Sphere 3D Corporation $(ANY)$ reported its financial results for the third quarter of fiscal year 2025, ending September 30, 2025. The company generated revenue of $2.6 million, up from $2.4 million in the third quarter of 2024. Bitcoin production for the quarter was 23.0 Bitcoin, a decrease from 38.7 Bitcoin in the same period last year, attributed to higher than expected curtailments and fewer miners online. General and administrative expenses were reduced by approximately 40% to $1.8 million, compared to $3.0 million in the third quarter of 2024. Overall operating costs and expenses totaled $6.7 million, down from $7.5 million in the prior year quarter. During the quarter, Sphere 3D replaced 1,500 older generation miners with approximately 900 newer generation S21+ miners and sold its remaining CORZ shares, realizing a cumulative recovery of $9.4 million above the settlement value. As of September 30, 2025, the company held a self-mined Bitcoin balance of 22.7 with a fair value of approximately $2.6 million. Recent events include raising $4.1 million in gross proceeds through a warrant inducement, purchasing additional S21 Pro and S21 XP miners expected to increase deployed EH/s by about 25% in the fourth quarter, and entering into a new hosting agreement to support additional miners.