Creek Road Miners DISRUPTING CRYPTO MINING BY TRANSPORTING
BITCOIN, NOT MOLECULES OR ELECTRONS
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CREEK ROAD MINERS

Summary

The bitcoin industry is at an inflection point:

  • Rising prices due to increase in adoption by the global economy.
  • Rising processing power and energy requirements to support Bitcoin mining.

Creek Road Miners management consists of a seasoned team of operating executives with:

  • Significant experience in crypto-currencies, NFTs, and tech leadership.
  • Strong relationships in the oil and gas industry.
  • Background in product management at scale, construction projects, operational management.

Creek Road Miners solution:

  • Develop and operate bitcoin mining “scaled-up” facilities using natural gas to power the operations.
  • Co-located at or near natural gas production sites, lowering the cost of the key energy input.
  • Each one-megawatt facility is expected to cost under $3 million to develop.
  • Scalability — expect that multiple facilities can be built at the same time.
  • First facility expected to be completed and fully operational by Sep 2021.
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CREEK ROAD MINERS

What is Crypto Currency and Crypto Mining?

Crypto currencies are digital currencies that typically do not exist in physical form and typically are not issued by a central authority

Ownership of the currencies and transactions are verified, and records maintained, by a decentralized system using cryptography rather than by a centralized authority

Bitcoin mining is the process by which new bitcoins are entered into circulation. It is performed using sophisticated computers with the capability to solve complex computational math problems

CREEK ROAD MINERS

Advantages of Bitcoin as a Digital Currency

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CREEK ROAD MINERS

Bitcoin Demand is Growing

  • Overwhelming percentage believe digital assets will become dominant over time
  • 63% of survey participants indicated they were in the process of developing a strategy to invest in or support digital assets
  • 28% said they already have a clear strategy

Source: www.globalcustodian.com June 4, 2021

Creek Road Miners

900 Bitcoin are Mined Per Day Worldwide

Electricity is the key input

Energy include cost, amount available for consumption, consistency

Specialized devices analyze problems to “mine” for bitcoin

Pooling process results in increased consistency of bitcoin generation

Produce bitcoin which can be sold or retained

900 new bitcoins can be mined each day across the world (144 blocks per day, 6.25 bitcoins per block)
CREEK ROAD MINERS

Bitcoin Mining

Computational and Energy Requirements are Increasing

150.5
Hash Rate
1,200
Megawats

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Increasing Global Criticism of Environmental Impact of Bitcoin Mining

“Cryptocurrency is a good idea on many levels and we believe it has a promising. future, but this cannot come at great cost to the environment”
Elon Musk, Tweet – May 12, 2021

“Bitcoin uses more electricity annually than the whole of Argentina, analysis by Cambridge University suggests.”
BBC News, February 10, 2021

“…a gas explosion and flood in a
coal mine in the Xinjiang region led the Chinese government to shut down all the neighboring cryptocurrency mining farms to conduct fire safety inspections…”
Goldman Sachs Research Letter, May 21, 2021

CREEK ROAD MINERS

Creed Road Miners Has the Solution!

Co-locate mining facilities near excess natural gas production

Significant, uninterrupted supply of natural gas.
Potential to purchase natural gas below wholesales price.

High efficiency, localized turbines generate electricity.
Scalable to meet exact needs.

Mine bitcoin at a COGS of $4,472 / coin, or 12.4% of current bitcoin price $36,000

Logistics Arbitrage
Easier to move a bitcoin than a molecule of gas.

Creek Road Miners Energy Concentration Risk Mitigation

Creek Road Miners mobile units can be spread across multiple geographical locations

Creek Road Miners can place all
one-megawatt units in one location…

Creek Road Miners can place one
one-megawatt unit in multiple locations…

And everything in between

CREEK ROAD MINERS

ESG Benefits of Creek Road Miners Approach

Use natural gas vs. coal. Locating near production reduces energy required to transport molecules and electrons to bitcoin miners
PHASE 1
Stranded Gas opportunities - locate mining facilities where gas is being flared or vented. Use renewable energy (wind, solar) when possible, supplemented by natural gas
PHASE 2
Carbon Capture. Integrate with recycling efforts, and use syngas (synthetic gas)
PHASE 3