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Bitcoin mining company Cathedra Bitcoin merges with Sphere 3D to expand into AI service sector
Deep Tide TechFlow News, March 7th, according to Blockspace reports, Bitcoin mining company Cathedra Bitcoin announced a merger agreement with technology company Sphere 3D through a stock-for-stock transaction. After the merger is completed, the new company will retain the Sphere 3D name and NASDAQ listing status, and will continue operating five data centers in Tennessee, Kentucky, and Iowa with a total capacity of 53 MW and 1.2 EH/s of Bitcoin mining infrastructure. It is reported that Cathedra Bitcoin shareholders will receive 49% of the issued shares after the merger, with future plans to expand to 100 MW of operational capacity and to develop AI and high-performance computing (HPC) services.