Sphere 3D Signs 30 MW Bitcoin Co-Mining Deal With Bitdeer

Sphere 3D Corp. has signed co-mining agreements with Bitdeer (NASDAQ: BTDR) Technologies Group to host 30 megawatts of bitcoin mining capacity across three of Sphere 3D’s data center sites in Tennessee and Kentucky.

Under the agreements announced Thursday, Bitdeer will deploy its SEALMINER A2 Pro Air mining machines at the three sites, totaling about 2 EH/s of computing power based on the machines' specifications. The two companies will share net mining proceeds from the operations, Sphere 3D said.

Each agreement has an initial one-year term and can be renewed for an additional year unless either party opts out. Sphere 3D said the structure is intended to put available power capacity to work while preserving flexibility as the company evaluates other uses for its infrastructure, including artificial intelligence and high-performance computing.

The deal comes as miners and data center operators are placing greater emphasis on access to power, site readiness and interconnection capacity. The same infrastructure that supports bitcoin mining is increasingly being reviewed for possible use in AI and HPC workloads, although conversions can require additional capital, different cooling designs and higher standards for power redundancy and network connectivity.

Sphere 3D described the Bitdeer agreements as part of a site-by-site approach to asset utilization. The company said it is continuing to assess its locations based on power availability, interconnection profile, operating requirements, capital needs, counterparty demand and technical feasibility.

“We are focused on building a platform that can respond to where digital infrastructure demand is going, while making practical use of the assets we control today,” Sphere 3D Chief Executive Officer Joel Block said in the announcement.

The agreements follow Sphere 3D’s recent combination with Cathedra Bitcoin, which expanded the company’s operating footprint and power-backed infrastructure platform. The combined company previously said it had 53 MW of operational capacity and a pipeline of more than 100 MW of potential expansion.

For Bitdeer, the arrangement provides another channel to deploy its own mining hardware through a co-mining structure. The company has been vertically integrating across mining machine design, bitcoin mining operations and data center infrastructure, while also evaluating AI-related opportunities at some of its sites.

The SEALMINER A2 Pro Air is part of Bitdeer’s in-house ASIC product line. Bitdeer has listed the model with a hashrate of about 255 to 260 terahashes per second and power efficiency of 14.9 joules per terahash.