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      What Drove The Sphere 3D (ANY) Stock Higher In Extended Trades? - Stocks Telegraph

      By ST Staff

      Published on

      June 21, 2021

      7:48 AM UTC

      What Drove The Sphere 3D (ANY) Stock Higher In Extended Trades? - Stocks Telegraph

      Last checked, shares of Sphere 3D Corp. (ANY) were trading at $2.25 after hours, up 1.81%. A loss of -5.15% pushed the Sphere 3D stock price to $2.21 at the end of Friday’s session. The total number of shares traded decreased to 1.25 million shares from 6.51 million shares within the past 50 days. Shares of Sphere 3D have moved down by -17.54% over the past week and by -13.67% over the last year.

      ANY Stock has lost -25.08% over the last three months, and 49.32% over the past six months. Furthermore, Sphere 3D is currently worth $45.9 million and has 9.42 million outstanding shares. It seems that ANY stock has recovered in the after-hours trades after dropping in the regular session.

      What caused ANY stock to fluctuate?

      In addition to its HVE ConneXions brand, Sphere 3D also offers UCX ConneXions and SnapServer, which all help clients reach their IT goals. As part of their recently signed agreement and plan of merger, Sphere 3D and Gryphon Digital Mining have each committed to purchasing 125,000 Certified Emission Reduction (CERs) credits.

      • Gryphon will become the first crypto miner to become carbon negative by taking advantage of these credits, as well as supporting ESG commitments.
      • Gryphon and Sphere 3D are expanding their sustainable and environmental stewardship efforts.
      • Sphere 3D and Gryphon are estimated to remain carbon-negative for at least the next five years based on their current operations.
      • Despite the fact that Gryphon’s core business uses only renewable energy, it acknowledges that it has a nonexistent carbon footprint.
      • The carbon offset credits will be used for the global transportation of cryptocurrency mining machines, employee travel for company meetings, as well as miscellaneous emissions from staff travel and meals.

      Sphere 3D’s recent strategic move:

      Recently, Sphere 3D (ANY) signed an Agreement and Plan of Merger with Gryphon Digital Mining Inc, a privately-held company that specializes in bitcoin mining through renewable energy.

      • After the merger has been completed, Sphere 3D’s name will change to Gryphon Digital Mining Inc.
      • The merged company will focus on expanding Gryphon’s digital mining operations as well as optimizing its operations with Sphere 3D’s proprietary enterprise solutions.
      • A total of 111,000,000 common shares of Sphere 3D stock will be distributed to the shareholder of Gryphon upon completion of the Merger.
      • The board of directors of both companies has approved the transaction.
      • Sphere 3D expects that the merger will close in the third quarter of 2021.

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