Why Bitcoin- And Ethereum-Related Stock Sphere 3D Is Popping Off Today

Sphere 3D Corp ANY shares are trading higher by 12.95% to $0.67 Friday morning after the company provided Bitcoin production and mining updates for August 2022.

Among the highlights from August for Sphere 3D:

• 1,080 miners were released from U.S. Customs and are on the way to Compute North in Texas
• Production for the month totaled 12.76 Bitcoin
• Total Bitcoin holdings were 74.81
• Operations achieved 140.0 BTC/EH efficiency

CEO Patricia Trompeter commented: "We continue to maximize the performance of our highly efficient fleet of S19j Pros. The fleet again achieved very high BTC/EHs efficiency and maintained average uptimes at the top of industry averages. For the past several months, our fleet performed as well as, or better than, most fleets in the industry."

Sphere 3D is also trading higher in sympathy with the price of Bitcoin BTC/USD and Ethereum ETH/USD Friday morning.

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According to data from Benzinga Pro, Sphere 3D has a 52-week high of $8.69 and a 52-week low of $0.52.