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

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

Updated May 11, 2023, 5:50 p.m. Published Oct 13, 2021, 11:55 a.m.

Core Scientific's mining facility in Calvert City, Ky. (Core Scientific)

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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Bitcoin Mining Sphere 3D

Sheldon Reback

Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.