Exhibit
10.1


 


Amended
Line of Credit Agreement


 


This AMENDED LINE OF CREDIT
AGREEMENT is entered into on this 29th day of September, 2021, by and between Innovative Digital Investors, LLC. a limited liability
company, whose address is 1240 Rosecrans Avenue, Suite # 120, Manhattan Beach, CA. 90266 (“Creditor” or “IDI”)
and BitMine ImmersionTechnologies, Inc., a Delaware Corporation, whose principal address is 2030 Powers Ferry Road SE, Suite # 212, Atlanta,
GA. 30339, (the “Company” or “BitMine”), collectively referred to as the “Parties;”;
and amend and replace the Line of Credit agreement dated August 3, 2021.


 


WHEREAS, BITMINE is
a corporation with limited resources and from time to time may be in need of capital in order to advance the development of its operations’
specifically equipment related to Cryptocurrency Mining and Infrastructure.


 


WHEREAS, Qualified
Assets will include any Mining Computers selected by the Company, and any equipment used to house these machines. All Qualified Assets
shall be approved by IDI in advance of purchase by the Company.


 


WHEREAS, currently
approved equipment are mining computers manufactured by known manufacturers, and Immersion Cooling "Cryptopods" and Containers
modified to hold Cryptocurrency mining machines. New equipment can be submitted for approval by the company to Jonathan Bates at IDI.
All disbursements will be specifically approved by IDI, and all requests for disbursements will come directly from BitMine Immersion Technologies
in a written and signed format, with details specified. All disbursements will be made directly from IDI to the manufacturer or reseller
of equipment, and the principal amount added to the existing balance of the note.


 


WHEREAS, BITMINE is
in need of borrowing funds, and IDI is willing to advance funds to BITMINE for the purposes stated above.


 


WHEREAS, IDI has agreed
to advance funds for use in the purposes described above.


 


WHEREAS, IDI and BITMINE
are desiring to enter into this Line of Credit Agreement for the purposes of advancing the development of BitMine’s business plan
as stated above.


 


NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the parties hereto, the parties
hereby agree that he debt between both parties is hereby revised and restated as follows:


 


		1.	Amount of Line of Credit: The amount of the of the Line of Credit shall now be Two Million Five
Hundred Thousand Dollars ($2,500,000), which IDI shall provide to BitMine as follows:



 


 





	       JB       	        ESN       
	(initials)	(initials)


 


 






    	 	1	 



     


    

 


 


		A.	Upon receiving a written request from the Company along with the appropriate purchase or expense documentation,
IDI shall transfer the approved funds to the Company’s bank account.



 


		B.	Borrow Period:  The availability of funds shall be from a period commencing with the signing of
the original line of credit agreement on July 22, 2021 and continuing through December 31, 2021.



 


		C.	Senior Debt Status: This debt shall be senior to all other company debt.



 


		2.	Interest Rate: The Advanced Funds shall incur interest at the rate of Fifteen Percent (15%) per
annum, compounded on a 30/360 monthly basis until the Advanced Funds have been repaid in full.



 


		3.	Type and Place of Payment: 



 


		A.	The amount due IDI, including principal and interest shall be due and payable on April 1, 2022.



 


		B.	Prepayment:  Advance payment or payments may be made on any amounts due under this Note without
penalty or forfeiture. There shall be no penalty for any prepayment.



 


		4.	Collateral: All machinery financed will serve as collateral for the loan, along with any other
company assets or cash balances.



