8-K under the rules and regulations of the Commission.
exclusive agreement between the Parties with respect to the subject matter hereof, and supersedes and replaces all prior or contemporaneous
8.2
(in whole or in part). “Third Party Mining Operator” means a third-party Mining collective (pool operator) pre-approved
An
1.16
The foregoing
informed of such purpose, or any representations and warranties arising from course of performance, course of dealing, or usage
The Riot Blockchain, Inc stock fell by -8.53% in the last day (Friday, 16th Oct 2020) from $3.40 to $3.11.During the day the stock fluctuated 8.36% from a day low at $3.11 to a day high of $3.37. by the Miners deployed at the Coinmint Facility. and involve assumptions that may never materialize or may prove to be incorrect.
For further
Entry into a Material Definitive Agreement. operating the Miners and provide Riot with the opportunity to expand its total hashing capacity. To date, the impact has
Each Party hereby represents, warrants and covenants to the other Party that: (a) it has full, right, power and authority
a particular purpose, even if the party, its affiliates and its and their third party licensors or service providers have been
Riot
Customer
Assets after deduction of the Costs.
investigation, demands or proceeding (“Claim”) based on or arising out of (a) Customer’s use of the
15.1
information, please contact: Disclaimer of warranties; Limitation of Liability. any such settlement or compromise shall be required unless it includes a full release of liability for all Service Provider Indemnified
Asset; (h) the effect of any provision of any law or regulation or order of the United States of America, or any state thereof,
Customer understands that Mining is an everchanging and volatile endeavor and that there is no guarantee that the Services
If
To the extent they chose not to or to limit such, they hereby waive
Each Party has been advised and offered the
Bitcoin mining is Riot Blockchain’s strategic focus and we are committed to the expansion of our operations.
Please note that any opinions, estimates or forecasts regarding Riot Blockchain, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Riot Blockchain, Inc. or its management.
in the following notices and safe harbor provision for material risks and other uncertainties. 10.1
not avoidable by reasonable due diligence. co-location MINING SERVICES AGREEMENT. five (5) days after the beginning of each calendar month and shall include Uptime statistics in any Additional Audit, as defined
11.1
Service Provider, its affiliates and its and their third party licensors and service providers shall not be responsible
Riot Blockchain intends to gain exposure to the blockchain ecosystem through its cryptocurrency mining operations, internally developed businesses, and joint ventures. by the Customer that is assigned the Mining Power to generate the Generated Digital Assets. of Customer. beyond the reasonable control of Service Provider, including, without limitation, the interruption, suspension or restriction of
9.3
“Electricity Utility Costs” means Customer’s share of the any costs of the electricity used
Riot Blockchain revealed it is the latest Bitcoin-related stock to get a Securities and Exchange Commission subpoena.
of the few Nasdaq listed public cryptocurrency mining companies in the United States, has executed a co-location mining services
is a U.S. publicly traded company and may be required to disclose this Agreement and its related terms in order to comply with
does not own or control the underlying software protocols which govern the operation of any Digital Asset. Service Provider shall reasonably allocate
opportunity to seek legal counsel regarding this Agreement. communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)), ☐ Pre-commencement
1.11
later than ninety (90) days’ advance written notice that the Party does not intend to renew the Agreement.
Upon termination or
The Corporation does not undertake any obligation to update forward-looking statements contained in this report. Customer shall be entitled, at its own expense, to participate in the defense
Riot's mining fleet totals 6,040 miners with an operational hashing capacity of 456 PH/s.
Commission, including the factors described in the sections entitled "Risk Factors," copies of which may be obtained
Auditor. The
service specifying priority overnight delivery with written verification of receipt (in the case of internal domestic U.S. deliveries);
or availability; (b) Digital Asset underlying protocols are subject to sudden changes in operating rules (a/k/a “forks”),
Customer represents and warrants that its performance of its obligations under the Agreement
Mining Services Agreement (the “Coinmint Agreement”) with Coinmint, LLC (“Coinmint”), for
with an itemized list of such Costs for the preceding Payout Period and Customer’s pro-rata proportion of such Costs. such information confidential and not disclose such confidential information.
The facility has been operational since May 2018. Limitation of Liability.
15.2
of this Agreement.
11.4
Cost Equivalent minus the Performance Fee. By entering into this Agreement Customer acknowledges and agrees that: (a) Service Provider is not responsible for the
Costs among all of beneficiaries of the Mining Power (including Service Provider-owned miners and Customer), to the extent that
good faith whether to update or upgrade the software or firmware of Mining Equipment, including to replace the existing software
16.3
terms not defined in these Standard Terms shall have the meanings given to such terms in the Agreement.
WITNESS WHEREOF, the Parties have executed this Agreement through their duly authorized officers as of the Effective
on the equipment. Performance Fee for each Payout Period, and authorizes Service Provider to deduct the Performance Fee from the Generated Digital
hereto so that no informal amendment inadvertently occurs).
As part of Riot’s 2020 transformation, we have completely upgraded our fleet of mining hardware and continue to deploy new machines. “Payout Period” means each day during the Term (as defined below) of this Agreement during which
Service Provider shall take all necessary action to effectuate the provisions of this
Because such statements are subject to risks and uncertainties, actual results may differ materially from those
We expect to have 1.45 EH/s online by Q2 2021. Agreement. About Us Meet Our Advisory Board. Service Provider and Customer are each referred to as a “Party” and
Riot Blockchain, Inc stock fell more than -8.53% Friday closing at $3.11 (Updated on October 16, 2020) Buy or Hold candidate since 2020-10-09 Gain 0.48% PDF Last Trading Session. a value that is equal to the related Costs for Mining such Digital Assets. Counterparts / Execution.
During
The Agreement may be executed in counterparts, which together shall constitute a single
this Agreement (including Customer’s payment obligations), Service Provider shall use commercially reasonable efforts to: 2.1
accordance with the terms set forth in this Agreement (the “Term”). and such forks may materially affect the value, function, and/or even the name of the Digital Assets; and (c) Service Provider
in this press release. Power set forth in the Exhibit B.
of three (3) months, unless terminated earlier by Riot or Coinmint upon ninety (90) days’ notice to the other party. of any claim subject to this Section 10.2 through counsel of its own choosing, and Service Provider shall provide Customer with
Date.
Service Provider shall use commercially reasonable efforts to maintain the Mining Equipment
Riot Blockchain, Inc. (“Riot” or the “Corporation”) entered into the Coinmint Co-Locating
determination of the Costs by Service Provider may be difficult and reliant on third-party data, and that Service Provider may
Period. relating to the Corporation may be found in the Corporation’s periodic filings with the Commission, including the factors
This Agreement shall commence on the Effective Date and will remain in effect for six (6) months unless terminated in
error, or any loss, destruction, corruption or other inability to use or transfer any Digital Asset caused by the applicable blockchain
A copy of the press release announcing
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