Bitcoin mining company Sphere 3D has completed a $3 million private placement financing, with participation from LDA Capital

ChainCatcher news, Nasdaq-listed Bitcoin mining company Sphere 3D announced that it has completed a $3 million private placement financing by signing a securities purchase agreement, with participation from LDA Capital Limited.

According to Sphere 3D CEO Patricia Trompeter, the company will use this latest financing to incentivize miners without affecting its current cash flow.

ChainCatcher previously reported that Sphere 3D purchased 60,000 NM440 mining machines at a price of $1.7 billion in early 2022. (source link)