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

TORONTO, May possibly 31, 2022–(Business enterprise WIRE)–Sphere 3D Corp. (Nasdaq: ANY) (Sphere 3D), devoted to turning into the major carbon-neutral bitcoin mining corporation functioning at an industrial scale, has introduced that Timothy P. Hanley, a veteran fiscal executive with in depth knowledge advising businesses on technique creation and execution, navigating digital transformation, and market place development, 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 Certified Money Pro with considerable encounter in the board room and with audit committees, Mr. Hanley (65) adds noticeably to the economical and technological know-how abilities of Sphere 3D’s Board of Directors. He was most a short while ago a Senior Lover with Deloitte LLP (“Deloitte”), exactly where he served as the guide consumer provider companion and advisory spouse for Deloitte’s worldwide shoppers. In his management purpose, he was responsible for oversight of the World-wide Customer and Industrial Items apply, such as tactic implementation and growing the observe to about $14 billion in once-a-year revenue.

“On behalf of the Board of Directors, I am delighted to be adding Tim’s monetary insights and perspectives as we execute our strategy to be a chief in the cryptocurrency and blockchain industries,” stated Duncan McEwan, Chairman of Sphere 3D. “We keep on being committed to optimizing the management, economical framework, and operations of our Corporation as we grow our mining fleet to an industrial scale with a look at to capitalize on the monumental likely of the Bitcoin mining sector. We imagine Tim’s addition and the beforehand introduced administration and board changes will help expedite the implementation of our approach.”

“It is a terrific honor to sign up for the board of directors of Sphere 3D as it executes its method to become a carbon-neutral leader in the cryptocurrency field,” mentioned Mr. Hanley, newly appointed independent board member of Sphere 3D. “When world geopolitical and economical concerns are tough every single monetary current market, the future of Bitcoin and blockchain presents sizeable upside. I am on the lookout ahead to supporting Sphere 3D seize a share of that upside for our shareholders.”

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The addition of Mr. Hanley provides Sphere 3D’s Board to 4 administrators, 3 of whom are independent. In April 2022, the Firm announced that it would extend its Board to 5 customers. A lookup is ongoing for an further board member.

About Timothy P. Hanley

Timothy Hanley is a seasoned worldwide executive with substantial practical experience consulting with manufacturers with regards to electronic transformation, organizational tactic progress and execution, acquisitions, and current market improvement. Mr. Hanley is a Skilled Financial Pro and has important encounter in the board area and operating with audit committees.

Mr. Hanley was most a short while ago a Senior Spouse with Deloitte LLP (“Deloitte”), wherever he led the firm’s World wide Consumer and Industrial Products practice and assisted develop the follow to much more than $14 billion in yearly earnings. In his management role, he acted as a lead shopper support lover and an advisory spouse for quite a few of the firm’s most important international purchasers. All through his 17 years at Deloitte, Mr. Hanley served in a lot of shopper-support and industry leadership roles. Ahead of his most new part as the Global Purchaser and Industrial Solutions Sector Chief, Tim’s leadership roles bundled serving as the U.S. Vice Chairman and Course of action and Industrial Merchandise Chief.

Mr. Hanley began his job at Arthur Andersen in 1978 and served as an audit spouse on lots of of the major companies in Wisconsin. He served as a board member of the Nationwide Association of Suppliers from 2008 to 2017 and often advises privately held corporations in the consumer products and solutions, retail, and distribution industries. Mr. Hanley at the moment serves as the Acting Keyes Dean for the Faculty of Enterprise at Marquette University.

About Sphere 3D

Sphere 3D Corp. (Nasdaq: ANY) is a web carbon-neutral cryptocurrency miner with a long time of established company information-solutions abilities. The Organization is rapidly expanding its industrial-scale mining operation by the funds-economical procurement of following-era mining tools and partnering with finest-in-course info center operators. Sphere 3D has ~6. EH/s of capability beneath contract for deliveries this yr. Currently, the Corporation operates a fleet of ~1,000 miners and expects delivery of an added 59,000 miners by yr-close 2022 for a total hashing potential of 6. exahash. Sphere 3D is devoted to increasing shareholder worth though honoring its determination to demanding environmental, social, and governance expectations. For extra data about the Corporation, you should go to Sphere3D.com.

Forward-Hunting Statements

This conversation contains forward-looking statements in the this means of Segment 27A of the Securities Act, and Segment 21E of the Securities Trade Act of 1934, as amended. Forward-hunting statements commonly relate to long term events, together with the timing of the proposed transaction and other information associated to the proposed transaction. In some scenarios, you can determine ahead-searching statements mainly because they have words and phrases this sort of as “could,” “will,” “should,” “expects,” “options,” “anticipates,” “could,” “intends,” “target,” “assignments,” “contemplates,” “believes,” “estimates,” “predicts,” “opportunity” or “keep on” or the adverse of these text or other comparable conditions or expressions. Expectations and beliefs regarding matters mentioned herein might not materialize, and precise results in long run periods are matter to hazards and uncertainties that could bring about actual effects to vary materially from these projected. The forward-hunting statements contained in this conversation are also subject matter to other hazards and uncertainties, which include individuals much more totally described in filings with the SEC, which includes Sphere 3D’s studies filed on Type 20-F and Sort 6-K and in other filings built by Sphere 3D with the SEC from time to time and readily available at www.sec.gov. These ahead-seeking statements are based on present anticipations, which are subject matter to adjust.

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Contacts

Sphere 3D

NMN Advisors
[email protected]

Kurt Kalbfleisch
[email protected]