Data management solutions provider Sphere 3D has signed an agreement to purchase 60,000 NuMiner NM440 bitcoin miners with a total throughput of 26.4 EH/s. The deal will be worth up to $1.7 billion.

NuMiner Technologies' first-to-market device features 440 TH/s of arithmetic power and a 20.2 J/T energy efficiency rating, according to a press release. The company's website states that the device was produced in partnership with TSMC, Foxconn and Ceres.

Ymp1BjVk2kQ9dJaU28N1WLjwFMTJDEnw4nTK0L9TSuvP-heVCeEVnJLQ78GrISrneHkvL7XnJr2g- jCjKy6oponN5ggkeEKoS2Y9vtxwdKOlfvqjWtKICDggUhMM4aK9kGoR6gDN.jpeg.webp NM440. data: NuMiner.

Under an agreement with NuMiner Global, the exclusive distributor of the manufacturer's products, Sphere 3D will receive 12 pilot production NM440s for testing and final evaluation, which must be completed by June 2022. Further delivery schedules assume receipt of 1,000 units by the end of June and approximately 10,000 units per month between September 2023 and February 2023.

Terms for the purchase of 60,000 NM440s are up to $1.7 billion, including

  • An upfront payment of $429 million, consisting of approximately $400 million in stock and $29 million in cash.
  • 1.1 billion in purchase credits from NuMiner Global.
  • The additional payment of approximately $185 million, depending on the number of batches of equipment, will be more energy efficient than the current 20.2 J/T.

As part of the transaction, Anthony Melman, Chairman of NuMiner Global, will join the Sphere 3D Board of Directors.

The company previously ordered 60,000 Antmainer S19j Pro bitcoin miners from Bitmain. It is expected that after completing deliveries under both contracts and deploying 120,000 installations, Sphere 3D's hash rate will be 32.4 EH/s, or approximately 14% of the first cryptocurrency network's current metric.

The company's proposed merger partner, the mining company Gryphon Digital Mining, has 3,000 devices and is awaiting delivery of another 500 devices. In addition, the company has installed 500 units on behalf of Sphere 3D.

Recall that Marathon Digital Holdings, one of the largest miners in North America, announced that it will reach a hash rate of 23.3 EH / s by early 2023, with a fleet of approximately 199,000 devices.

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