Sphere 3D Signs $1.7B Deal to Buy 60K NuMiner Machines

Sphere 3D Signs .7B Deal to Buy 60K NuMiner Machines
Sphere 3D (ANY), the data management firm that is merging with bitcoin miner Gryphon Digital Mining in a SPAC transaction, has signed a deal with mining computer maker NuMiner Technologies to purchase 60,000 its high-end NM440 machines for $1.7 billion.Sphere 3D will fund the deal with about $400 million of capital stock, $29 million in cash, an option to utilize up to $1.1 billion in vendor purchase financing and up to $185 million of additional milestone payments, according to a statement.Shares of Sphere 3D were rising 25% in post-market trading on Thursday after the announcement of the deal.NuMiner said that…