---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-26-001339"
form_type: "8-K"
ticker: "ANY"
cik: "0001591956"
company_name: "Sphere 3D Corp."
filed_at: "2026-03-09T23:59:59+00:00"
generated_at: "2026-05-15T17:42:41.917839+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sphere 3D FY 2025 revenue $11.2M (down 32%); mined 111.6 BTC; merger with Cathedra pending

## Summary
- Revenue $11.2M vs $16.6M in FY 2024, down ~32% due to April 2024 halving and equipment replacement.
- Operating costs decreased $4.8M to $33.2M; G&A reduced 33% to $8.3M.
- Mined 111.6 Bitcoin in FY 2025; held 37.3 BTC at year-end.
- In March 2026 announced definitive agreement to combine with Cathedra Bitcoin, Inc.
- Replaced older miners with ~2,300 newer S21+ models; fleet efficiency improved to <19.0 J/th.

## SEC filing metadata
- accession: 0001062993-26-001339
- form_type: 8-K
- ticker: ANY
- cik: 0001591956
- company_name: Sphere 3D Corp.
- filed_at: 2026-03-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1591956/000106299326001339/0001062993-26-001339-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1591956/000106299326001339/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-26-001339
- JSON: https://secwatch.observer/filing/0001062993-26-001339.json
- Plain text: https://secwatch.observer/filing/0001062993-26-001339.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.