Data management company Sphere3D has acquired exclusive right to assume all of Hertford Advisors’ bitcoin mining agreements throughout six months, reported MarketWatch.

The firm has reportedly already started taking action. It said it has assumed and executed the first agreement to purchase 60,000 new bitcoin mining rigs. The deal was completed directly with the manufacturer, Sphere said, and deliveries are expected to begin in November 2021 and continue over the following ten months.

As part of the deal, Sphere3D will issue common stock shares to Hertford. Additionally, a new series of preferred stock shares will also be issued upon achieving a set of milestones.

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