AcquisitionsJun 3, 2026, 05:12 PM
Sphere 3D Completes Cathedra Bitcoin Acquisition; Joel Block CEO
AI Summary
Sphere 3D Corp. has completed its previously announced acquisition of Cathedra Bitcoin Inc., making Cathedra a wholly-owned subsidiary. The combined company, which retains the Sphere 3D name and NASDAQ listing, now boasts a scaled data infrastructure platform with 53 megawatts of operating capacity and a robust 100 MW+ expansion pipeline. Joel Block has been appointed Chief Executive Officer of the combined entity, bringing extensive experience to lead its strategic growth in high-performance computing and digital asset infrastructure.
Key Highlights
- Sphere 3D Corp. completed the acquisition of Cathedra Bitcoin Inc. on June 1, 2026.
- Joel Block has been appointed Chief Executive Officer of the combined company.
- The combined entity now operates with 53 megawatts of power capacity across five data centers.
- The company has a pipeline exceeding 100 megawatts of potential expansion opportunities.
- The combined company includes 1.2 EH/s of installed proprietary mining hash rate.
- CEO Joel Block will receive an annual base salary of $425,000.
- CEO Joel Block is eligible for a one-time inducement equity award of 500,000 Restricted Stock Units (RSUs).
- Cathedra Bitcoin Inc. shares are expected to be delisted from the TSX Venture Exchange and OTCQB.
Price Impact
More from ANY