Sphere 3D Corp. (NASDAQ: ANY) reported a net loss of $13.8 million for the second quarter ended June 30, 2026, compared with net income of $1.7 million in the same period a year earlier, according to a company press release.

Revenue for the quarter totaled $2.5 million, up 28% from the first quarter of 2026 but down from $3.0 million in the second quarter of 2025. The results include operations from Cathedra Bitcoin beginning June 1, 2026, the date Sphere 3D completed its business combination with the company. The quarterly loss included $7.0 million in property and equipment impairment charges and $588,000 in intangible asset impairments.

As of June 30, 2026, the company held $2.8 million in cash and $1.2 million in bitcoin. Total assets stood at $24.9 million, with shareholders' equity of $16.9 million, down from $23.3 million at December 31, 2025.

The combined company now operates approximately 53 MW of power capacity across multiple U.S. data center locations. Sphere 3D entered co-mining agreements with Bitdeer covering 30 MW across three sites in Tennessee and Kentucky, with installation of the first site completed after quarter end and the remaining two expected before November 2026.

The company is planning a potential conversion of its approximately 15 MW Hopkinsville, Kentucky facility for AI and high-performance computing use, along with development of a new 50 MW data center at that site. A proposed 65 MW substation at Hopkinsville is also under consideration.

Sphere 3D has proposed rebranding as DarkHorse Technologies Inc. and reserved the Nasdaq ticker "DRK," pending shareholder approval at a special meeting scheduled for August 24, 2026.