in the past week. Over the past three months, the stock has gained 221.74%, while over the past six months, it has jumped 70.77%.
Minority Equality Public Offering
On August 26, 2021, Sphere 3D Corp. (ANY) reported that Minority Equality Opportunities Acquisition Inc, a company that Sphere 3D has an indirect interest in, announced the pricing of their initial public offering of 11,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one share of Class A common stock and one redeemable warrant. Each warrant will entitle the holder thereof to purchase one share of Class A common stock at $11.50 per share. The Minority Equality units are expected to be listed on the Nasdaq Capital Market and trade under the ticker symbol “MEOAU” beginning today, August 26, 2021.
ANY agreement with Gryphon Digital Mining
On August 20, 2021, Gryphon Digital Mining and Sphere 3D Corp (ANY) entered into an agreement to purchase an additional 250,000 Certified Emission Reductions, with each company purchasing 125,000 credits. These credits will help support the two companies ESG commitments in light of the recently announced initiatives to substantially increase crypto mining capacity.
ANY recent financial results announcement
On August 16, 2021, Sphere 3D Corp (ANY) reported financial results for its second quarter ended June 30, 2021.
Q2 2021 financial highlights
- ANY reported revenue of $0.9 million in both the second quarters of 2021 and 2020.
- The gross margin was 43.7% in Q2 2021 compared to 49.6% for the second quarter of 2020.
- Total operating expenses were $3.9 million in Q2 2021, compared to $2.4 million in Q2 2020.
- It suffered a net loss of $3.0 million, or a net loss of $0.19 per share for Q2 2021, compared to a net loss available to common shareholders of $1.9 million, or a net loss of $0.41 per share, for the second quarter of 2020.
ANY agreement with Hertford
On August 5, 2021, Sphere 3D Corp. (ANY) entered into an agreement with Hertford Advisors Ltd to provide a six-month exclusive right to assume all of Hertford’s rights to several bitcoin mining agreements.
The Company has successfully assumed and executed the first Bitcoin Agreement directly with the manufacturer, for the purchase of up to 60,000 new bitcoin mining machines, with deliveries to commence in November 2021 and continue over the next ten months. Upon completion of delivery, this will give Sphere 3D 5.7 Exahash of computing power.
Conclusion
The recent public offering from Minority Equality may be the reason behind its loss in the after-hours on Wednesday because ANY has an interest in Minority Equality. Let’s see how it performs on the last trading day of the week.
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