DarkHorse Technologies, formerly Sphere 3D, is a Miner that operates bitcoin mining data centers in Iowa, Kentucky, and Tennessee and develops power sites for data centers after it combined with Cathedra Bitcoin.
Nasdaq:DRK- BTC holdings
- 20.5
- Cost Basis
- $1.46M
- Average cost / BTC
- $71,220
- Change since start of year
- -16.8 BTC
$1.51M · as of Jun 30, 2026 · price as of Nov 11, 2026
NgU 1.03× · as of Jun 30, 2026
-45%
- Market Cap
- $14.23M
- Enterprise Value
- $11.39M
- mNAV
- —
- Holdings per Share (BTC)
- —
Balance sheet values as of Jun 30, 2026, basic shares as of Aug 11, 2026: 10-Q · Aug 14, 2026
Asset holdings
Latest reported holdings for each asset. Cost Basis is the reported total cost. It can include fees and staking income. It does not give the date or price of each Purchase.
| Asset | Holdings | Cost Basis | As of | Sources |
|---|---|---|---|---|
| BTC | 20.5 | $1,460,000.00 USD | Jun 30, 2026 |
HoldingsBTC vs USD value
20.5 BTC
$1.51M USD value · as of 2026-11-10
- BTC Holdings (left)
- USD Value (right)
BTC Reserve
20.5 BTC
Average Cost $71,220 / BTC
- Holdings
- Average Cost
- Purchase (size = amount)
- Sale (size = amount)
BTC historical holdings
| Date | Change | Holdings | Cumulative cost | Average Cost | Sources |
|---|---|---|---|---|---|
| Jun 30, 2026Unexplained Decrease: The Source reports lower holdings without a stated Sale. The Company sells the bitcoin that it mines, and the Source gives no count of the bitcoin sold in the quarter. | -5.7-21.76% | 20.5 | $1.46M | $71,220 | |
| Mar 31, 2026Unexplained Decrease: The Source reports lower holdings without a stated Sale. The Company sells the bitcoin that it mines, and the Source gives no count of the bitcoin sold in the quarter. | -11.1-29.76% | 26.2 | $1.99M | $75,954 | |
| Dec 31, 2025 | +14.6+64.32% | 37.3 | $3.84M | $102,815 | |
| Sep 30, 2025 | +2.2+10.73% | 22.7 | $2.59M | $113,921 | |
| Jun 30, 2025Unexplained Decrease: The Source reports lower holdings without a stated Sale. The Company sells the bitcoin that it mines, and the Source gives no count of the bitcoin sold in the quarter. | -2.2-9.69% | 20.5 | $2.13M | $103,854 | |
| Mar 31, 2025 | +7.8+52.35% | 22.7 | $2.05M | $90,176 | |
| Dec 31, 2024 | +13.6+1,046.15% | 14.9 | $1.45M | $97,315 | |
| Sep 30, 2024Unexplained Decrease: The Source reports lower holdings without a stated Sale. The Company sells the bitcoin that it mines, and the Source gives no count of the bitcoin sold in the quarter. | -5.9-81.94% | 1.3 | — | — | |
| Jun 30, 2024 | +5.4+300% | 7.2 | — | — | |
| Mar 31, 2024Unexplained Decrease: The Source reports lower holdings without a stated Sale. The Company sells the bitcoin that it mines, and the Source gives no count of the bitcoin sold in the quarter. | -22-92.44% | 1.8 | — | — | |
| Dec 31, 2023 | +7.3+44.24% | 23.8 | — | — | |
| Sep 30, 2023 | +6.3+61.76% | 16.5 | — | — | |
| Jun 30, 2023Unexplained Decrease: The Source reports lower holdings without a stated Sale. The Company sells the bitcoin that it mines, and the Source gives no count of the bitcoin sold in the quarter. | -11.8-53.64% | 10.2 | — | — | |
| Mar 31, 2023Unexplained Decrease: The Source reports lower holdings without a stated Sale. The Company sells the bitcoin that it mines, and the Source gives no count of the bitcoin sold in the quarter. | -81.01-78.64% | 22 | — | — | |
| Dec 31, 2022 | +24.95+31.96% | 103.01 | — | — | |
| Sep 30, 2022 | +28.83+58.56% | 78.06 | — | — | |
| Jun 30, 2022 | — | 49.23 | — | — |
Advanced metrics
| Date | BTC holdings | Shares outstanding | Stock price | Market Cap | Financials | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance | Cost Basis | Value | Basic | Diluted | Basic | Diluted | Cash | Debt | ||
| Jun 30, 2026 | 20.5 | $1.46M | $1.2M | 8.7M | — | $2.76 | $24.03M | — | $2.85M | $0 |
| Mar 31, 2026 | 26.2 | $1.99M | $1.79M | — | — | $1.45 | — | — | — | — |
| Dec 31, 2025 | 37.3 | $3.84M | $3.27M | — | — | $2.98 | — | — | — | — |
| Sep 30, 2025 | 22.7 | $2.59M | $2.59M | — | — | $7.35 | — | — | — | — |
| Jun 30, 2025 | 20.5 | $2.13M | $2.2M | — | — | $5.90 | — | — | — | — |
| Mar 31, 2025 | 22.7 | $2.05M | $1.87M | — | — | $3.99 | — | — | — | — |
| Dec 31, 2024 | 14.9 | $1.45M | $1.39M | — | — | $9.44 | — | — | — | — |
| Sep 30, 2024 | 1.3 | — | $82.33K | — | — | $9.05 | — | — | — | — |
| Jun 30, 2024 | 7.2 | — | $451.96K | — | — | $10.80 | — | — | — | — |
| Mar 31, 2024 | 1.8 | — | $128.3K | — | — | $15.40 | — | — | — | — |
| Dec 31, 2023 | 23.8 | — | $1.01M | — | — | $33.20 | — | — | — | — |
| Sep 30, 2023 | 16.5 | — | $444.88K | — | — | $13.30 | — | — | — | — |
| Jun 30, 2023 | 10.2 | — | $310.81K | — | — | $19.40 | — | — | — | — |
| Mar 31, 2023 | 22 | — | $626.24K | — | — | $24.57 | — | — | — | — |
| Dec 31, 2022 | 103.01 | — | $1.7M | — | — | $19.32 | — | — | — | — |
| Sep 30, 2022 | 78.06 | — | $1.52M | — | — | $30.94 | — | — | — | — |
| Jun 30, 2022 | 49.23 | — | $981.75K | — | — | $37.52 | — | — | — | — |
— means no value was disclosed or derivable for that date.Stock prices are daily closes in USD at today's exchange rate.
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