Sphere 3D Names Veteran Finance Executive Timothy Hanley to its Board of Directors

TORONTO, Might 31, 2022–(Enterprise WIRE)–Sphere 3D Corp. (Nasdaq: ANY) (Sphere 3D), devoted to starting to be the foremost carbon-neutral bitcoin mining enterprise operating at an industrial scale, has declared that Timothy P. Hanley, a veteran financial government with in depth practical experience advising corporations on system creation and execution, navigating electronic transformation, and marketplace progress, has been appointed to Sphere 3D’s Board of Directors as an impartial director and as the Chair of the Board’s Audit Committee.

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As a Skilled Money Specialist with important expertise in the board place and with audit committees, Mr. Hanley (65) provides drastically to the financial and engineering experience of Sphere 3D’s Board of Directors. He was most not too long ago a Senior Partner with Deloitte LLP (“Deloitte”), wherever he served as the direct client company companion and advisory spouse for Deloitte’s international consumers. In his leadership function, he was liable for oversight of the International Customer and Industrial Items exercise, which include method implementation and increasing the practice to about $14 billion in once-a-year income.

“On behalf of the Board of Administrators, I am delighted to be incorporating Tim’s monetary insights and perspectives as we execute our technique to be a chief in the cryptocurrency and blockchain industries,” stated Duncan McEwan, Chairman of Sphere 3D. “We continue to be committed to optimizing the management, financial structure, and functions of our Business as we develop our mining fleet to an industrial scale with a perspective to capitalize on the enormous possible of the Bitcoin mining field. We imagine Tim’s addition and the beforehand introduced administration and board alterations will support expedite the implementation of our strategy.”

“It is a terrific honor to be a part of the board of directors of Sphere 3D as it executes its technique to develop into a carbon-neutral chief in the cryptocurrency sector,” stated Mr. Hanley, freshly appointed independent board member of Sphere 3D. “Whilst global geopolitical and monetary problems are challenging just about every financial current market, the long term of Bitcoin and blockchain features sizeable upside. I am looking forward to aiding Sphere 3D capture a share of that upside for our shareholders.”

The addition of Mr. Hanley brings Sphere 3D’s Board to 4 administrators, three of whom are unbiased. In April 2022, the Organization declared that it would broaden its Board to five associates. A look for is ongoing for an more board member.

About Timothy P. Hanley

Timothy Hanley is a seasoned worldwide govt with comprehensive practical experience consulting with companies with regards to electronic transformation, organizational technique progress and execution, acquisitions, and sector growth. Mr. Hanley is a Qualified Economic Skilled and has considerable experience in the board area and operating with audit committees.

Mr. Hanley was most recently a Senior Associate with Deloitte LLP (“Deloitte”), where by he led the firm’s World wide Purchaser and Industrial Merchandise follow and aided improve the observe to extra than $14 billion in once-a-year revenue. In his management part, he acted as a guide customer provider spouse and an advisory partner for many of the firm’s most important world consumers. In the course of his 17 yrs at Deloitte, Mr. Hanley served in quite a few client-assistance and sector leadership roles. Ahead of his most recent position as the World wide Customer and Industrial Products Sector Leader, Tim’s leadership roles provided serving as the U.S. Vice Chairman and Approach and Industrial Items Chief.

Mr. Hanley began his occupation at Arthur Andersen in 1978 and served as an audit lover on quite a few of the premier producers in Wisconsin. He served as a board member of the Countrywide Affiliation of Brands from 2008 to 2017 and consistently advises privately held firms in the customer items, retail, and distribution industries. Mr. Hanley now serves as the Acting Keyes Dean for the Higher education of Organization at Marquette College.

About Sphere 3D

Sphere 3D Corp. (Nasdaq: ANY) is a net carbon-neutral cryptocurrency miner with a long time of verified business details-solutions know-how. The Business is speedily growing its industrial-scale mining procedure by way of the funds-effective procurement of future-generation mining tools and partnering with greatest-in-class info middle operators. Sphere 3D has ~6. EH/s of capability less than deal for deliveries this calendar year. Currently, the Corporation operates a fleet of ~1,000 miners and expects supply of an extra 59,000 miners by calendar year-conclusion 2022 for a complete hashing potential of 6. exahash. Sphere 3D is devoted to growing shareholder worth when honoring its motivation to rigid environmental, social, and governance benchmarks. For far more facts about the Firm, be sure to visit Sphere3D.com.

Forward-On the lookout Statements

This conversation is made up of ahead-wanting statements inside the this means of Part 27A of the Securities Act, and Section 21E of the Securities Trade Act of 1934, as amended. Forward-hunting statements commonly relate to upcoming events, including the timing of the proposed transaction and other data connected to the proposed transaction. In some instances, you can determine forward-looking statements simply because they include terms these kinds of as “may,” “will,” “need to,” “expects,” “options,” “anticipates,” “could,” “intends,” “focus on,” “initiatives,” “contemplates,” “believes,” “estimates,” “predicts,” “opportunity” or “carry on” or the negative of these text or other very similar terms or expressions. Anticipations and beliefs relating to issues discussed herein may well not materialize, and precise final results in long run periods are subject matter to risks and uncertainties that could bring about real benefits to vary materially from those people projected. The ahead-hunting statements contained in this interaction are also issue to other challenges and uncertainties, such as all those additional fully described in filings with the SEC, which include Sphere 3D’s reviews submitted on Form 20-F and Type 6-K and in other filings designed by Sphere 3D with the SEC from time to time and readily available at www.sec.gov. These ahead-searching statements are based mostly on latest expectations, which are topic to alter.

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Contacts

Sphere 3D

NMN Advisors
[email protected]

Kurt Kalbfleisch
[email protected]