Sphere 3D Q3 2024: Bitcoin mined drops 79% YoY to 38.7 BTC; net income $0.1M vs loss

Sphere 3D Corp.

2024-Q3 EPS reported -$0.12 revenue$13,967,000

Mined 38.7 Bitcoin in Q3 2024, down from 181.7 BTC in Q3 2023 (79% YoY decline).
Mining revenue fell to $2.4M from $5.1M YoY; net income of $0.1M ($0.01 EPS) vs net loss of $6.3M.
Received $3.0M from a hosting contract buyout; other income totaled $5.8M.
Operating costs decreased to $7.5M from $12.1M YoY; ended quarter with 0.7 EH/s.
Entered LOI to acquire a 12.5 MW Iowa site with average sub 4c energy.

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