Sphere 3D to explore debt financing options

Sphere 3D (NASDAQ:ANY) said Thursday it will explore debt financing options to raise incremental capital to fund its growth and maximize value to shareholders. ANY will evaluate its potential debt financing options to fund the purchase of S19j Pro bitcoin miners, the expansion of its mining fleet, and its growth into new areas of cryptocurrency and blockchain. There is no timeline set for this process and no assurance that ANY will enter into a debt agreement or complete any financing transaction as a result of the review. This follows ANY appointing Patricia Trompeter as its new CEO on Tuesday, among other management changes. Additionally, on Monday, ANY had scrapped its merger with Gryphon Digital Mining.