Hyper Bit Announces Execution of Definitive Agreement to Acquire Dogecoin Mining Technologies Corp., With Hardware Supply Agreements for up to 2,660 ElphaPex DG1+ and DG2 Miners to be Hosted at Renewable Power Facility with Access to 11 MW Capacity

Core Viewpoint - Hyper Bit Technologies Ltd. has entered into a definitive agreement to acquire Dogecoin Mining Technologies Corp., enhancing its position in the cryptocurrency mining sector and aiming for long-term value creation and profitability [2][3][4]. Company Overview - Hyper Bit Technologies is a diversified technology company focused on crypto mining operations and blockchain innovations, aiming to unlock value in the digital asset ecosystem [14]. - Dogecoin Mining Technologies specializes in building scalable, high-performance cryptocurrency mining operations, particularly for Dogecoin and Litecoin [6]. Acquisition Details - The acquisition involves Hyper Bit acquiring 100% of the common shares of Dogecoin Mining Technologies, with a total consideration of 17,999,995 common shares issued at a deemed price of CAD $0.2625 per share, totaling approximately CAD $4.72 million [2][9]. - The transaction includes performance milestones that align the interests of Dogecoin shareholders with Hyper Bit's long-term growth objectives, with specific conditions for the release of shares [10][11]. Strategic Implications - The acquisition is seen as a pivotal milestone for Hyper Bit, positioning it as one of the first publicly traded companies focused on altcoin mining, with a strategy to consolidate the fragmented altcoin mining sector [3][5]. - Hyper Bit plans to leverage Dogecoin Mining Technologies' expertise and resources to enhance operational capacity and advance mining capabilities [5][8]. Operational Capacity - Dogecoin Mining Technologies has secured agreements for up to 2,660 ElphaPex DG1+ and DG2 miners, with access to a renewable power facility capable of 11 MW, and an anticipated power rate of under USD $0.07 per kilowatt-hour [7][8]. - The company is positioned to rapidly scale its mining operations, utilizing industry-leading hardware and low-cost sustainable energy [8].