Sphere 3D Corp (ANY) has released an update.
Sphere 3D Corp. has reported a significant year-over-year growth for fiscal year 2023, with revenue soaring to $21.9 million, primarily due to a substantial increase in Bitcoin mining output. The company achieved a 409% increase in Bitcoin mined, reaching 667 units, and enhanced its operational efficiency by increasing the operating hashrate to 1.3 EH/s and streamlining operations. Despite these advancements, Sphere 3D experienced a net loss of $23.4 million, but reduced its overall operating costs and expenses by $111.8 million from the previous year.
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