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Seeking Alpha 2022-10-06 14:25:14

Sphere 3D mines least amount of bitcoins since March as mining difficulty climbs

Sphere 3D's (NASDAQ:ANY) bitcoin (BTC-USD) production stood at 11.06 in September, the lowest level since March, due to an increase in mining difficulty (competition) and a shorter month, it said Thursday. It's bitcoin (BTC-USD) holdings, though, has grown sequentially since it started mining operations in Q1 2022, marked at 78.06 in September. Of note, the difference between BTC mined and Sphere 3D's (ANY) holdings (67 BTC in September) is the amount the company used to fund working capital.Bitcoin (BTC-USD) held by the company represents a fair market value of about $1.52M based on the BTC price of $19,415 on September 30, it said. The miner was operating ~1K S19j Pros miners delivering a production capacity of ~100 petahashes per second. Previously, (Sep. 20) Sphere 3D secures delivery of 2,946 S19j Pros from U.S. customs. 

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