Bitcoin miner Sphere 3D's Q3 operating loss narrows, production declines
Overview
Sphere 3D's Q3 revenue rises to $2.6 mln from $2.4 mln
Company reduced Q3 operating loss by 23% yr/yr to $4.0 mln
Bitcoin production decreased due to fewer miners online and higher curtailments
Outlook
Sphere 3D expects a 25% increase in deployed EH/s in Q4 2025
Company focuses on cost management and operational optimization
Sphere 3D aims to enhance efficiency and resilience
Result Drivers
MINER UPGRADE - Sphere 3D replaced 1,500 older miners with 900 newer S21+ models to enhance efficiency
COST MANAGEMENT - General and administrative expenses reduced by 40% to $1.8 mln, aiding in lowering operating loss
CAPITAL RAISE - Executed warrant inducement generating $4.1 mln to support expansion and operations
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $2.60 mln |
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"
Wall Street's median 12-month price target for Sphere 3D Corp is $3.00, about 77.3% above its November 3 closing price of $0.68
Press Release: ID:nNFC832Hs6
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