Company: ANY
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001591956-25-000009
Chunk: 48

Company: Sphere 3D Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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 any portion of the then outstanding and unpaid Rainmaker Note and interest into shares of Rainmaker common stock at the conversion price as defined in the Rainmaker Note. All amounts related to the Rainmaker Note have been fully reserved in prior periods.

6.    Certain Balance Sheet Items

The following table summarizes other current assets (in thousands): June 30,2025December 31,2024Bitcoin mining hosting deposit$730 $2,490 Prepaid insurance113 547 Prepaid services140 270 Prepaid mining hosting services— 100 Other17 31 Other current assets$1,000 $3,438 In January 2025, the Company terminated the Rebel Hosting Agreement and agreed to a settlement amount of $2.4 million, which was included in Bitcoin mining hosting deposit at December 31, 2024. The following table summarizes property and equipment, net (in thousands):June 30,2025December 31,2024Mining equipment$26,709 $27,214 Infrastructure1,516 — Construction in progress323 1,750 Total28,548 28,964 Accumulated depreciation(8,904)(6,997)Property and equipment, net$19,644 $21,967 Depreciation expense for property and equipment was $1.3 million and $1.5 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense for property and equipment was $2.5 million and $2.9 million for the six months ended June 30, 2025 and 2024, respectively.

13

For the six months ended June 30, 2025 and 2024, the Company sold 950 and 450 miners, respectively, that were included in mining equipment, for proceeds of $0.3 million and $0.2 million, respectively. The Company had a loss on the sale of miners of nil and $0.8 million during the three and six months ended June 30, 2025, respectively. The Company had a loss on the sale of miners of 0.7 million during both the three and six months ended June 30, 2024.In March 2025, the infrastructure for an 8 MW site in Iowa was completed, and the Company entered into a management services agreement with Simple Mining LLC (“Simple Mining”) to manage the