Sphere 3D has denied reports of financial troubles by its former partner Gryphon Digital Mining, following the escalation of litigation between the Bitcoin miners.
Bitcoin miner Sphere 3D has denied reports of financial troubles, claiming that accusations from its former partner Gryphon Digital Mining are “at best disingenuous.”
In a court document shared with Cointelegraph, Sphere 3D refuted accusations made a few days earlier by Gryphon to the United States District Court for the Southern District of New York, requesting a block on millions of dollars on grounds that Sphere was on the “verge of economic collapse.”
On March 25, Gryphon requested court permission to file a motion seeking to secure $10 million in equity proceeds that Sphere recently received from a settlement related to Core Scientific’s bankruptcy exit. According to Gryphon, the move was necessary since Sphere could not pay roughly $30 million in future breach of contract judgments.
