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

TORONTO, May 31, 2022–(Business WIRE)–Sphere 3D Corp. (Nasdaq: ANY) (Sphere 3D), dedicated to starting to be the leading carbon-neutral bitcoin mining corporation functioning at an industrial scale, has declared that Timothy P. Hanley, a veteran monetary executive with substantial knowledge advising companies on approach creation and execution, navigating electronic transformation, and market enhancement, 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 Certified Financial Skilled with sizeable working experience in the board home and with audit committees, Mr. Hanley (65) provides noticeably to the fiscal and technologies know-how of Sphere 3D’s Board of Administrators. He was most a short while ago a Senior Associate with Deloitte LLP (“Deloitte”), the place he served as the guide client company spouse and advisory partner for Deloitte’s global clients. In his leadership function, he was liable for oversight of the World wide Client and Industrial Merchandise observe, together with tactic implementation and growing the exercise to around $14 billion in annual profits.

“On behalf of the Board of Directors, I am delighted to be adding Tim’s economic insights and views as we execute our strategy to be a chief in the cryptocurrency and blockchain industries,” stated Duncan McEwan, Chairman of Sphere 3D. “We continue being committed to optimizing the management, economical construction, and functions of our Corporation as we increase our mining fleet to an industrial scale with a perspective to capitalize on the huge likely of the Bitcoin mining field. We feel Tim’s addition and the earlier declared management and board variations will enable expedite the implementation of our system.”

“It is a great honor to be a part of the board of administrators of Sphere 3D as it executes its strategy to grow to be a carbon-neutral leader in the cryptocurrency field,” explained Mr. Hanley, freshly appointed independent board member of Sphere 3D. “Though worldwide geopolitical and monetary concerns are complicated each financial market place, the upcoming of Bitcoin and blockchain delivers considerable upside. I am on the lookout forward to aiding Sphere 3D capture a share of that upside for our shareholders.”

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The addition of Mr. Hanley delivers Sphere 3D’s Board to four directors, three of whom are unbiased. In April 2022, the Firm introduced that it would broaden its Board to five customers. A look for is ongoing for an more board member.

About Timothy P. Hanley

Timothy Hanley is a seasoned world government with in depth working experience consulting with producers about electronic transformation, organizational approach advancement and execution, acquisitions, and current market growth. Mr. Hanley is a Certified Monetary Specialist and has significant working experience in the board room and performing with audit committees.

Mr. Hanley was most not long ago a Senior Lover with Deloitte LLP (“Deloitte”), exactly where he led the firm’s Global Customer and Industrial Goods follow and helped expand the practice to a lot more than $14 billion in annual profits. In his leadership function, he acted as a guide shopper services husband or wife and an advisory companion for several of the firm’s most considerable global clientele. All through his 17 yrs at Deloitte, Mr. Hanley served in several shopper-support and industry leadership roles. In advance of his most modern purpose as the World Customer and Industrial Merchandise Marketplace Leader, Tim’s management roles provided serving as the U.S. Vice Chairman and System and Industrial Merchandise Leader.

Mr. Hanley started his vocation at Arthur Andersen in 1978 and served as an audit husband or wife on numerous of the major brands in Wisconsin. He served as a board member of the National Affiliation of Suppliers from 2008 to 2017 and routinely advises privately held providers in the consumer goods, retail, and distribution industries. Mr. Hanley at the moment serves as the Acting Keyes Dean for the University of Company at Marquette College.

About Sphere 3D

Sphere 3D Corp. (Nasdaq: ANY) is a net carbon-neutral cryptocurrency miner with many years of proven enterprise information-services abilities. The Firm is rapidly rising its industrial-scale mining procedure via the money-effective procurement of following-technology mining machines and partnering with greatest-in-class knowledge centre operators. Sphere 3D has ~6. EH/s of potential less than deal for deliveries this yr. Presently, the Organization operates a fleet of ~1,000 miners and expects supply of an added 59,000 miners by 12 months-conclude 2022 for a full hashing ability of 6. exahash. Sphere 3D is committed to rising shareholder price when honoring its commitment to rigorous environmental, social, and governance specifications. For far more details about the Organization, you should pay a visit to Sphere3D.com.

Forward-Hunting Statements

This interaction consists of ahead-searching statements inside of the that means of Portion 27A of the Securities Act, and Area 21E of the Securities Exchange Act of 1934, as amended. Forward-seeking statements generally relate to potential occasions, such as the timing of the proposed transaction and other information and facts linked to the proposed transaction. In some cases, you can detect forward-looking statements simply because they consist of terms such as “might,” “will,” “really should,” “expects,” “programs,” “anticipates,” “could,” “intends,” “target,” “jobs,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “go on” or the destructive of these words or other comparable terms or expressions. Anticipations and beliefs concerning matters discussed herein may well not materialize, and real benefits in foreseeable future intervals are subject matter to challenges and uncertainties that could induce actual benefits to differ materially from these projected. The forward-looking statements contained in this interaction are also topic to other hazards and uncertainties, which include all those much more totally explained in filings with the SEC, which includes Sphere 3D’s experiences submitted on Kind 20-F and Sort 6-K and in other filings made by Sphere 3D with the SEC from time to time and out there at www.sec.gov. These forward-hunting statements are dependent on existing expectations, which are subject matter to change.

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Contacts

Sphere 3D

NMN Advisors
Sphere3d@nmnadvisors.com

Kurt Kalbfleisch
Trader.relations@sphere3d.com