Bitcoin mining companies Cathedra Bitcoin and Sphere 3D have signed an all-stock merger agreement. Upon completion, the merged entity will retain the Sphere 3D name and its NASDAQ listing, with Cathedra Bitcoin shareholders owning approximately 49% of the combined company's issued shares. The new company will operate with about 53 megawatts of power and 1.2 EH/s of Bitcoin mining capacity across five data centers in Tennessee, Kentucky, and Iowa. Additionally, it plans to expand by approximately 100 megawatts and explore AI and high-performance computing (HPC) services.