Sphere 3D(ANY) - 2024 Q3 - Quarterly Results

Mining Performance - Sphere 3D mined 38.7 Bitcoin during Q3 2024, a decrease of 78.7% compared to 181.7 Bitcoin in Q3 2023[4] - Mining revenue for Q3 2024 was $2.4 million, down 53.1$5.1 million in Q3 2023[5] - The company ended Q3 2024 with a hashrate of approximately 0.7 EH/s[2] Financial Performance - Other income for Q3 2024 was $5.8 million, significantly up from$0.1 million in Q3 2023, including a $3.0 million inflow from a hosting contract buyout[5] - Operating costs and expenses decreased to$7.5 million in Q3 2024, down 38.5% from $12.1 million in Q3 2023[6] - Net income for Q3 2024 was$0.1 million, compared to a net loss of $6.3 million in Q3 2023, marking a significant turnaround[6] Assets and Equity - As of September 30, 2024, Sphere 3D had Bitcoin holdings of 1.3 Bitcoin, with a market value of approximately$0.08 million[4] - Total assets as of September 30, 2024, were $44.3 million, a slight decrease from$45.7 million at the end of 2023[10] - Total shareholders' equity increased to $36.0 million as of September 30, 2024, up from$26.5 million at the end of 2023[10] Future Plans - Sphere 3D plans to acquire a 12.5 MW site in Iowa with average energy costs below $0.04 per kWh[2]