Company: DEFI
Filing Date: 2025-03-17
Form Type: S-1/A
Source: 0001387131-25-000058
Chunk: 34

Company: Tidal Commodities Trust I
Filing Date: 2025-03-17
Form: S-1/A
Chunk 34
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 block is mined by a miner who does not require the payment of transaction fees or is       
 willing to accept a lower fee. Any widespread delays in the recording of transactions        
 could result in a loss of confidence in a digital asset network.                             |

| ● | Digital                                                                                         
 asset mining operations can consume significant amounts of electricity, which may have          
 a negative environmental impact and give rise to public opinion against allowing, or            
 government regulations restricting, the use of electricity for mining operations. Additionally, 
 miners may be forced to cease operations during an electricity shortage or power outage,        
 or if electricity prices increase where the mining activities are performed.                    |

| ● | Many                                                                                       
 digital asset networks, including the Bitcoin Network, face significant scaling challenges 
 and may periodically be upgraded with various features designed to increase the speed      
 and throughput of digital asset transactions. These attempts to increase the volume of     
 transactions may not be effective, and such upgrades may fail, resulting in potentially    
 irreparable damage to the Bitcoin Network and to the value of bitcoin.                     |

| ● | The                                                                                           
 open-source structure of many digital asset network protocols, such as the protocol for       
 the Bitcoin Network, means that developers and other contributors are generally not directly  
 compensated for their contributions in maintaining and developing such protocols. As          
 a result, the developers and other contributors of a particular digital asset may lack        
 a financial incentive to maintain or develop the network, or may lack the resources to        
 adequately address emerging issues. Alternatively, some developers may be funded by companies 
 whose interests are at odds with other participants in a particular digital asset network.    
 A failure to properly monitor and upgrade the protocol of the Bitcoin Network could damage    
 that network.                                                                                 |

| ● | Previously,                                                                                    
 flaws in the source code for digital assets have been exposed and exploited, including         
 flaws that disabled some functionality for users, exposed users’ personal information          
 and/or resulted in the theft of users’ digital assets. The cryptography underlying             
 bitcoin could prove to be flawed or ineffective, or developments in mathematics and/or         
 technology, including advances in digital computing, algebraic geometry and quantum computing, 
 could result in such cryptography becoming ineffective. In any of these circumstances,         
 a malicious actor may be able to compromise the security of the Bitcoin Network or take        
 the Fund’s bitcoin, which would adversely affect the value of the Shares. Moreover,            
 functionality of the Bitcoin Network may be negatively affected such that it is no longer      
 attractive to users, thereby dampening demand for bitcoin. Even if another digital asset