Sphere 3D sells Iowa site for USD 1.5 million

Sphere 3D agreed Sept. 1, 2026 to sell its Iowa site to Simple Mining for a USD 1.5 million purchase price.

• USD 300,000 was paid in cash.
• The remaining USD 1.2 million will be paid through an interest-free promissory note with 12 equal monthly installments beginning Dec. 1, 2026.
• The deal includes termination of the Iowa sublease and assignment of rights to mining containers, transformers and related equipment at the site.

Separately, Sphere 3D said it has a binding term sheet to sell about 5,500 owned mining machines to RepairBit for about USD 3.1 million over 90 days.

The seller will retain ownership of the miners until payments are received. Sphere 3D also expects the return of about USD 300,000 in utility prepayments and a USD 225,000 deposit.