Sphere 3D Intends to Purchase 60,000 Bitcoin Miners

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Data management solutions provider Sphere 3D has entered into an agreement to purchase 60,000 NuMiner NM440 Bitcoin miners with a combined hashrate of 26.4 EH/s.

According to the press release, the deal will be worth up to $1.7 billion. NuMiner Technologies’ first-to-market device has a hashrate of 440 TH/s and an energy efficiency rating of 20.2 J/T. The company’s website says the device is being produced in collaboration with TSMC, Foxconn and Xilinx.

Under the agreement with NuMiner Global, the manufacturer’s exclusive distributor of products, Sphere 3D will receive 12 pre-production NM440s for testing and final evaluation, which must be completed by June 2022. The further delivery schedule assumes receipt of 1,000 devices by the end of June and approximately 10,000 units monthly from September to February 2023.

The company will spend up to $1.7 billion in the purchase of 60,000 NM440s.

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