Sphere 3D rebuffs Gryphon Digital Mining's claims of financial instability, labeling them as "disingenuous" in a recent court filing.

The dispute between the Bitcoin (CRYPTO:BTC) miners intensifies as Gryphon seeks court intervention to secure funds from Sphere amid allegations of imminent economic collapse.

Contrary to Gryphon's assertions, Sphere 3D asserts a robust financial position with $45 million in assets and $5 million in liabilities, challenging the necessity for extreme legal actions.

The legal battle stems from a breached Master Service Agreement (MSA) between the two parties, further complicated by accusations of negligence and unauthorized transactions.

As the litigation unfolds, both companies face significant financial stakes, with Sphere pursuing damages exceeding $25 million while grappling with recovery efforts from a bankruptcy settlement with Core Scientific.