Sphere 3D Joins Crypto Climate Accord and plans to invest in Carbon Credits

Sphere 3D Corp., dedicated to becoming the leading carbon-neutral bitcoin mining company operating at an industrial scale, announced that the Company joined other top crypto and blockchain companies by signing the Crypto Climate Accord (“CCA”). The Company also announced that it has contracted to purchase 1 million carbon offset credits delivered over the next 14 months.

Sphere 3D Partnership with Crypto Climate Accord and Investment in Carbon Credits

Signing the Crypto Climate Accord and investing in additional carbon credits demonstrates Sphere 3D’s commitment to the net-carbon neutral operation of its growing fleet of S19j Pro miners. The Company expects to take delivery of a total of 60,000 S19j Pro miners by year-end 2022. The Company is dedicated to helping achieve the CCA goals by maintaining its net carbon-neutral status as the mining fleet grows and the Company expands into new areas of cryptocurrency and blockchain.

“Sphere 3D is proud that its cryptocurrency mining operation has been 100% carbon-neutral from the moment we activated our first miner. Through the commitment made to the CCA and the purchase of 1 million carbon credits, we are taking steps to achieve the goals of the CCA and to help drive down carbon emissions,” said Patricia Trompeter, CEO of Sphere 3D. “While energy consumption for miners is a debated subject, I am excited that these are the first initiatives I announce as Sphere 3D’s new CEO.”

Ms. Trompeter added, “I look forward to hearing about the latest renewable energy and green-energy strategies of other leading crypto and blockchain companies at Bitcoin 2022 this week. This event is a fantastic opportunity for the industry to share best practices, network, and learn from the smartest people in cryptocurrency and business.”