Document:

Exhibit 4.3

 

 

WARRANT AGENT AGREEMENT

 

 

WARRANT AGENT AGREEMENT,
dated as of July 18th, 2021 (“Agreement”), between BitMine Immersion Technologies, Inc., f/k/a Sandy Springs Holdings, Inc.
a corporation organized under the laws of the State of Delaware (the “Company”), and West Coast Stock Transfer, Inc.
(the “Warrant Agent”), with respect to the Class A Warrants and the Class B Warrants to be issued by the Company (collectively,
the “Warrants”).

 

W I T N E S S E T H

 

WHEREAS, the Company
wishes to issue the Warrants in book entry form entitling the respective holders of the Warrants (the “Holders,” which term
shall include a Holder’s transferees, successors and assigns and “Holder” shall include, if the Warrants are held in
“street name,” a Participant (as defined below) or a designee appointed by such Participant); and

 

WHEREAS, the Company
wishes the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection with the issuance,
registration, transfer, exchange, exercise and replacement of the Warrants and, in the Warrant Agent’s capacity as the Company’s
transfer agent, the delivery of the Warrant Shares (as defined below).

 

NOW, THEREFORE, in
consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

Section 1. Certain Definitions.
For purposes of this Agreement, all capitalized terms not herein defined shall have the meanings hereby indicated:

 

(a)        “Affiliate”
has the meaning ascribed to it in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

(b)        “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or
required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required
by law to remain closed due to "stay at home," "shelter-in-place," "non-essential employee" or any other
similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long
as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are open
for use by customers on such day.

 

c)        “Close
of Business” on any given date means 5:00 p.m., New York City time, on such date; provided, however, that if such date is not a
Business Day it means 5:00 p.m., New York City time, on the next succeeding Business Day.

 

(d)        “Person”
means an individual, corporation, association, partnership, limited liability company, joint venture, trust, unincorporated organization,
government or political subdivision thereof or governmental agency or other entity.

 

(e)        “Warrant
Certificate” means a certificate in substantially the form attached as Exhibit 1 hereto with respect to the Class A Warrants and
Exhibit 2 with respect to the Class B Warrants, representing such number of Warrant Shares as is indicated therein, provided that any
reference to the delivery of a Warrant Certificate in this Agreement shall include delivery of a Definitive Certificate or a Global Warrant
(each as defined below).

 

All other capitalized terms used but not otherwise
defined herein shall have the meaning ascribed to such terms in the Warrant Certificate.

 

Section 2. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the terms and conditions
hereof, and the Warrant Agent hereby accepts such appointment.

 

 

 

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Section 3. Global Warrants.

 

(a)        The
Warrants shall be registered securities and shall be evidenced by a global warrant (the “Global Warrants”), in the form of
the Warrant Certificate, which shall be deposited with the Warrant Agent and registered in the name of Cede & Co., a nominee of The
Depository Trust Company (the “Depositary”), or as otherwise directed by the Depositary. Ownership of beneficial interests
in the Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary
or its nominee for each Global Warrant or (ii) institutions that have accounts with the Depositary (such institution, with respect to
a Warrant in its account, a “Participant”).

 

(b)        If
the Depositary subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant
Agent regarding other arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer
necessary to have the Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to
deliver to the Warrant Agent for cancellation each Global Warrant, and the Company shall instruct the Warrant Agent to deliver to each
Holder a Warrant Certificate.

 

