- Bitcoin mining company Sphere 3D Corp ANY reported an FY21 revenue decline of 23.3% year-on-year to $3.72 million.
- The gross margin contracted 80 bps to 45.6%. Operating expenses more than doubled to $21.4 million.
- EPS loss was $(0.58) versus $(0.98) last year.
- Sphere 3D held $54.4 million in cash and equivalents.
- CEO Peter Tassiopoulos said, "We successfully pivoted to pursue opportunities in the cryptocurrency mining industry and advance our ESG initiatives."
- "In 2021, we entered into an agreement to purchase 60,000 Bitmain S19j Pro Bitcoin Miners, representing over 6.0 exahash of capacity. We entered into agreements with Gryphon Digital Mining to manage the operation of the machines and with Core Scientific to host them."
- Price Action: ANY shares traded lower by 2.28% at $2.14 on the last check Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.