Cathedra Bitcoin and Sphere 3D reach merger agreement to jointly establish a bitcoin mining company

PANews, March 7 — According to Blockspace, bitcoin mining company Cathedra Bitcoin has announced that it has reached an all-stock merger agreement with technology company Sphere 3D. After the merger, the new company will retain the Sphere 3D name and its Nasdaq listing status, and will continue to operate five data centers in Tennessee, Kentucky, and Iowa, with a capacity of 53 MW and 1.2 EH/s of bitcoin mining infrastructure. Cathedra Bitcoin shareholders will receive 49% of the issued shares of the merged company. The company also plans to pursue growth opportunities to expand to 100 MW of operational capacity, as well as AI and high-performance computing (HPC) services.