Sphere 3D Shows Profitable Q2 Amidst Mining Challenges

Sphere 3D (ANY) has released an update.

Sphere 3D, a Bitcoin mining company, reported a profitable second quarter in 2024 with a net income of $2.1 million, bouncing back from a net loss in the previous year. Despite challenges like a 50% reduction in block rewards and operational interruptions, the company successfully mined 70.7 Bitcoin and recognized a significant $7.3 million unrealized gain from equity securities investments.

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