Sphere 3D Corp (NASDAQ: ANY) soared over 60% on Thursday and closed at $3.21 in context with the company announcing a purchase agreement of 250,000 Carbon Offset Credits with Gryphon Digital Mining. In addition, the Ontario, Canada-based company has secured Certified Emission Reductions, which assist it in fulfilling its ESG commitments towards net-zero emissions.
The news came out well with the investors who pushed the stock up. The agreement will also allow Gryphon Digital Mining to become the first-ever miner for carbon-negative crypto. Both companies see the agreement as the next prominent step in developing futuristic operations with ESG goals and operations.
With their current operational size, it is estimated that the two companies would remain carbon-negative for the next five years. This news has pleased investors who are also understanding the potential of renewable energy in driving the future. Thus, world demand, government support, and such agreements are a win-win for all parties involved.