Why This Crypto Mining Stock Soared 26% Today

why this crypto mining stock soared 26 today

Sumary of Why This Crypto Mining Stock Soared 26% Today:

  • What happened Shares of Sphere 3D (NASDAQ:ANY) jumped 26% on Wednesday after its future merger partner Gryphon Digital Mining announced it had received a shipment of machines that will be used to mine Bitcoin (CRYPTO:BTC) in a carbon-neutral manner.
  • So what On Wednesday, Gryphon Digital Mining announced it had installed its first batch of 7,200 S19J Pro Antminers and will continue to receive 600 machines on a monthly basis.
  • To do so, it has agreed to merge with Gryphon Digital Mining.
  • ) To help finance purchases of Bitcoin mining equipment, Sphere 3D is raising $192 million by selling shares of common stock and warrants.
  • Along with the 7,200 machines Gryphon is installing, Sphere 3D plans to buy 60k crypto mining machines that will be powered by renewable energy.
  • Now what Bitcoin mining is an exciting development for some investors, especially for those who are bullish on cryptocurrencies, in general.

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