Duncan McEwan
Duncan McEwan and Susan Harnett resigned from the board of directors of Sphere
Highest-materiality recent filing
Sphere 3D completes acquisition of Cathedra Bitcoin; Block appointed CEO, board reconstituted
Acquisition closed June 1, 2026: Cathedra becomes wholly-owned subsidiary; each Cathedra SV share exchanged for 0.123014 Sphere common shares.
Sphere 3D shareholders approve Cathedra merger; combined firm to run 50+ MW power sites
Shareholders approved share issuance, board size (5 directors), director slate (Hanley, Dent, Kalbfleisch, Block, Gates), incentive plan increase (1.5M shares), and share consolidation up to 1:5.
Sphere 3D Q1 net loss $4.1M, revenue $1.9M; Bitcoin production down 17% YoY
Revenue $1.9M, down 32% YoY; net loss $4.1M ($1.18/share) improved from $8.8M loss.
Sphere 3D shareholders approve board size, elect three directors, ratify auditors
Board size set at three members; 88.56% votes in favor, 11.45% against.
Sphere 3D and Cathedra advancing combination to create 53 MW data center platform
Transaction remains expected to close in near term pending customary conditions and approvals.
Sphere 3D to acquire Cathedra Bitcoin in all-stock deal; Cathedra holders get ~49% of combined firm
Cathedra shareholders receive ~49% of Sphere's outstanding shares on partially diluted basis as consideration.
Sphere 3D FY 2025 revenue $11.2M (down 32%); mined 111.6 BTC; merger with Cathedra pending
Revenue $11.2M vs $16.6M in FY 2024, down ~32% due to April 2024 halving and equipment replacement.
Sphere 3D regains Nasdaq minimum bid price compliance, delisting risk resolved
Received Nasdaq notice on February 26, 2026, confirming compliance with Rule 5550(a)(2).
Sphere 3D effects 1-for-10 reverse stock split; mined 111.6 BTC in 2025, G&A down 50% YoY
1-for-10 reverse stock split effective Feb 9, 2026; shares reduce from ~33.9M to ~3.39M.
Sphere 3D shareholders approve warrant inducement, name change, and adjournment proposals
33,729,165 shares outstanding, with 12,039,300 (36%) present at January 15, 2026 special meeting.
Appoints Tiah Reppas as Chief Accounting Officer with $280K salary, 500K RSU grant
Tiah Reppas appointed CAO effective Dec 17; base salary $280K, eligible for 60% discretionary bonus.
Sphere 3D appoints Kurt Kalbfleisch as permanent CEO, effective immediately
Kalbfleisch had served as Interim CEO since January 2025; will continue as CFO.
Sphere 3D Q3 revenue $2.6M, loss from ops shrinks 23%, Bitcoin production down 41% YoY
Revenue $2.6M, up 8% YoY from $2.4M; mined 23.0 BTC vs 38.7 BTC in Q3 2024.
Sphere 3D enters warrant inducement; existing holder exercises at $0.94 for ~$4M gross proceeds
Existing warrant holder exercises 4,368,211 warrants at reduced $0.94/share, generating ~$4.0M gross proceeds.
Sphere 3D gets second 180-day Nasdaq extension to March 2, 2026 for minimum bid price
Bid price closed below $1.00 for 30 consecutive days; first compliance period ended Sept 2, 2025 without cure.
Sphere 3D Q2 2025 revenue $3.0M (down 36% YoY); Bitcoin production 30.9 vs 70.7
Net income of $1.7M ($0.06 EPS) vs $2.1M ($0.11 EPS) in Q2 2024; revenue fell to $3.0M from $4.7M.
Sphere 3D shareholders approve share consolidation and 2025 stock plan at annual meeting
All four director nominees elected: Timothy Hanley (93.0% for), Susan Harnett (93.0%), Duncan J. McEwan (93.0%).
Sphere 3D Q1 net loss $8.8M; revenue down 59% YoY to $2.8M
Net loss $8.8M ($0.32 per share) vs $4.5M loss in Q1 2024; revenue $2.8M vs $6.9M YoY.
Sphere 3D enters amended employment agreement with CFO; grants 1M RSUs valued at $493K
Amended and restated employment agreement with CFO Kurt Kalbfleisch, effective April 22, 2025.
Sphere 3D FY2024 revenue $16.6M, net loss improves to $9.5M vs $23.4M in FY2023
Revenue $16.6M in FY2024, down from $21.9M in FY2023 due to miner upgrades and sale of Service segment.
Sphere 3D launches first vertically integrated Bitcoin mining facility in Iowa
New Iowa mining site is fully online; marks shift from hosted/third-party to owned infrastructure.
Sphere 3D settles all claims with Gryphon Digital Mining, no payment made
Confidential settlement reached with Gryphon Digital Mining to dismiss all claims.
Sphere 3D receives Nasdaq deficiency notice for bid price below $1.00; 180 days to cure
Received Nasdaq notice on March 6, 2025 for 30 consecutive days below $1.00 minimum bid price.
Sphere 3D CEO Patricia Trompeter passes away; CFO Kalbfleisch remains acting CEO
CEO Patricia Trompeter passed away March 4, 2025 after battle with cancer.
Sphere 3D CEO Patricia Trompeter takes temporary medical leave; CFO becomes acting CEO
Patricia Trompeter to take ~4-month medical leave for an existing health condition, remains on board.
Sphere 3D enters ATM equity sales agreement for up to $8M of common shares
Up to $8M in common shares may be sold at-market through A.G.P./Alliance Global Partners.
Sphere 3D raises ~$6M via registered direct offering and private placement of shares and warrants
Company to issue 4,225,353 common shares (or equivalents) at $1.42/share, raising ~$6M gross proceeds.
