Sphere 3D skyrockets on bitcoin mining deal with Hertford Advisors

Sphere 3D (NASDAQ:ANY) inks an agreement with Hertford Advisors to provide a six-month exclusive right to assume all of Hertford's rights to several bitcoin mining agreements. The deal includes the rights to secure up to 220k miners on pre-negotiated terms and a lease for a 200k sq. ft. carbon-neutral facility for Bitcoin Mining. The Company has successfully assumed and executed the first Bitcoin Agreement directly with the manufacturer to purchase up to 60,000 new bitcoin mining machines. The 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. If all contracts are executed, Sphere 3D will have 21.5 Exahash computing power. Upon assignment of the contracts, the Company will issue 4.5M Common Shares to Hertford Advisors, Ltd. Additional consideration will be granted as other key milestones are achieved. Shares +40% premarket.