Sphere 3D Corp. (NASDAQ: ANY) stock gained by 10.5% at last close while the ANY stock price soars further during the after-hour session by 18.5%. HVE ConneXions, UCX ConneXions, and SnapServer are among Sphere 3D Corp.’s brands committed to assisting clients in achieving their IT goals.
Gryphon Digital Mining and Sphere 3D, that has recently announced an Agreement and Plan of Merger, reported a deal to buy 250,000 Certified Emission Reductions, with each firm buying 125,000 credits, depending on closing conditions. These credits will not only help the parties meet their ESG obligations of reaching net-zero emissions but will also enable Gryphon to become the first carbon-negative cryptocurrency miner. This is the next step in Gryphon and Sphere 3D’s quest to establish operations that are environmentally friendly and socially responsible.
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The sales are contingent on the seller having verification from the UNFCCC. Under the United Nations Convention on Climate Change norms, the seller is in the process of finishing CER certification for its renewable energy facility. By the fourth quarter of 2021, the procedure should be done.
Gryphon and Sphere 3D are expected to stay carbon-negative for at least the next five years, based on present activities. Carbon emissions for each company originate from one of three sources, according to BlueSource. Gryphon’s primary company has no carbon impact since it runs entirely on renewable energy, but it recognizes that it can do more. These carbon offset credits will be used to offset emissions from Scope Two and Scope Three activities such as foreign shipping of bitcoin mining machines, personnel travel, meals at corporate meetings, and other miscellaneous activities.
Rob Chang, CEO at Gryphon Digital Mining stated:
Gryphon Digital Mining recognize that carbon emissions are caused by more than just the energy that a firm consumes, therefore even though they are currently 100% renewable, there is still more they can do. These credits represent their commitment to not just offset those additional emissions but to go much farther and achieve carbon neutrality. They think that rather than merely surviving, individuals of the global ecosystem should try to improve the environment by their existence.