Risk Factors Update Summary

• Regained Nasdaq compliance after bid price closed below $1.00, affecting listing requirements. This could lead to delisting.
• Added disclosure about the ability to continue as a going concern, with a material environmental liability of $17.53 million as of December 31, 2023.
• Our ability to continue as a going concern is in doubt due to substantial operating losses.
• Issued additional 45,269 shares of Class A common stock in January 2024, totaling 549,285.
• Sale of South Carolina Facility for $28 million, extinguishing $17.7 million Senior Secured Loan and $4.1 million Secured Promissory Note.
• We may need to raise additional capital to grow our business and expand operations.
• Entered into Equity Exchange Agreement issuing 180,000 shares of Class A common stock.
• Increase in mining capacity from 42,000 miners with 4 EH/s to 28,800 miners with 3.0 EH/s.
• Acquiring a parcel of land in Columbus, Mississippi, will provide 32.5 MW in mining capacity.
• Transition from owning 10,000 miners with 1.1 EH/s to evaluating options for installation.
• Significant turnover in senior management may create instability and hinder operations.
• Entered into Securities Purchase Agreement issuing 450,300 shares of Class A common stock.
• Failure to integrate acquired businesses could negatively impact financial condition and results.
• Increased voting power concentration with Atlas holding 79% of voting power.
• Entry into hosting agreements with NYDIG affiliates for a term of five years.
• Limited sources of revenue and net losses in 2023 and 2022 may hinder profitability.
• Issued equity compensation under the Equity Incentive Plan and inducement grants.
• Sale of Support.com segment assets and discontinuation of operations, with net proceeds of approximately $0.8 million.
• Changes in financial accounting standards for digital assets could impact financial statements.
• Uncertain ability to repay $72.2 million Senior Notes due in 2026, facing additional risks.
• Increase in workforce from 347 employees to 40 employees as of December 31, 2023.