Cash BalanceSphere's revaluation of investments and some conversion to cash bolstered cash balance to complement the operating improvement.
Expense ManagementThe star of the show was expense management, where SG&A declined roughly $1M sequentially, and gross mining margin ticked up primarily on the elimination of poorer performing hosting partners.
ProfitabilityThe 8MW power deal offers a rate almost half of Sphere's hosting agreements, boosting profitability and moving the company toward cash generation.