Company: DEFI
Filing Date: 2025-03-17
Form Type: S-1/A
Source: 0001387131-25-000058
Chunk: 33

Company: Tidal Commodities Trust I
Filing Date: 2025-03-17
Form: S-1/A
Chunk 33
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 key is lost, stolen, destroyed or otherwise compromised 
 and no backup of the private key is accessible, the owner would be unable to access the         
 digital asset corresponding to that private key and the private key will not be capable         
 of being restored by the digital asset network resulting in the total loss of the value         
 of the digital asset linked to the private key.                                                 |

| ● | Digital                                                                                   
 asset networks are dependent upon the internet. A disruption of the internet or a digital 
 asset network, such as the Bitcoin Network, would affect the ability to transfer digital  
 assets, including bitcoin, and, consequently, would impact their value.                   |

| ● | The                                                                                           
 acceptance of software patches or upgrades by a significant, but not overwhelming, percentage 
 of the users and miners in a digital asset network, such as the Bitcoin Network, could        
 result in a “fork” in such network’s blockchain, including the Bitcoin                        
 Blockchain, resulting in the operation of multiple separate networks.                         |

| ● | Governance                                                                                
 of the Bitcoin Network is by voluntary consensus and open competition. As a result, there 
 may be a lack of consensus or clarity on the governance of the Bitcoin Network, which     
 may stymie the Bitcoin Network’s utility and ability to grow and face challenges.         
 In particular, it may be difficult to find solutions or martial sufficient effort to      
 overcome any future problems on the Bitcoin Network, especially long-term problems.       |

| ● | Over                                                                                        
 the past decade, bitcoin mining operations have evolved from individual users mining        
 with computer processors, graphics processing units and first-generation application        
 specific integrated circuit machines to “professionalized” mining operations                
 using proprietary hardware or sophisticated machines. If the profit margins of bitcoin      
 mining operations are not sufficiently high, including due to an increase in electricity    
 costs or a decline in the market price of bitcoin, or if bitcoin mining operations are      
 unable to arrange alternative sources of financing (e.g., if lenders refuse to              
 make loans to such miners), bitcoin miners are more likely to immediately sell more bitcoin 
 than they otherwise would, resulting in an increase in liquid supply of bitcoin, which      
 would generally tend to reduce bitcoin’s market price.                                      |

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| ● | To                                                                                           
 the extent that any miners cease to record transactions that do not include the payment      
 of a transaction fee in solved blocks or do not record a transaction because the transaction 
 fee is too low, such transactions will not be recorded on the Bitcoin Blockchain until       
 a