Sphere 3D to acquire Cathedra Bitcoin in all-stock deal, expanding data center and crypto mining operations

Bitcoin mining company Sphere 3D is set to acquire crypto mining infrastructure provider Cathedra Bitcoin in an all-stock transaction, with Cathedra security holders receiving 49 percent of the combined business. The merger will create an entity managing 53MW of power capacity across five data centers located in Iowa, Kentucky, and Tennessee. Cathedra currently operates 45MW of owned power capacity and has an additional 15MW under construction, totaling 60MW under contract. The combined company, which will retain the Sphere name, also plans to assess opportunities in high-performance compute and AI infrastructure to leverage its operating footprint. The transaction is subject to court, regulatory, and shareholder approvals before completion.

Counterparts (2)

Seller

Cathedra Bitcoin

company · 1 deals

Buyer

Sphere 3D

company · 1 deals

Sphere 3D is a Bitcoin mining company with decades of enterprise data-services expertise, focused on sustainable industrial bitcoin mining and expanding its operations. It also offers IT solutions including containerization, virtualization, and data management.