[Bitcoin Mining Company Sphere 3D Faces Severe Financial Crisis, Plans to Dilute Shareholder Equity by Up to 50%] According to CryptoSlate, Bitcoin mining company Sphere 3D is facing a severe cash flow shortage and has revised its in-house stock issuance plan, authorizing the sale of up to $10.3 million worth of shares to fund operations. Based on an assumed price of $2.35 per share, a full issuance would add approximately 4.38 million shares, increasing the total share count from around 8.62 million to approximately 13 million, resulting in a dilution of about 50.9%. The company may also sell mined Bitcoin as needed. As of March 31, the company held $3.15 million in cash and 26.2 Bitcoins (fair value approximately $1.79 million), and generated $2.79 million in the first quarter through Bitcoin sales. Audit reports for both Sphere 3D and Cathedra mentioned risks to their ability to continue as going concerns. Cathedra reported a net cash outflow of CAD 1.17 million from operations in the first quarter.