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Sphere 3D shareholders approve merger with Cathedra Bitcoin, deal closes June 1

Market News
21 May 2026
Crypto Briefing
View Source
Bullish
pluang ai news

Sphere 3D shareholders have approved the merger with Cathedra Bitcoin, set to close on June 1. The all-stock deal combines 53 MW of power capacity across five data centers in Iowa, Kentucky, and Tennessee, with plans to shift from Bitcoin mining to AI and high-performance computing. Cathedra shareholders will own about 49% of the combined company, which will keep Sphere 3D's NASDAQ listing. Investors should watch for new AI hosting agreements and updates on facility upgrades after the merger closes.

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