Sphere 3D regains Nasdaq compliance; October Bitcoin mining up 27% MoM to 11.7 BTC
Regained Nasdaq minimum bid price compliance under Rule 5550(a)(2); matter closed Nov 15, 2024.
Sphere 3D Q3 2024: Bitcoin mined drops 79% YoY to 38.7 BTC; net income $0.1M vs loss
Mined 38.7 Bitcoin in Q3 2024, down from 181.7 BTC in Q3 2023 (79% YoY decline).
Sphere 3D mined 9.2 Bitcoin in Sept 2024; hash rate down to 0.7 EH/s amid strategic shift
Bitcoin mined 9.2 in Sept, down from 12.7 in Aug and 63.6 in Sept 2023; mining revenue $0.6M.
Sphere 3D receives Nasdaq bid price deficiency notice; 180 days to regain compliance
Nasdaq notified Sphere 3D on Oct 10, 2024 that bid price closed below $1.00 for 30 consecutive trading days.
Sphere 3D Reports August 2024 Bitcoin Mining Results and Strategic Updates
12.7 Bitcoin mined in August 2024, compared to 58.3 in Aug 2023 and 16.8 in July 2024.
12.5 MW site in Iowa with average power cost below 4 cents per kWh.
Sphere 3D mined 16.8 Bitcoin in July 2024; fleet refresh begins with S21s
Mined 16.8 Bitcoin in July 2024, down from 20.4 in June and 59.8 in July 2023.
Sphere 3D reports Q2 net income of $2.1M on $7.3M unrealized gain; Bitcoin mined down 60% YoY
Mined 70.7 Bitcoin vs 178.4 in Q2 2023; revenue fell to $4.7M from $5.5M.
Gryphon dismissed its negligence claim with prejudice; Sphere continues claims exceeding $25M for spoofing attack.
Sphere 3D annual meeting: board set at 4, directors re-elected, stock plan increased by 500K shares
Shareholders set board size at 4 with 88.2% in favor.
Sphere 3D Q1 revenue $6.9M (+130% YoY); net loss $4.5M, widens from $3.5M
Revenue $6.9M, up 130% YoY; mined 144.8 Bitcoin vs 110.3 in Q1 2023.
Sphere 3D mined 29.9 Bitcoin in April; hash rate drops to 0.9 EH/s
Mined 29.9 Bitcoin (vs 35.6 YoY, 26.0 March); sold 29.1; holdings 2.6 at month end.
Sphere 3D cuts CEO salary to $350k; new CFO agreement with $320k salary and RSU grant
CEO Patricia Trompeter voluntarily reduced base salary from $450k to $350k, effective Jan 22, 2024; arrears payable on request.
Sphere 3D terminates CFO Kalbfleisch's employment agreement; new deal being negotiated
CFO Kurt Kalbfleisch's employment agreement will terminate on June 20, 2024.
Sphere 3D mined 40.3 BTC in Feb (+15% YoY); Gryphon returned $1.2M cash; M&A talks
40.3 BTC mined in Feb (+15% YoY); hash rate 1.2 EH/s flat; uptime 60% due to hosting outage.
Sphere 3D sues Gryphon Digital Mining for $1.7M asset theft
Filed suit March 19, 2024 in SDNY against Gryphon Digital Mining.
Sphere 3D terminates hosting agreement with Rebel Mining, reserves breach-of-contract rights
Sphere 3D Corp. terminated its Master Hosting Services Agreement with Rebel Mining Company, LLC, effective March 14, 2024.
Sphere 3D FY2023 revenue $21.9M, net loss improved to $23.4M; mined 667 Bitcoin, hashrate 1.3 EH/s
Revenue $21.9M vs $6.1M in 2022; net loss $23.4M ($1.93/share) vs $192.8M ($20.36/share).
Annual meeting set for May 15, 2024; more than 30 days from prior year anniversary, triggering new deadlines.
Sphere 3D mines 61 Bitcoin in Jan 2024, up 61% YoY; hash rate drops to 1.2 EH/s on machine transfers
Mined 61.0 Bitcoin in January, a 61% increase year-over-year, but down 17% from December.
Sphere 3D settles with Core Scientific for $10M in equity; court approves
Sphere 3D will receive $10M in Core equity, accessible for trading upon Core's effective date.
Sphere 3D enters new employment agreement with CEO Patricia Trompeter; base salary $450k plus RSUs
Annual base salary of $450,000; eligible for annual discretionary bonus up to 150% of base salary.
Sphere 3D mined 73.5 BTC in Dec (+311% YoY); $10M Core Scientific settlement
73.5 Bitcoin mined in December 2023, up 311% YoY and 3% from November; hash rate 1.3 EH/s flat month-on-month.
Duncan McEwan and Susan Harnett resigned from the board of directors of Sphere
Kurt Kalbfleisch, Marcus Dent, Joel Block and Nicholas Gates have been appointed to the Sphere Board
Joel Block, age 42, was appointed Sphere's Chief Executive Officer effective as of the Closing Date
Kurt Kalbfleisch, Marcus Dent, Joel Block and Nicholas Gates have been appointed to the Sphere Board
Timothy Hanley, has been appointed Chairman
Kurt Kalbfleisch, Marcus Dent, Joel Block and Nicholas Gates have been appointed to the Sphere Board
Kurt Kalbfleisch, Marcus Dent, Joel Block and Nicholas Gates have been appointed to the Sphere Board
Duncan McEwan and Susan Harnett resigned from the board of directors of Sphere
Max materiality 0.85 · Median 0.60 · Most common event other_material