Coolbit Technologies ^{Filed Terms, Nasdaq: CBAI}

The Company is a recently incorporated company engaged in the Bitcoin Mining sector. We employ an integrated Mining strategy that utilizes U.S. and Canadian-based Mining facilities to generate Bitcoin by performing computing associated with PoW. The Company’s current business plan does not include the expansion of its Mining operations to include Digital assets other than Bitcoin, or any other activities with, or the holding of, any other Cryptocurrencies other than Bitcoin. The Company’s business model is focused on the U.S. and Canada, and is centered on leasing high-performance Bitmain Miners from partners and utilizing third-party hosting providers for site operations, although we intend to expand and evolve our business model by utilizing a portion of the net proceeds of the offering to purchase Bitcoin Miners directly and possibly to acquire a Company-owned Mining facility. This strategic shift to a hybrid model, incorporating both owned and leased Miners, and to owning our Mining facility is intended to provide us with greater operational flexibility. However, currently, through our current long-term leasing agreements, the Company gains access to top-tier Mining equipment without large upfront infrastructure costs. The Miners are deployed to the hosting providers’ facilities, where the hosting providers handle installation, configuration, Mining pool connectivity and 24/7 monitoring and technical support.