Sphere 3D Receives Buy Rating Ahead of Gryphon Digital Mining Merger

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Sphere 3D, a data management company that trades on the Nasdaq, and privately held Gryphon Digital Mining, which focuses on mining bitcoin through 100% renewable energy, announced in June they were going public through a reverse merger. Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77% of the combined company. Sphere holders will own the remaining 23%.

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