Gate News: On March 7, Bitcoin mining company Cathedra Bitcoin announced a merger agreement with technology firm Sphere 3D through a stock-for-stock transaction. After the merger, the new company will retain the Sphere 3D name and NASDAQ listing status, operating five data centers in Tennessee, Kentucky, and Iowa with a total capacity of 53 MW and a Bitcoin mining hash rate of 1.2 EH/s. Under the agreement, Cathedra Bitcoin shareholders will receive 49% of the issued shares of the combined company. Post-merger, the company plans to expand its operational capacity by 100 MW and develop AI and high-performance computing (HPC) services.
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