Sphere 3D Corp. (Sphere 3D (ANY)) shares shot up more than 108% on Monday after the company finalized its acquisition of Cathedra Bitcoin Inc. (Cathedra Bitcoin (CBTTF)). The deal, which was approved by a court and first announced back in March, is now officially closed, and Cathedra has become a wholly-owned subsidiary of Sphere 3D.

The broader market was mixed, with the Nasdaq up 0.27% and the S&P 500 down 0.05%, but Sphere 3D was clearly the standout story.

Infrastructure Expansion Details

The business combination creates a data infrastructure platform with 53 megawatts (MW) of operational power capacity spread across five data centers in Iowa, Kentucky, and Tennessee. And that's just the starting point—the merged company has a pipeline that could push capacity beyond 100 MW in the future.

Shift to High-Performance Computing

This isn't just about mining Bitcoin anymore. The new management team, led by CEO Joel Block, is thinking bigger. "Together, we offer 53 MW of operational capacity, a pipeline exceeding 100 MW of potential expansion, and a NASDAQ-listed platform designed for scalability," Block said. He added that the company is positioned to capitalize on "high-performance computing and digital asset infrastructure." In other words, they want to use all that power for more than just crypto—think AI, data processing, and other compute-heavy workloads.

Kurt Kalbfleisch remains as CFO, providing some continuity through the transition.

Critical Technical Levels for ANY Stock

The stock's move on Monday was impressive, but the charts tell a nuanced story. ANY is trading 75.9% above its 20-day simple moving average (SMA) of $1.88 and 103.7% above its 50-day SMA of $1.62. That's a massive short-term spike. However, it's still 16.8% below its 200-day SMA of $3.97, which often acts as a resistance level in downtrends.

The relative strength index (RSI) sits at 53.45—neutral territory, not overbought. That suggests the stock has room to run, but the bigger picture is cautious: the 50-day SMA remains below the 200-day SMA (a "death cross" that formed in December), so bulls will want to see sustained buying that reclaims those longer-term levels, not just a one-day pop.

At the time of publication, Sphere 3D shares were trading at $3.96, up 108.42% on the day.