Sphere 3D signs LOI to acquire 12.5 MW bitcoin mining site in Iowa with sub-4c power; target operational by Dec 2024

Sphere 3D Corp.

12.5 MW site in Iowa with average power cost below 4 cents per kWh.
Facility expected to be operational by early December 2024.
3-year managed services agreement with Simple Mining to operate the site.
Acquisition funded with existing working capital; company remains debt-free.
CEO cites reduced hosting exposure and improved marginal cost to mine.

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