Sphere 3D Faces $2.2M Tariff Claim Equal to Nearly 80% of Its Cash

Crypto miner Sphere 3D is facing a potential $2.2 million tariff claim from US Customs and Border Protection (CBP), which could eat up almost 80% of its cash reserves.

The company, now known as DarkHorse Technologies, says the CBP treated Bitcoin miners purchased in 2022 by a subsidiary it owns as Chinese-origin goods.

Sphere 3D claims that seller-provided import documents included certificates of origin and manufacture certifying the miners were not of Chinese origin. The company plans to protest the tariff claim and has pointed out that the CBP's allegation is 'meritless.'