Sphere 3D, Gryphon Sign Hosting Services Deal With Core Scientific

The agreement covers as many as 71,000 bitcoin mining machines.

Oct 13, 2021 at 11:55 a.m. UTC
Updated Oct 13, 2021 at 1:15 p.m. UTC

Sphere 3D, the Nasdaq-listed data-management company that’s being bought by Gryphon Digital Mining, reached an agreement for Core Scientific to host and manage about 230 megawatts of bitcoin mining capacity.

  • The agreement covers 71,000 bitcoin mining machines, including 60,000 the companies agreed to buy in an August deal with Hertford Advisors.
  • The hosting arrangement is the largest in Core Scientific’s history, according to a statement Wednesday.
  • The mining machines will be installed over a period of 14 months and use 100% net carbon neutral power.
  • The merger between Sphere (NASDAQ: ANY) and Gryphon is expected to be completed in the fourth quarter.

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Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.