$ANY Sphere 3D Receives Shareholder Approval Related to Cathedra Combination; Combined Company to Operate Power Infrastructure Across the TVA Region and Iowa
https://www.accessnewswire.com/newsroom/en/bl...ti-1168885
STAMFORD, CT / ACCESS Newswire / May 21, 2026 / Sphere 3D Corp. (NASDAQ:ANY) ("Sphere 3D"
, a Bitcoin mining company today announced that shareholders have approved various proposals related to its business combination with Cathedra Bitcoin Inc. ("Cathedra" , including the issuance of Sphere 3D common shares to Cathedra shareholders. The transaction is expected to close on June 1, 2026, subject to the satisfaction of remaining customary closing conditions.
At closing, the combined company will operate over 50 megawatts of energized power infrastructure across a multi-region portfolio spanning the Tennessee Valley Authority service territory in Tennessee and Kentucky, within proximity to both the Nashville and Knoxville metropolitan areas, and an operating site in Iowa. The two-grid footprint provides geographic and utility diversification across the Southeast and Midwest.
The combined company will close with no outstanding debt and a fully unencumbered asset base, a balance sheet position management views as a strategic asset as it provides financial flexibility to pursue growth opportunities as they arise.
The combined company is evaluating its existing containerized, power-ready sites for potential retrofit to support AI and high-performance computing applications. The evaluation is expected to leverage existing energized infrastructure and modular deployment methods, with the goal of bringing AI-ready compute capacity online on accelerated timelines relative to traditional data center development. These evaluations are part of a broader review of how the combined company will present itself to the market following closing. Any such evaluation is preliminary, and no decisions regarding site repurposing, capital allocation, or timing have been made.
"Shareholder approval is a meaningful milestone, and I want to thank our shareholders for their support. Closing this combination will just be the beginning of what we're building," said Kurt Kalbfleisch, Chief Executive Officer of Sphere 3D, who will serve as Chief Financial Officer of the combined company following closing. "With this combination, we are bringing together a leadership team and board with experience that spans across capital structuring, complex transaction execution, and deep expertise in power procurement and utility infrastructure development. Joel Block's track record leading complex transactions will be a valuable addition as we position the combined company for its next phase. From the CFO seat, my focus will be on disciplined capital allocation and operational execution against an opportunity set that did not exist for companies our size a year ago."
https://www.accessnewswire.com/newsroom/en/bl...ti-1168885
STAMFORD, CT / ACCESS Newswire / May 21, 2026 / Sphere 3D Corp. (NASDAQ:ANY) ("Sphere 3D"
, a Bitcoin mining company today announced that shareholders have approved various proposals related to its business combination with Cathedra Bitcoin Inc. ("Cathedra" , including the issuance of Sphere 3D common shares to Cathedra shareholders. The transaction is expected to close on June 1, 2026, subject to the satisfaction of remaining customary closing conditions. At closing, the combined company will operate over 50 megawatts of energized power infrastructure across a multi-region portfolio spanning the Tennessee Valley Authority service territory in Tennessee and Kentucky, within proximity to both the Nashville and Knoxville metropolitan areas, and an operating site in Iowa. The two-grid footprint provides geographic and utility diversification across the Southeast and Midwest.
The combined company will close with no outstanding debt and a fully unencumbered asset base, a balance sheet position management views as a strategic asset as it provides financial flexibility to pursue growth opportunities as they arise.
The combined company is evaluating its existing containerized, power-ready sites for potential retrofit to support AI and high-performance computing applications. The evaluation is expected to leverage existing energized infrastructure and modular deployment methods, with the goal of bringing AI-ready compute capacity online on accelerated timelines relative to traditional data center development. These evaluations are part of a broader review of how the combined company will present itself to the market following closing. Any such evaluation is preliminary, and no decisions regarding site repurposing, capital allocation, or timing have been made.
"Shareholder approval is a meaningful milestone, and I want to thank our shareholders for their support. Closing this combination will just be the beginning of what we're building," said Kurt Kalbfleisch, Chief Executive Officer of Sphere 3D, who will serve as Chief Financial Officer of the combined company following closing. "With this combination, we are bringing together a leadership team and board with experience that spans across capital structuring, complex transaction execution, and deep expertise in power procurement and utility infrastructure development. Joel Block's track record leading complex transactions will be a valuable addition as we position the combined company for its next phase. From the CFO seat, my focus will be on disciplined capital allocation and operational execution against an opportunity set that did not exist for companies our size a year ago."
