Bitcoin Mining Company Gryphon to Merge with Sphere 3D in Nasdaq Listing

Gryphon Digital Mining, a privately held company focused on mining bitcoin using renewable energy, will go public through a reverse merger with Nasdaq-listed data management company Sphere 3D, according to CoinDesk on June 4. Under the terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders, who will control 77 percent of the combined company. sphere holders will own the remaining 23 percent. The transaction is expected to close in the third quarter and is subject to shareholder and regulatory approvals.