Mr. Akshay Sood reports

CRYPTOBLOX TRIPLES BITCOIN MINING HASHRATE

Cryptoblox Technologies Inc.'s wholly owned subsidiary, Red Water Acquisition Corp., commenced operations at its Redwater, Alta., site after entering into a management services agreement (MSA) with True North Data Solutions Ltd. (TNDS) on Oct. 7, 2024.

Redwater bitcoin mining ramping up

On Oct. 7, 2024, the date on which the MSA was signed, the Redwater facility operated at an average hashrate of four peta hashes per second (PH/s). On Nov. 5 and 6, 2024, the site operated at an average hashrate of 14 PH/s, which is more than triple the Oct. 7, 2024, hash rate. In the company's view, this increase in output reflects the company's operational excellence in the digital asset mining space.

"We plan on taking the maximum advantage of current bitcoin prices," said Akshay Sood, the chief executive officer of Cryptoblox.

"With our machines now operating at the higher hash rate, we are setting ourselves up to mine three times as many bitcoins as when we entered into the MSA," continued Mr. Sood.

A major step forward within digital asset mining and infrastructure

With operations commencing at Redwater and the company's agreement to acquire a Kaspa mining operation, Cryptoblox is proud to have established its digital asset mining and infrastructure division. With the onboarding process complete at the Redwater site, the company's 133 S19J Pro miners are performing optimally, contributing to the company's diversified blockchain ecosystem strategy. This launch signifies Cryptoblox's commitment to leveraging cutting-edge technology to enhance its mining capacity while exploring sustainable mining operations powered by alternate energy sources.

CEO's outlook on future growth

Mr. Sood, CEO of Cryptoblox, commented:

"We are delighted to bring the Redwater site on-line and more than triple the site's hashrate since signing the MSA. With bitcoin hitting a new all-time high on Nov. 5, our S19J Pros now operate at an impressive 14 PH/s, strengthening our ability to mine bitcoin."

"As part of our long-term strategy, we plan to continue to expand by acquiring additional mining assets and sites diversifying our digital asset mining portfolio."

About Cryptoblox Technologies Inc.

Cryptoblox Technologies Inc. is a blockchain technology infrastructure company focusing on building out its diversified blockchain ecosystem strategy that consists of digital asset mining and infrastructure, mining products and technology, and structured blockchain products and services.

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