Company: GEDC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023834
Chunk: 64

Company: CalEthos, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 64
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 of our site and
allowed us to proceed with our planned geothermal powered data center development. Due to this change and the uncertainty of when the
Lithium Valley Specific Plan will be approved, we did not renew our purchase option on the 315-acre site in July 2025. However, we are
still committed to executing a plan to build a geothermal-powered data center in Lithium Valley once the County approves the Lithium Valley
Specific Plan and we can contract new parcels zoned for data center development.

In
May 2025, we established TerraVolt Infrastructure, Inc. (TerraVolt) as a wholly owned subsidiary that will develop similar
clean energy-powered data center developments in other states with known favorable zoning for onsite power and geothermal
resources.

TerraVolt’s
solution is an innovative Infrastructure-as-a-Service (IaaS) platform (“IaaS Platform’) that will integrate a portfolio
of grid and behind-the-meter power with, construction-ready data center building sites that will
include utilities and fiber connectivity. TerraVolt plans to provide its IaaS Platform as a turnkey solution to hyperscalers,
colocation providers, and data center developers seeking to deploy new capacity faster than with traditional power
generation and transmission.

We
believe TerraVolt’s IaaS Platform will address energy challenges for the data center industry. With AI, cloud computing, and
high-performance computing driving exponential growth in electricity consumption, the demand for sustainable, clean energy-powered
infrastructure has become critical:

    ●
    The
    U.S. data center industry currently consumes 4% of all electricity produced and is projected to consume as much as 10% within the
    next five years.

    ●
    Grid-served
    power is becoming less predictable in both cost and availability, and the data center industry is seeking alternative power solutions
    that accelerate deployment timelines while meeting the critical demands for reliability, sustainability, and cost-effectiveness.

    ●
    Hyperscale,
    colocation providers, and data center developers are looking beyond traditional generation and transmission to solutions that offer
    better time-to-power and cleaner energy that helps them deliver capacity faster and achieve their carbon-neutral goals.

    ●
    Critically,
    we estimate, that less than 5% of existing data centers are powered “directly”
with clean energy.

TerraVolt
has recently assembled a team of land use and geothermal experts that are currently evaluating a number of locations with favorable geothermal
resources and welcoming