By Jarrett Banks
Gryphon Digital Mining Inc., a privately-held company focused on the mining of bitcoin using renewable energy, is merging with Sphere 3D Corp. (Nasdaq: ANY), the companies said in a statement.
Sphere 3D Corp specializes in containerization, virtualization and data management solutions. The merged company will focus on expanding Gryphon’s digital mining operations and utilize Sphere 3D’s proprietary enterprise solutions, the statement said.
The merger is expected to close in the third quarter of 2021, subject to the approval of the stockholders of each company, and the shares to be issued in the merger being approved for listing on Nasdaq.
“Our entry onto the Nasdaq will give us heightened visibility in a dynamic market as we collaborate on our strategic vision,” said Rob Chang, CEO of Gryphon. Exec Edge previously interviewed Chang here.