Cathedra Bitcoin and Sphere3D Reach Merger Agreement to Jointly Build Bitcoin Mining Company

PANews reported on March 7th that, according to Blockspace, Bitcoin mining company Cathedra Bitcoin announced an all-stock merger agreement with technology company Sphere 3D. Upon completion of the merger, the new company will retain the Sphere 3D name and Nasdaq listing, and will maintain its 53 MW capacity and 1.2 EH/s Bitcoin mining infrastructure operating in five data centers across Tennessee, Kentucky, and Iowa. Cathedra Bitcoin shareholders will reportedly receive 49% of the merged company's issued shares. The company plans to further expand its operational capacity by 100 MW, as well as provide AI and high-performance computing (HPC) services.