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Form 8-K

sec.gov
ANY The company is selling its Iowa site for $1.5 million and all its mining machines for $3.1 million. While this generates cash and reduces legacy assets, it also indicates a shift away from its previous operational focus.

8-K — Sphere 3D Corp.

Accession: 0001213900-26-098043

Filed: 2026-09-08

Period: 2026-09-01

CIK: 0001591956

SIC: 6199 (FINANCE SERVICES)

Item: Entry into a Material Definitive Agreement

Documents

8-K — ea0304863-8k_sphere.htm (Primary)

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date

of Report (Date of earliest event reported): September

1, 2026

SPHERE 3D CORP.

(Exact

name of registrant as specified in its charter)

Ontario

001-36532

98-1220792

(State or other jurisdiction

(Commission File Number)

(IRS Employer

of incorporation)

Identification No.)

243 Tresser Blvd, 17th Floor

Stamford,

Connecticut,

United States 06901

(Address of principal executive

offices) (ZIP Code)

Registrant’s

telephone number, including area code: (647)

952 5049

Not

Applicable

(Former name or former address,

if changed since last report)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

☐ Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities

registered pursuant to Section 12(b) of the Act:

Title

of Each Class

Trading

Symbol(s)

Name

of Each Exchange on Which Registered

Common Shares

ANY

Nasdaq

Capital Market

Common Shares Purchase Rights

N/A

Nasdaq Capital Market

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging

growth company ☐

If

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

Sale of Iowa Site

On September 1, 2026, Sphere

3D Corp. (the “Company”) entered into a definitive agreement (the “Iowa Agreement”) with Simple

mining, LLC (“Buyer”) to sell the Company’s Iowa site (“Iowa Site”) for a purchase price of $1.5

million (the “Purchase Price”). Pursuant to the Iowa Agreement, the Company has terminated its sublease agreement with

the Buyer with respect to the Iowa Site and assigned all its rights to the mining containers, transformers and related equipment at the

Iowa Site to Buyer. The Company received $300,000 in cash from Buyer. With respect to the remaining portion of the Purchase Price, the

Company has entered into an interest free promissory note with the Buyer for $1.2 million, payable in equal monthly installments over

a 12-month period commencing on December 1, 2026 and continuing through November 1, 2027. In addition, pursuant to the Iowa Agreement,

the Company is entitled to the return of its utility prepayment of approximately $300,000 and its security deposit of approximately $225,000.

Sale of All Company-Owned Mining Machines

In addition, on September

1, 2026, the Company also entered into a binding term sheet (the “Mining Machine Agreement”) with RepairBit, LLC to

sell approximately 5,500 proprietary mining machines, which constitutes all of the Company’s existing legacy fleet of owned mining

machines, for aggregate proceeds of approximately $3.1 million. The mining machines are to be sold and delivered over a 90-day period

which began on September 1, 2026. The Company retains ownership of the miners until payments for such miners are received.

The foregoing descriptions

of the Iowa Agreement and Mining Machine Agreement do not purport to be complete and are qualified in their entirety by reference to the

full text of the Iowa Agreement and Mining Machine Agreement, copies of which will be filed as an exhibit to the Company’s next

Quarterly Report on Form 10-Q.

1

SIGNATURES

Pursuant to the requirements of the Securities

Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto

duly authorized.

Date: September 8, 2026

SPHERE 3D CORP.

By:

/s/ Kurt Kalbfleisch

Kurt Kalbfleisch

Chief Executive Officer

2

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