🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Sphere 3D CEO Patricia Trompeter sells $42,350 in shares

Published 14/12/2024, 03:02

Patricia Trompeter, CEO of Sphere 3D Corp. (NASDAQ:ANY), recently sold 35,000 shares of the company’s common stock, totaling $42,350. The shares were sold at an average price of $1.21 each. This transaction was part of a process to cover the company's tax withholding obligations related to the release of vested restricted stock units on December 10, 2024. Following this sale, Trompeter holds 532,187 shares directly. Sphere 3D is involved in finance services, specifically focusing on crypto assets.

In other recent news, Sphere 3D Corporation reported a decrease in its third-quarter 2024 revenue to $2.4 million, down from the second quarter's $4.7 million. The decline was attributed to downtime during the company's transition to new hosting services and fleet upgrades. Despite this, H.C. Wainwright maintained a Buy rating on Sphere 3D, emphasizing the company's efforts to establish a scalable mining infrastructure and reduce dependence on third-party hosting services.

The company also reported mining 9.2 Bitcoin in September, generating a revenue of $0.6 million. As part of its strategic developments, Sphere 3D announced the start of a cost-effective 12.5 MW hosting site in Iowa, aiming to reduce mining costs. However, Sphere 3D faces potential delisting from Nasdaq due to not meeting the minimum bid price requirement and has until April 2025 to regain compliance.

Despite a decrease in Bitcoin mining output and revenue in August, the company added 0.21 EH/s of higher-efficiency machines to its mining fleet. These are recent developments in Sphere 3D's efforts to enhance its operational outlook and maintain a positive rating and price target for its stock.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.