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.