Sphere 3D

Sphere 3D completes a $5.0 million private placement by selling 1,666,661 units, each comprising a common share and a warrant. Three directors, including chairman Timothy Hanley and CEO Joel Block, subscribed for about 333,332 units in total. The company also sold a site in Iowa for $1.5 million, agreed to sell roughly 5,500 mining rigs for about $3.0 million, and expects refunds of about $500,000 in deposits. Proceeds from the financing and asset sales are intended for development of AI and high-performance computing infrastructure in the TVA region; a 50-megawatt data center in Hopkinsville, Kentucky, is planned. The company is doing business as DarkHorse Technologies and the securities are subject to a six-month hold period; the closing remains subject to customary conditions and regulatory approvals. » More on de.investing.com

Shareholders of Sphere 3D approved the rebranding to DarkHorse Technologies; the company reserved the NASDAQ ticker symbol DRK and will temporarily continue trading under ANY. The legal name change will take effect with the relocation of its registered office from Ontario to British Columbia once regulatory steps are completed. DarkHorse will focus on building and operating scalable infrastructure for AI and high-performance computing and currently has about 53 MW of operational capacity with a development pipeline of more than 100 MW. » More on de.investing.com

Sphere 3D reported a net loss of $13.8 million for the quarter ended June 30, 2026, on revenue of $2.5 million (+28% versus Q1). The result includes impairments of $7.0 million on property, plant and equipment and $588,000 on intangible assets; cash and cash equivalents were $2.8 million and Bitcoin holdings were $1.2 million. The company operates roughly 53 MW of power capacity, has co‑mining agreements with Bitdeer for 30 MW and brought a site online after the quarter; two further sites are planned by November 2026. Sphere 3D plans to retrofit existing facilities for AI and high‑performance computing applications, is evaluating a 15‑MW conversion and a new 50‑MW data center at the Hopkinsville site, and proposes a name change to DarkHorse Technologies with a shareholder vote on August 24, 2026. » More on de.investing.com