Company: ANY
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001591956-25-000006
Chunk: 15

Company: Sphere 3D Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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Certain Balance Sheet Items

The following table summarizes other current assets (in thousands): March 31,2025December 31,2024Bitcoin mining hosting deposit$490 $2,490 Prepaid insurance365 547 Prepaid services305 270 Prepaid mining hosting services— 100 Other17 31 Other current assets$1,177 $3,438 In January 2025, the Company terminated the Rebel Hosting Agreement and agreed to a settlement amount of $2.4 million, which is included in Bitcoin mining hosting deposit at December 31, 2024. The following table summarizes property and equipment, net (in thousands):March 31,2025December 31,2024Mining equipment$26,784 $27,214 Infrastructure1,516 — Construction in progress323 1,750 Total28,623 28,964 Accumulated depreciation(7,633)(6,997)Property and equipment, net$20,990 $21,967 Depreciation expense for property and equipment was $1.2 million and $1.4 million for the three months ended March 31, 2025 and 2024, respectively. For the three months ended March 31, 2025 and 2024, the Company sold 950 and no miners, respectively, that were included in mining equipment, for proceeds of $0.3 million and nil, respectively. The Company had a loss on the sale of miners of 0.8 million and nil during the three months ended March 31, 2025 and 2024, respectively.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.For the three months ended March 31, 2025 and 2024, the Company did not incur any impairment charges for its property and equipment.The following table summarizes other non-current assets (in thousands):March 31,2025December 31,2024Prepaid mining hosting deposit$773 $308 Prepaid services67 68 Other4 3 Other non-current assets$844 $379 

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7.    Intangible Assets

The following table summarizes intangible assets, net (in thousands):March 31