Sphere 3D signs 30 MW co-mining deal with Bitdeer across 3 sites

Sphere 3D Corp. (NASDAQ: ANY) has entered into co-mining agreements with Bitdeer Technologies Group (NASDAQ: BTDR) to host 30 megawatts of capacity across three data center sites in Tennessee and Kentucky, according to a company press release.

Under the agreements, Bitdeer will deploy its SEALMINER A2 Pro Air mining hardware at the three sites, and the two companies will share net mining proceeds. Each agreement carries an initial one-year term, renewable for an additional year unless either party opts out.

Sphere 3D said the arrangements allow the company to generate mining economics from existing power capacity while it continues evaluating potential uses of its infrastructure, including applications in artificial intelligence and high-performance computing.

"This agreement allows us to put 30 megawatts of capacity to work with a leading public company in the sector, generate current mining economics, and preserve flexibility as we continue evaluating AI and high-performance compute opportunities across our sites," said Joel Block, Chief Executive Officer of Sphere 3D.

Sphere 3D operates approximately 53 MW of power capacity across multiple U.S. data center locations following its business combination with Cathedra Bitcoin. The company said it assesses each site based on power availability, interconnection profile, capital needs, and technical feasibility.

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