Benzinga | Aug 20, 2021 10:13AM EDT

Why Is Sphere 3D Stock Trading Higher Today?

* Sphere 3D Corp (NASDAQ:ANY) and Gryphon Digital Mining inked an agreement to purchase an additional 250,000 Certified Emission Reductions (CERs or Credits), each company purchasing 125,000 credits.

* The credits will support their ESG commitments in light of the recently announced initiatives to increase crypto mining capacity substantially.

* Additionally, they forged a Master Services Agreement (MSA) for Sphere 3D's direct purchase of crypto mining equipment utilizing Gryphon's expertise. They are also working on their merger plans.

* Price Action: ANY shares traded higher by 5.57% at $3.79 in the market session on the last check Friday.