Sphere 3D Gives September 2023 Manufacturing and Operation Updates

Sphere 3D Corp. (ANY) offers outcomes of its Bitcoin mining operation for September 2023.

Key Highlights:

• 63.6 Bitcoin mined in September, up 9.1% from August and up 473% YoY.
• Month-end working hash price was 1.3 EH/s, flat from August and up 13X YoY.
• Operations achieved 84.0 BTC/EH effectivity.
• Uptime was 66% because of curtailments from increased temperatures at a number of websites.

*Unaudited

CEO Feedback

“We mined 63.6 Bitcoin in September, representing a 473% enhance year-over-year and a 9.1% enhance from August,” mentioned Patricia Trompeter, CEO of Sphere 3D. “The upper manufacturing in September was pushed by lowered curtailments on account of decrease temperatures at our internet hosting websites. Wanting ahead, we anticipate curtailments to proceed to enhance as we enter the winter months, which ought to lead to increased Bitcoin manufacturing, all else equal.”

Core Scientific Replace

As beforehand disclosed by the Firm, on October 31, 2022, the Firm filed an arbitration request in opposition to Core Scientific asserting numerous claims, together with breach of contract and conversion. In December 2022, Core Scientific and sure of its associates (collectively, “Core”) filed for Chapter 11 chapter. In reference to the chapter continuing, Sphere has filed proofs of claims in opposition to Core. On Might 9, 2023, Core filed objections to Sphere’s proof of claims.

On June 9, 2023, Core filed a movement for abstract judgment searching for the abstract dismissal of Sphere’s claims. On August 7, 2023, the chapter court docket held a listening to on the movement for abstract judgment. On August 9, 2023, the court docket entered an order denying the movement for abstract judgment.

The chapter court docket subsequently entered a scheduling order that requires a deserves listening to within the first quarter of 2024. Sphere 3D intends to proceed to vigorously prosecute the matter.

Gryphon Replace

On October 6, 2023, Sphere 3D Corp. (“Sphere”) terminated, efficient instantly, the Grasp Providers Settlement between Sphere and Gryphon Digital Mining, Inc., dated August 10, 2021, as amended on December 29, 2021.

About Sphere 3D

Sphere 3D Corp. (ANY) is a web carbon-neutral cryptocurrency miner with many years of confirmed enterprise data-services experience. The Firm is rising its industrial-scale mining operation by means of the capital-efficient procurement of next-generation mining gear and partnering with best-in-class knowledge middle operators. Sphere 3D is devoted to rising shareholder worth whereas honoring its dedication to strict environmental, social, and governance requirements. For extra details about the Firm, please go to Sphere3D.com.

Ahead-Wanting Statements

This communication incorporates forward-looking statements inside the that means of Part 27A of the Securities Act, and Part 21E of the Securities Alternate Act of 1934, as amended. In some instances, you’ll be able to determine forward-looking statements as a result of they include phrases resembling “could,” “will,” “ought to,” “consultants,” “plans,” “anticipates,” “might,” “intends,” “goal,” “venture,” “contemplates,” “believes,” “believes,” “estimates,” “predicts,” “potential,” or “proceed” or the adverse of those phrases or different comparable phrases or expressions. Expectations and beliefs concerning issues mentioned herein could not materialize, and precise leads to future intervals are topic to dangers and uncertainties that would trigger precise outcomes to vary materially from the projected. The forward-looking statements contained on this communication are additionally topic to different dangers and uncertainties, together with these extra absolutely described in filings with the SEC, together with Sphere 3D’s experiences filed on Kind 10-Ok and Kind 8-Ok and in different filings made by Sphere 3D with the SEC once in a while and accessible at www.sec.gov. These forward-looking statements are based mostly on present expectations, that are topic to vary.

Sphere 3D Contacts

Kurt Kalbfleisch CFO, Sphere 3D
Investor.relations@sphere3d.com

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