Sphere 3D (NASDAQ:ANY) fell 11% after-hours after announcing financial results for Q3 ended September 30, 2021. Revenue was $1.04M, compared to $0.9M for Q3 2020, an increase of 16.9%. However, gross margin for Q3 2021 fell to 46.6%, vs. 60.0% in prior year. Net loss widened to $2.6M, or $0.07 per share in Q3, compared to $1.2M, or $0.17 per share, for Q3 2020. "We have secured an agreement with Gryphon Digital Mining to have Core Scientific host and manage about 230 megawatts of bitcoin mining capacity, which covers over 71,000 bitcoin mining machines," stated Peter Tassiopoulos, CEO. Mr. Tassiopoulos further added, "We also sponsored our first SPAC, Minority Equality Opportunities Acquisition (MEOAU) which successfully closed on an upsized $126.5 million IPO during the quarter." The company is actively working towards completion of the merger, and plan to provide further updates as we move towards closing the transaction. SA contributor BOOX Research
