Sphere 3D Q2 FY26 operating loss widens to USD 13.82 million; revenue rises 28% to USD 2.5 million vs Q1 FY26
ANY•Q2 financial results
Sphere 3D posted Q2 revenue of USD 2.5 million, up 28% from Q1.
Net loss widened to USD 13.8 million, reflecting transaction-related expenses and impairment charges tied to the Cathedra combination.
Cash fell to USD 2.8 million at June 30, while bitcoin holdings declined to USD 1.2 million.
Cathedra deal and co-mining agreements
The company said it completed the Cathedra deal on June 1, creating about 53 MW of operating capacity with more than 100 MW of expansion potential.
Sphere 3D also signed 30 MW co-mining agreements with Bitdeer across three sites. The first site has been installed, and the remaining two are slated to be installed before November 2026.
