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

TORONTO, May perhaps 31, 2022–(Company WIRE)–Sphere 3D Corp. (Nasdaq: ANY) (Sphere 3D), devoted to turning into the major carbon-neutral bitcoin mining firm working at an industrial scale, has announced that Timothy P. Hanley, a veteran fiscal government with considerable knowledge advising providers on method development and execution, navigating electronic transformation, and industry growth, has been appointed to Sphere 3D’s Board of Directors as an independent director and as the Chair of the Board’s Audit Committee.

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As a Experienced Money Specialist with major working experience in the board space and with audit committees, Mr. Hanley (65) provides noticeably to the economical and technological innovation experience of Sphere 3D’s Board of Administrators. He was most just lately a Senior Companion with Deloitte LLP (“Deloitte”), the place he served as the lead customer company partner and advisory associate for Deloitte’s world-wide shoppers. In his management job, he was dependable for oversight of the World Purchaser and Industrial Products practice, which include approach implementation and growing the observe to above $14 billion in once-a-year revenue.

“On behalf of the Board of Directors, I am delighted to be including Tim’s fiscal insights and perspectives as we execute our technique to be a chief in the cryptocurrency and blockchain industries,” said Duncan McEwan, Chairman of Sphere 3D. “We continue being fully commited to optimizing the leadership, money construction, and operations of our Enterprise as we develop our mining fleet to an industrial scale with a check out to capitalize on the enormous probable of the Bitcoin mining sector. We imagine Tim’s addition and the earlier introduced management and board adjustments will assist expedite the implementation of our approach.”

“It is a terrific honor to join the board of administrators of Sphere 3D as it executes its approach to grow to be a carbon-neutral chief in the cryptocurrency field,” stated Mr. Hanley, newly appointed independent board member of Sphere 3D. “When international geopolitical and money problems are hard every money industry, the long term of Bitcoin and blockchain provides important upside. I am hunting forward to aiding Sphere 3D capture a share of that upside for our shareholders.”

The addition of Mr. Hanley provides Sphere 3D’s Board to four administrators, a few of whom are independent. In April 2022, the Corporation introduced that it would increase its Board to 5 users. A lookup is ongoing for an supplemental board member.

About Timothy P. Hanley

Timothy Hanley is a seasoned world-wide executive with comprehensive working experience consulting with companies with regards to electronic transformation, organizational technique advancement and execution, acquisitions, and market place progress. Mr. Hanley is a Competent Money Pro and has major encounter in the board place and doing the job with audit committees.

Mr. Hanley was most just lately a Senior Companion with Deloitte LLP (“Deloitte”), where he led the firm’s International Client and Industrial Products and solutions observe and aided grow the exercise to much more than $14 billion in annual revenue. In his management role, he acted as a guide customer assistance associate and an advisory companion for a number of of the firm’s most major world-wide shoppers. In the course of his 17 a long time at Deloitte, Mr. Hanley served in quite a few customer-support and marketplace leadership roles. Prior to his most modern job as the World wide Purchaser and Industrial Products and solutions Sector Leader, Tim’s leadership roles included serving as the U.S. Vice Chairman and Course of action and Industrial Solutions Leader.

Mr. Hanley commenced his occupation at Arthur Andersen in 1978 and served as an audit partner on lots of of the major brands in Wisconsin. He served as a board member of the Nationwide Affiliation of Brands from 2008 to 2017 and consistently advises privately held organizations in the client products, retail, and distribution industries. Mr. Hanley currently serves as the Performing Keyes Dean for the University of Organization at Marquette University.

About Sphere 3D

Sphere 3D Corp. (Nasdaq: ANY) is a internet carbon-neutral cryptocurrency miner with decades of proven enterprise knowledge-companies knowledge. The Corporation is swiftly rising its industrial-scale mining procedure by the funds-effective procurement of next-era mining products and partnering with best-in-class knowledge center operators. Sphere 3D has ~6. EH/s of ability less than agreement for deliveries this yr. At the moment, the Business operates a fleet of ~1,000 miners and expects delivery of an added 59,000 miners by year-stop 2022 for a whole hashing capacity of 6. exahash. Sphere 3D is committed to rising shareholder price although honoring its commitment to strict environmental, social, and governance benchmarks. For extra info about the Business, be sure to stop by Sphere3D.com.

Forward-Searching Statements

This interaction contains ahead-seeking statements in just the this means of Area 27A of the Securities Act, and Portion 21E of the Securities Exchange Act of 1934, as amended. Ahead-searching statements generally relate to long run situations, such as the timing of the proposed transaction and other details connected to the proposed transaction. In some circumstances, you can detect ahead-hunting statements because they comprise terms this kind of as “might,” “will,” “should really,” “expects,” “ideas,” “anticipates,” “could,” “intends,” “concentrate on,” “initiatives,” “contemplates,” “believes,” “estimates,” “predicts,” “possible” or “go on” or the adverse of these text or other identical phrases or expressions. Expectations and beliefs pertaining to issues reviewed herein might not materialize, and true success in long run intervals are subject matter to threats and uncertainties that could lead to true benefits to vary materially from those people projected. The ahead-wanting statements contained in this interaction are also subject to other dangers and uncertainties, which include these extra fully described in filings with the SEC, including Sphere 3D’s experiences submitted on Form 20-F and Sort 6-K and in other filings built by Sphere 3D with the SEC from time to time and obtainable at www.sec.gov. These forward-looking statements are dependent on latest anticipations, which are subject matter to transform.

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Contacts

Sphere 3D

NMN Advisors
[email protected]

Kurt Kalbfleisch
[email protected]