Sphere 3D(ANY)2025-05-15 00:43Financial Performance - Sphere 3D reported a net loss of 0.32 per share, for Q1 2025, compared to a net loss of 0.27 per share, in Q1 2024[10]. - Revenue for Q1 2025 decreased to 6.9 million in Q1 2024, primarily due to weaker post-halving economics and downtime during the transition away from high-hosting contracts[7]. - Operating costs and expenses for the quarter were 8.8 million in Q1 2024[7]. - Investment loss for Q1 2025 was 2.7 million in Q1 2024[7]. Bitcoin Production - Bitcoin production in Q1 2025 was 30.5 Bitcoin, a significant decrease of 78.9% compared to 144.8 Bitcoin produced in Q1 2024[7]. - The company had a self-mined Bitcoin balance of 22.7 Bitcoin with a fair value of approximately 2.8 million from 34.3 million as of March 31, 2025, down from $43.2 million at the end of 2024[14]. Legal and Operational Developments - The company reached a settlement agreement with Gryphon Digital Mining, resulting in the complete dismissal of outstanding litigation without any payments made[7]. - Sphere 3D's new hosting site in Iowa was fully energized in March 2025, and a managed services agreement was established with Simple Mining[7].