Gryphon Digital Mining Delays Plan to Become Publicly Traded

Under terms of the deal, Sphere said it will issue 111 million shares to Gryphon shareholders. Sphere 3D shareholders are expected to own approximately 62% of the company and Gryphon shareholders will own the remaining 38%. Gryphon CEO Rob Chang, who previously served as CFO of bitcoin miner Riot Blockchain, will be CEO of the combined company, which will take the Gryphon name.