 


		5.	Acceleration Upon Occurrence of Specified Events. Upon the occurrence or during the continuance
of any one or more of the events hereinafter enumerated, Holder or any of its assigns may forthwith or at any time thereafter or during
the continuance of any such event, by notice in writing to the Maker, declare the outstanding balance be immediately due and payable without
presentation, demand, protest, notice of protest, or other notice of dishonor, all of which are hereby expressly waived by Maker:



 


		A.	Maker shall file a voluntary petition in bankruptcy or a voluntary petition seeking reorganization, or
shall file an answer admitting the jurisdiction of the court and any material allegations of an involuntary petition filed pursuant to
any act of Congress relating to bankruptcy or to any act purporting to be amendatory thereof, or shall be adjudicated bankrupt, or shall
make an assignment for the benefit of creditors, or shall apply for or consent to the appointment of any receiver or trustee for Maker,
or of all or any substantial portion of its property, or Maker shall make an assignment to an agent authorized to liquidate any substantial
part of its assets; or



 


 


 


	       JB       	        ESN       
	(initials)	(initials)





 






    	 	2	 



     


    

 


 


		B.	An order shall be entered pursuant to any act of Congress relating to bankruptcy or to any act purporting
to be amendatory thereof approving an involuntary petition seeking reorganization of the Maker, or an order of any court shall be entered
appointing any receiver or trustee of or for Maker, or any receiver of trustee of all or any substantial portion of the property of Maker,
or a writ or warrant of attachment or any similar process shall be issued by any court against all or any substantial portion of the property
of Maker, and such order approving a petition seeking reorganization or appointing a receiver or trustee is not vacated or stayed, or
such writ, warrant of attachment or similar process is not released or bonded within 60 days after its entry or levy.



 


		C.	In the event of 15 days past due or any other default, IDI will be able to call in the loan in its entirety.
If the company is unable to make payment, IDI will have the right to:



 


		i.	Take ownership of the equipment, and choose to continue mining at the current site, move the equipment
elsewhere, or sell the equipment to pay the balance due.



 


		6.	Assignability: The rights or obligations under this Note may not be assigned and/or delegated by
Maker without the express written consent of the other party. Holder may assign his rights without restriction.



 


		7.	Representations and Warranties of Debtor: the Debtor represents and warrants as follows:



 


		A.	The Debtor is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware. The Debtor has the corporate power to own its properties and to carry on its business as now being conducted.



 


		B.	The Debtor has all requisite corporate power and authority to enter into this Agreement and to consummate
the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions contemplated
hereby have been duly authorized by all necessary corporate action on the part of the Debtor. The Debtor’s Board of Directors has
approved this Agreement and the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Debtor and
constitutes a valid and binding obligation of the Debtor, enforceable in accordance with its terms, except (a) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights
generally and (b) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.



 


		C.	This Agreement is the legal, valid and binding obligation of the Debtor, except as limited by applicable
bankruptcy, insolvency, and other similar laws affecting creditors’ rights generally.



 


 





	       JB       	        ESN       
	(initials)	(initials)


 


 






    	 	3	 



     


    

 


 


		8.	Representations and Warranties of Creditor: The Creditor represents and warrants as follows:



 


		A.	That the Creditor has knowledge and experience in financial and business matters and that he understands
that the merits and risks associated with the execution of this Agreement.



		9.	Events of Default: 



 


		A.	In the “Event of Default” as that term is described in 9(B), the total amount under
due under this Agreement shall become immediately due and payable.



 


		B.	The term, “Event of Default” shall constitute the following scenarios;



 


		i.	The Company is unable to make any of the payments specified in paragraph 3(A).



 


		ii.	If the Debtor shall make an assignment for the benefit of creditors or shall admit in writing its inability
to pay its debts as they become due; or



 


		iii.	If the Debtor shall file a voluntary petition in bankruptcy, or shall be the subject of an involuntary
bankruptcy petition, or adjudicated bankrupt or insolvent, or shall file any petition or answer seeking any reorganization arrangement,
composition, readjustment, liquidation, dissolution, or similar relief under the present or any future Federal Bankruptcy Code or other
applicable federal, state or similar statute, law or regulation, or shall seek or consent to or acquiesce in the appointment of any trustee,
receiver or liquidator of the Debtor or of all or any substantial part of its assets.



