Sphere 3D (NASDAQ:ANY) shares are trading higher. The company last week announced an agreement to acquire exclusive rights for the assignment of cryptocurrency mining assets and is gaining today amid strength in cryptocurrencies.
Sphere 3D entered into the agreement with Hertford Advisors. The agreement provides Sphere 3D a six month exclusive right to assume all of Hertford's rights to a number of Bitcoin (CRYPTO: BTC) mining agreements.
Sphere 3D successfully executed the first Bitcoin agreement for the purchase of up to 60,000 new bitcoin mining machines.
"We are pleased to have the opportunity to place Sphere 3D as a leader in the space with state of the art miners, in a very competitive market where time to delivery is paramount," said Peter Tassiopoulos, CEO of Sphere 3D.
Sphere 3D is a provider of data management and virtualization solutions.
Price Action: Sphere 3D is making a new 52-week high in trading today.
At last check Monday,the stock was up 25.30% at $6.09.
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