The agreements place capacity under contract while preserving flexibility for future digital infrastructure opportunities

Stamford, Connecticut--(Newsfile Corp. - June 25, 2026) - Sphere 3D Corp. (NASDAQ:ANY) ("Sphere 3D" or the "Company"), a Nasdaq-listed digital infrastructure company with a multi-region power and data center footprint, today announced that it has entered into co-mining agreements with Bitdeer Technologies Group (NASDAQ:BTDR) ("Bitdeer"), a world-leading technology company for artificial intelligence ("AI") and Bitcoin mining infrastructure, to host 30 megawatts of capacity across three of Sphere 3D's data center sites in Tennessee and Kentucky.

The agreements provide Sphere 3D with contracted mining economics while the Company continues its site-by-site evaluation of broader digital infrastructure opportunities, including potential future applications in AI and high-performance compute.

Under the agreements, Bitdeer will deploy its SEALMINER A2 Pro Air mining hardware at three sites, and the parties will share the net mining proceeds. Each agreement has an initial one-year term, renewable for a further year unless either party elects otherwise and is structured to preserve flexibility as Sphere 3D continues evaluating the optimal use of its power-backed infrastructure.

The agreements are consistent with Sphere 3D's strategy of putting available power capacity to work with established counterparties while maintaining optionality across a rapidly changing digital infrastructure market. The agreements place a meaningful block of capacity under contract, adds operating visibility, and supports a disciplined approach to asset utilization.

"We are focused on building a platform that can respond to where digital infrastructure demand is going, while making practical use of the assets we control today," said Joel Block, Chief Executive Officer of Sphere 3D. "This agreement allows us to put 30 megawatts of capacity to work with a leading public company in the sector, generate current mining economics, and preserve flexibility as we continue evaluating AI and high-performance compute opportunities across our sites."

The transaction reflects the growing importance of access to power across the digital infrastructure landscape. Power availability, site readiness, and operating discipline are becoming increasingly important factors in how infrastructure assets are valued and deployed.

Sphere 3D continues to assess each site based on power availability, interconnection profile, operating requirements, capital needs, counterparty demand, and technical feasibility. The Company expects to continue evaluating opportunities that may improve utilization of its infrastructure while maintaining a disciplined approach to capital allocation and execution risk.

About Sphere 3D Corp.

Sphere 3D Corp. (NASDAQ:ANY) is a digital infrastructure company focused on operating and expanding scalable power and data center assets for high-performance computing, AI workloads, and digital asset infrastructure. Following its business combination with Cathedra Bitcoin, Sphere 3D operates a diversified platform with approximately 53 MW of operating power capacity across multiple U.S. data center locations and a development pipeline exceeding 100 MW of potential expansion opportunities. The Company combines infrastructure ownership, energy optimization expertise, and capital markets access to pursue long-term value creation across next-generation compute infrastructure. For more information, visit www.sphere3d.com.

About Bitdeer Technologies Group

Bitdeer is a world-leading technology company for AI and Bitcoin mining infrastructure. Bitdeer is committed to providing comprehensive Bitcoin mining solutions for its customers and building AI computational infrastructure to support the AI revolution. Bitdeer handles complex processes involved in computing such as equipment procurement, transport logistics, data center design and construction, equipment management, and daily operations. Bitdeer also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed data centers across multiple countries, including the United States, Norway, Bhutan, and Ethiopia.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, including statements in this press release regarding the expected benefits of the co-mining agreements, anticipated mining economics, the deployment of mining equipment, the utilization of Sphere 3D's power assets, potential future applications in AI and high-performance compute, the Company's site evaluation process, future infrastructure opportunities, and the Company's business strategy.

In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions. Expectations and beliefs regarding matters discussed herein may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including general market conditions and those more fully described in filings with the Securities and Exchange Commission ("SEC"), including Sphere 3D's reports filed on Form 10-K and Form 8-K and in other filings made by Sphere 3D with the SEC from time to time and available at www.sec.gov. These forward-looking statements are based on current expectations, which are subject to change. All forward-looking statements speak only as of the date they are made and are based on information available at that time. The Company does not assume any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by applicable securities laws.

For further information, please contact:

investor.relations@sphere3d.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302728

Sphere 3D Enters 30 MW Co-Mining Agreements with Bitdeer, Monetizing Power Assets While Advancing AI Infrastructure Evaluation