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

Sphere 3D Corp. (Nasdaq: ANY) (Sphere 3D), dedicated to becoming the leading carbon-neutral bitcoin mining company operating at an industrial scale, has announced that Timothy P. Hanley, a veteran financial executive with extensive experience advising companies on strategy creation and execution, navigating digital transformation, and market development, 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 Qualified Financial Expert with significant experience in the board room and with audit committees, Mr. Hanley (65) adds significantly to the financial and technology expertise of Sphere 3D's Board of Directors. He was most recently a Senior Partner with Deloitte LLP ("Deloitte"), where he served as the lead client service partner and advisory partner for Deloitte's global clients. In his leadership role, he was responsible for oversight of the Global Consumer and Industrial Products practice, including strategy implementation and growing the practice to over $14 billion in annual revenue.

"On behalf of the Board of Directors, I am pleased to be adding Tim's financial insights and perspectives as we execute our strategy to be a leader in the cryptocurrency and blockchain industries," said Duncan McEwan, Chairman of Sphere 3D. "We remain committed to optimizing the leadership, financial structure, and operations of our Company as we grow our mining fleet to an industrial scale with a view to capitalize on the enormous potential of the Bitcoin mining industry. We believe Tim's addition and the previously announced management and board changes will help expedite the implementation of our strategy."

"It is a great honor to join the board of directors of Sphere 3D as it executes its strategy to become a carbon-neutral leader in the cryptocurrency industry," said Mr. Hanley, newly appointed independent board member of Sphere 3D. "While global geopolitical and financial issues are challenging every financial market, the future of Bitcoin and blockchain offers significant upside. I am looking forward to helping Sphere 3D capture a share of that upside for our shareholders."