Ms. Taryn Stemp reports

CRYPTOBLOX TO UTILIZE ADVANCED AI ENERGY EFFICIENCY OPTIMIZATION ALGORITHMS TO SUPPORT REDWATER'S BITCOIN MINING OPERATIONS

Further to Cryptoblox Technologies Inc.'s news release dated July 25, 2023, through the partnership between the company's wholly owned subsidiary, Redwater Acquisition Corp., and Lavrium LLC, Lavrium will be applying its AI (artificial intelligence) energy efficiency optimization algorithms to Redwater's mining operations.

As the cryptocurrency mining industry faces increasing pressure to maximize energy efficiency, Lavrium's cutting-edge AI algorithms offer an effective solution. By analyzing data such as transaction volumes, power usage effectiveness (PUE) and hash rates, Lavrium's algorithms can predict optimal mining periods based on historical and real-time data. The company hopes that this novel approach will allow Redwater to maximize its return on energy investment while significantly reducing operational costs.

One of the key advantages of Lavrium's algorithms is its adaptability through machine learning. As the algorithms continuously learn and refine their predictions, they improve energy efficiency over time, resulting in more economical and environmentally friendly mining operations. The company hopes this will not only enhances Redwater's profitability but also contribute to a sustainable energy future.

"Lavrium's revolutionary AI energy efficiency optimization algorithms could prove to be a game-changer for the cryptocurrency mining industry. We are excited to partner with Lavrium to transform our mining operations and increase our efficiency," commented Cryptonlox interim chief executive officer Taryn Stemp.

The integration of Lavrium's advanced AI technology into Redwater's mining operations is expected to drive significant improvements in energy efficiency and overall profitability. The implementation of these algorithms will be facilitated by True North Data Systems, a renowned data centre solutions provider working in collaboration with Redwater.

About Cryptoblox Technologies Inc.

Cryptoblox Technologies is a blockchain technology company with diversified portfolio of fintech blockchain services, blockchain battery technologies and applications, and crypto mining facilities under development. The company's acquisition of Redwater marks a significant milestone in its plan to meet the fast-growing demand for cost-effective cryptocurrency infrastructure in North America. By integrating its mining facilities into power generation facilities in Alberta, and using state-of-the-art operations techniques, the company will be positioned to achieve a high degree of financial optionality and long-term operational certainty that can deliver some of the cleanest and lowest-cost mining operations in the world. The company recently acquired a 100-per-cent interest in Redwater Acquisition, which is a company specializing in air-cooled data centres and advanced heat recapture products. Committed to environmental sustainability, Redwater Acquisition aims to revolutionize the crypto mining sector through innovative technologies that enhance efficiency and reduce the industry's carbon footprint.

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