Sphere 3D Q2 2025 revenue $3.0M (down 36% YoY); Bitcoin production 30.9 vs 70.7

Sphere 3D Corp.

2025-Q2 EPS reported -$0.26 revenue$5,835,000

Net income of $1.7M ($0.06 EPS) vs $2.1M ($0.11 EPS) in Q2 2024; revenue fell to $3.0M from $4.7M.
Bitcoin production dropped 56% YoY to 30.9 due to weaker post-halving economics and hosting transition.
Operating costs and expenses reduced 46% to $5.6M; loss from operations improved 54% to $2.6M.
Investment gain of $4.3M vs $7.8M a year ago; self-mined Bitcoin balance 20.5 (fair value ~$2.2M).
De-commissioning older miners and replacing with newer generation machines; no guidance provided.

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