Sphere 3D, the Nasdaq-listed data management company acquired by Gryphon Digital Mining, has reached an agreement for Core Scientific to host and manage approximately 230 megawatts of bitcoin mining capacity.
- The deal covers 71,000 bitcoin mining machines, including 60,000 that the companies agreed to buy under a deal reached in August with Hertford Advisors.
- The hosting arrangement is the largest in Core Scientific history, according to a statement Wednesday.
- The mining machinery will be installed over a period of 14 months and will use 100% carbon neutral net electricity.
- The merger between Sphere (NASDAQ: ANY) and Gryphon is expected to be finalized in the fourth quarter.
See also: Core Scientific to Build 300MW Blockchain Data Center in Texas