Company: ANY
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001591956-25-000009
Chunk: 17

Company: Sphere 3D Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 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 mining site. The remaining amount in construction in progress relates to equipment open to be determined deployment.Impairment of Property and EquipmentFor the three and six months ended June 30, 2025, the Company did not incur any impairment charges for its property and equipment. For the three and six months ended June 30, 2024, the Company recorded an impairment to property and equipment related to idle mining equipment not expected to return to use. The Company compared the indicated fair value to the carrying value of the mining equipment, and as a result of the analysis, an impairment charge of $0.9 million was recorded for the three and six months ended June 30, 2024. The estimated fair value of the Company’s mining equipment is classified in Level 3 of the fair value hierarchy. The following table summarizes other non-current assets (in thousands):June 30,2025December 31,2024Prepaid mining hosting deposit$773 $308 Utilities deposit225 — Prepaid services102 68 Other4 3 Other non-current assets$1,104 $379 

7.    Intangible Assets

The following table summarizes intangible assets, net (in thousands):June 30,2025December 31,2024Supplier agreements$37,525 $37,525 Accumulated amortization(35,172)(34,430)Intangible assets, net