Shares of Sphere 3D Corp. (NASDAQ:ANY) are trading sharply higher Friday, gaining momentum alongside a broader rally across digital asset and crypto-mining equities.

White House Crypto Summit Drives Bitcoin Rally

The sector-wide rally gained traction following a high-profile crypto summit hosted by President Donald Trump at the White House on Wednesday. The gathering brought together top digital asset executives, including Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev and Ripple CEO Brad Garlinghouse.

Discussions focused on pushing Senate passage of the CLARITY Act to establish clear digital asset frameworks, which sent spot Bitcoin (CRYPTO: BTC) prices above the $77,000-level and sparked broad buying across crypto-related stocks.