Sphere 3D(US:ANY)2025-11-05 14:37Financial Performance - Sphere 3D reported revenue of $2.6 million for Q3 2025, an increase of 8.8% compared to $2.4 million in Q3 2024[6] - Loss from operations decreased by 23% to $4.0 million in Q3 2025, compared to $5.2 million in Q3 2024[9] - Total operating costs and expenses for Q3 2025 were $6.7 million, a decrease from $7.5 million in Q3 2024[9] Bitcoin Mining Operations - The company mined 23.0 Bitcoin during Q3 2025, a decrease of 40.5% from 38.7 Bitcoin in Q3 2024 due to higher curtailments and fewer miners online[6] - Sphere 3D replaced 1,500 older generation miners with approximately 900 newer generation S21+ miners[6] - As of September 30, 2025, Sphere 3D had a self-mined Bitcoin balance of 22.7 Bitcoin with a fair value of approximately $2.6 million[4] Cost Management - General and administrative expenses were reduced by approximately 40% to $1.8 million in Q3 2025, down from $3.0 million in Q3 2024[6] - Sphere 3D's total assets as of September 30, 2025, were $31.1 million, down from $43.2 million as of December 31, 2024[13] Capital Raising and Agreements - The company raised $4.1 million in gross proceeds through a warrant inducement[6] - The company entered into a new hosting agreement to support additional miners, enhancing its operational capacity[6]