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

C

Cathedra Bitcoin

company

Buyer

Sphere 3D

company

Toronto-based technology company focused on digital infrastructure, particularly data centers and GPU-accelerated computing for AI workloads. Owns and operates data center assets across North America through subsidiaries, with a strategic pivot toward high-performance computing and sustainable operations.