---
title: "Sphere 3D | 8-K: FY2026 Q1 Revenue: USD 1.916 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286615651.md"
datetime: "2026-05-15T21:04:07.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286615651.md)
  - [en](https://longbridge.com/en/news/286615651.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286615651.md)
---

# Sphere 3D | 8-K: FY2026 Q1 Revenue: USD 1.916 M

Revenue: As of FY2026 Q1, the actual value is USD 1.916 M.

EPS: As of FY2026 Q1, the actual value is USD -1.18.

### Operational Metrics

#### Bitcoin Production

Sphere 3D Corp. produced 25.3 Bitcoin for the first quarter of 2026, a decrease from 30.5 Bitcoin in the first quarter of 2025.

#### Bitcoin Asset Balance

As of March 31, 2026, Sphere 3D Corp. held a self-mined balance of 26.2 Bitcoin.

### Financial Results (Three Months Ended March 31)

#### Revenue

Revenue for the first quarter of 2026 was $1.9 million, compared to $2.8 million in the first quarter of 2025. This decrease was primarily due to a decrease in the fair value of Bitcoin during the period and temporarily reduced active mining capacity during a fleet refresh.

#### Operating Costs and Expenses

Total operating costs and expenses for the first quarter of 2026 decreased to $6.0 million, from $8.0 million in the first quarter of 2025.General and administrative expenses were reduced by approximately 23% to $2.5 million in the first quarter of 2026, down from $3.2 million in the first quarter of 2025.Cost of Bitcoin mining revenue (exclusive of depreciation and amortization) was $1,603 thousand in Q1 2026, down from $2,194 thousand in Q1 2025.Depreciation and amortization was $1,145 thousand in Q1 2026, down from $1,606 thousand in Q1 2025.Loss on disposal of property and equipment was $241 thousand in Q1 2026, down from $808 thousand in Q1 2025.Change in fair value of Bitcoin was $606 thousand in Q1 2026, compared to $228 thousand in Q1 2025.

#### Investment Loss

Investment loss was nil in the first quarter of 2026, compared to -$3.7 million in the first quarter of 2025.

#### Loss from Operations

Loss from operations decreased to -$4.1 million in the first quarter of 2026, compared to -$5.2 million in the first quarter of 2025.

#### Net Loss

Net loss was -$4.1 million for the first quarter of 2026, compared to -$8.8 million for the first quarter of 2025.

### Balance Sheet Data (in thousands of U.S. dollars)

#### Cash and cash equivalents

As of March 31, 2026: $3,145.As of December 31, 2025: $3,707.

#### Bitcoin (asset)

As of March 31, 2026: $1,785.As of December 31, 2025: $3,263.

#### Total current assets

As of March 31, 2026: $6,724.As of December 31, 2025: $8,677.

#### Total assets

As of March 31, 2026: $21,739.As of December 31, 2025: $25,120.

#### Current liabilities

As of March 31, 2026: $1,726.As of December 31, 2025: $1,802.

#### Shareholders’ equity

As of March 31, 2026: $19,995.As of December 31, 2025: $23,300.

### Outlook / Guidance

Sphere 3D Corp. is focused on improving the efficiency of its mining operations and building a resilient Bitcoin infrastructure business with greater operational control and flexibility. The proposed combination with Cathedra Bitcoin, Inc. aims to create a scaled digital infrastructure platform. The mining fleet refresh, intended to improve overall efficiency and long-term operating performance, was substantially completed by the end of the first quarter of 2026.

### Related Stocks

- [ANY.US](https://longbridge.com/en/quote/ANY.US.md)

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