 


		C.	Notice of Default:  In the event of an action triggering an Event of Default, the Creditor shall
promptly notify the Company by USPS Certified Mail of the Event of Default. The Company shall have ten (10) days from the mailing of the
Event of Default notice to cure the Event of Default by making the specified payment(s).



 


 





	       JB       	        ESN       
	(initials)	(initials)


 


 






    	 	4	 



     


    

 


 


		10.	Notices: All notices, requests or instructions hereunder shall be in writing and delivered personally
or sent by FedEx mail or similar overnight delivery, postage prepaid, as follows:



 


	If to IDI	
    If to BITMINE

     

	
    Innovative Digital Investors, LLC.

    Att.: Jonathan Bates

    1240 Rosecrans Avenue

    Suite # 120

    Manhattan Beach, CA. 90266
	
    BitMine Holdings, Inc.

    Att.: Erik Nelson, President

    2030 Powers Ferry Road SE

    Suite # 212

    Atlanta, GA. 30339



 


		11.	Governing Law and Venue: The terms and provisions of this letter are solely for the benefit of
the BitMine and IDI and their respective successors, assigns, heirs and personal representatives, and no other person shall acquire or
have any right by virtue of this letter. IDI and the Company agree that any dispute concerning the interpretation, validity, or enforceability
of this agreement, and any action arising from any alleged breach hereof, shall be adjudicated exclusively in State or Superior Court
for the county in which IDI's principal executive office shall be located at the time of institution of such action, or in the applicable
district and division of the U.S. District Court having venue for disputes in that same county. In the event of any litigation arising
from or related to this Agreement, or the services provided under this Agreement, the prevailing party shall be entitled to recover from
the non-prevailing party all reasonable costs incurred including staff time, court costs, attorney’s fees, and all other related
expenses incurred in such litigation. In the event of a no-adjudicative settlement of litigation between the parties or a resolution of
a dispute by arbitration, the term “prevailing party” shall be determined by that process.



 


		12.	Entire Agreement:  This Agreement, including all exhibits and schedules attached thereto, executed
on even date herewith, constitutes the full and entire understanding and agreement between the parties with regard to the Debt, and no
party shall be liable or bound to any other party in any manner by any representations, warranties, covenants and agreements.



 


		13.	Severability: The invalidity or unforceability of any provision of this letter shall not affect
the validity or enforceability of any other provisions of this letter, which shall remain in full force and effect.



 


		14.	Counterparts/Electronic Signatures: This Agreement may be executed in counterparts, all of which
together shall constitute one agreement binding on all the parties hereto, not withstanding that all such parties are not signatories
to the original or the same counterpart. Facsimile or electronically transmitted signatures shall be deemed effective as originals.



 


 


 





	       JB       	        ESN       
	(initials)	(initials)


 






    	 	5	 



     


    

 


 


		15.	Authority/Capacities/Entities: Each person signing this Agreement represents and warrants that
he or she has complete authority and legal capacity to enter into this Agreement on behalf of the entity for which he or she is signing,
and agrees to defend, indemnify, and hold harmless all other parties if that authority or capacity is challenged.



 


		16.	Knowing and Voluntary Agreement: The Parties represent they have read this Agreement, understand
it, voluntarily agree to its terms, and sign it freely.



 


IN WITNESS WHEREOF,
the parties hereto have executed this Agreement on the date first above written.


 


	
    Agreed to and Accepted

    this 29th day of September, 2021

     

    /s/ Jonathan Bates

     

    Jonathan Bates

    Managing Member

    Innovative Digital Investors, LLC.
	
    Agreed to and Accepted

    this 29th day of September, 2021

     

    /s/ Erik Nelson

     

    Erik Nelson,

    President

    BitMine Immersion Technologies, Inc.



 


 


 


 


 


	       JB       	        ESN       
	(initials)	(initials)






 


 


 


 






    	 	6