CryptoBlox to Acquire Digital Mining Infrastructure Company

CryptoTherm designs, manufactures and sells one of the world’s most advanced crypto mining
systems based on immersion cooling and thermal heat exchange technology

Vancouver, B.C, January 20, 2023 – CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE:
BLOX) is pleased to announce that it has entered into an arm’s length definitive share purchase agreement
(the “Agreement”), dated January 17, 2023, with CryptoTherm (defined herein) and 1289048 B.C. Ltd.
(the “Vendor”) to acquire (the “Acquisition”) from the Vendor 100% of the outstanding shares of
CryptoTherm Manufacturing Inc. (“CryptoTherm”).
About CryptoTherm
CryptoTherm specializes in designing and building liquid-cooled data centers and advanced heat recapture
products. These data centers are specifically designed for cryptocurrency mining, allowing for maximum
efficiency and cost-effectiveness.
CryptoTherm’s advanced heat recapture products are innovative solutions that capture and reuse the
heat generated during the mining process. This helps to reduce energy costs and minimize the
environmental impact of mining operations.
CryptoTherm’s team has a deep understanding of the challenges and opportunities in the digital currency
industry and is dedicated to helping its customers succeed. In this, CryptoTherm’s products and services
are designed to minimize clients’ start-up costs, downtime and operational expenses.
Integration into CryptoBlox
The Company will use CryptoTherm’s industry leading immersion cooling and thermal heat exchange
technology as it grows its digital currency blockchain division. The Company will also allocate resources
to grow CryptoTherm’s business of selling immersion pods, ASIC miners, cryptovaults and cooling
immersion fluids.
This strategic acquisition is a continuation of the Company’s focus on its digital currency division and
follows other strategic investments such as the Company’s investment in Optimal CP, Inc. The Company’s
goal is to become a significant player in the digital currency space and further solidify its position in the
“I am thrilled with this agreement with CryptoBlox,” stated Austin Bank, CEO of CryptoTherm. “This
acquisition will allow us to join forces and leverage our complementary strengths to achieve even greater
success. I am confident that together, we will be able to explore new opportunities and unlock the full
potential of our combined expertise and resources. I am excited for the future possibilities that this
acquisition brings and look forward to working with the talented team at CryptoBlox to drive innovation
and growth in the digital currency industry,” added Mr. Bank.
The Acquisition will involve the issuance of 400 million common shares of the Company (the
“Consideration Shares”) at a deemed price of $0.05 per common share to the Vendor in exchange for all
of the outstanding common shares of CryptoTherm, for a deemed transaction value of $20,000,000. 320
million of the Consideration Shares will be subject to restrictions (the “Restrictions”) on trading expiring
as follows: 10% 12 months from closing; 10% 24 months from closing; 20% 36 months from closing; 20%
48 months from closing; and 40% 60 months from closing. The Consideration Shares will be issued
pursuant to s. 2.16 (take-over bid and issuer bid) of National Instrument 45-106 Prospectus Exemptions.
The Company does not consider that the Acquisition will be considered a Fundamental Change of the
Company (as defined in Policy 8 Fundamental Changes & Changes of Business of the Canadian Securities
Exchange (the “CSE”)). Upon completion of the Acquisition, the principal of the Vendor is expected to
become a reporting insider (as defined in National Instrument 55-104 Insider Reporting Requirements and
Exemptions) of the Company.
“This is one of our most exciting investments and our most strategic acquisition to date,” stated Bryson
Goodwin, CEO of CryptoBlox.
“We highlight the following:

  • given CryptoTherm is an operating business, the Acquisition is expected to immediately add
    revenue to CryptoBlox;
  • the deemed share value of $0.05 highlights CryptoTherm’s confidence in the fundamental value of
  • CryptoTherm’s immersion cooling technology will strengthen our intellectual property position
    within the digital currency market; and
  • the conservative and long-term Restrictions reflect the intention of CryptoTherm’s team, who will
    become significant shareholders of CryptoBlox, to build long-term value at CryptoBlox.
    We believe the Acquisition will allow us to significantly grow our digital currency blockchain division and
    unlock the incredible value of CryptoTherm,” concluded Mr. Goodwin.
    Completion of the Acquisition is subject to customary conditions precedent, including completion of a
    formal valuation respecting CryptoTherm, board approvals and approval of the CSE.
    On behalf of the Company,
    Bryson Goodwin,
    Chief Executive Officer
    Contact Numbers and Emails
    For further information about the Company, please visit
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