(c)        A
Holder has the right to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate
Request Notice (as defined below). Upon written notice by a Holder to the Company and the Warrant Agent for the exchange of some or all
of such Holder’s Global Warrants for a separate certificate in the form attached hereto as Exhibit 1 or 2, as applicable (such separate
certificate, a “Definitive Certificate”) evidencing the same number of Warrants, which request shall be in the form attached
hereto as Exhibit 3 (a “Warrant Certificate Request Notice” and the date of delivery of such Warrant Certificate Request Notice
by the Holder, the “Warrant Certificate Request Notice Date” and the surrender by the Holder to the Warrant Agent of a number
of Global Warrants for the same number of Warrants evidenced by a Warrant Certificate, a “Warrant Exchange”), the Company
and the Warrant Agent shall promptly effect the Warrant Exchange and the Company shall promptly issue and deliver to the Holder a Definitive
Certificate for such number of Warrants in the name set forth in the Warrant Certificate Request Notice. Such Definitive Certificate shall
be dated the original issue date of the Warrants, shall be executed either manually or by facsimile signature by an authorized signatory
of the Company, shall be in the form attached hereto as Exhibit 1 or 2, as applicable, and shall be reasonably acceptable in all respects
to such Holder. In connection with a Warrant Exchange, the Company agrees to deliver the Definitive Certificate to the Holder within ten
(10) Business Days of the Warrant Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate Request
Notice (“Warrant Certificate Delivery Date”). If the Company fails for any reason to deliver to the Holder the Definitive
Certificate subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall pay to the Holder,
in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Definitive Certificate (based
on the VWAP (as defined in the Warrants) of the Common Stock on the Warrant Certificate Request Notice Date), $10 per Business Day for
each Business Day after such Warrant Certificate Delivery Date until such Definitive Certificate is delivered or, prior to delivery of
such Warrant Certificate, the Holder rescinds such Warrant Exchange. The Company covenants and agrees that, upon the date of delivery
of the Warrant Certificate Request Notice, the Holder shall be deemed to be the holder of the Definitive Certificate and, notwithstanding
anything to the contrary set forth herein, the Definitive Certificate shall be deemed for all purposes to contain all of the terms and
conditions of the Warrants evidenced by such Warrant Certificate and the terms of this Agreement, other than Sections 3(c), 3(d) and 9
herein, shall not apply to the Warrants evidenced by the Definitive Certificate. Notwithstanding anything herein to the contrary, the
Company shall act as warrant agent with respect to any Definitive Certificate requested and issued pursuant to this section. Notwithstanding
anything to the contrary contained in this Agreement, in the event of inconsistency between any provision in this Agreement and any provision
in a Definitive Certificate, as it may from time to time be amended, the terms of such Definitive Certificate shall control.

 

(d)        A
Holder of a Definitive Certificate (pursuant to a Warrant Exchange or otherwise) has the right to elect at any time or from time to time
a Global Warrants Exchange (as defined below) pursuant to a Global Warrants Request Notice (as defined below). Upon written notice by
a Holder to the Company for the exchange of some or all of such Holder’s Warrants evidenced by a Definitive Certificate for a beneficial
interest in Global Warrants held in book-entry form through the Depositary evidencing the same number of Warrants, which request shall
be in the form attached hereto as Exhibit 4 (a “Global Warrants Request Notice” and the date of delivery of such Global Warrants
Request Notice by the Holder, the “Global Warrants Request Notice Date” and the surrender upon delivery by the Holder of the
Warrants evidenced by Definitive Certificates for the same number of Warrants evidenced by a beneficial interest in Global Warrants held
in book-entry form through the Depositary, a “Global Warrants Exchange”), the Company shall promptly effect the Global Warrants
Exchange and shall promptly direct the Warrant Agent to issue and deliver to the Holder Global Warrants for such number of Warrants in
the Global Warrants Request Notice, which beneficial interest in such Global Warrants shall be delivered by the Depositary’s Deposit
or Withdrawal at Custodian system to the Holder pursuant to the instructions in the Global Warrants Request Notice. In connection with
a Global Warrants Exchange, the Company shall direct the Warrant Agent to deliver the beneficial interest in such Global Warrants to the
Holder within ten (10) Business Days of the Global Warrants Request Notice pursuant to the delivery instructions in the Global Warrant
Request Notice (“Global Warrants Delivery Date”). If the Company fails for any reason to deliver to the Holder Global Warrants
subject to the Global Warrants Request Notice by the Global Warrants Delivery Date, the Company shall pay to the Holder, in cash, as liquidated
damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Global Warrants (based on the VWAP (as defined in the
Warrants) of the Common Stock on the Global Warrants Request Notice Date), $10 per Business Day for each Business Day after such Global
Warrants Delivery Date until such Global Warrants are delivered or, prior to delivery of such Global Warrants, the Holder rescinds such
Global Warrants Exchange. The Company covenants and agrees that, upon the date of delivery of the Global Warrants Request Notice, the
Holder shall be deemed to be the beneficial holder of such Global Warrants.

 

 

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Section 4. Form of Warrant
Certificates. The Warrant Certificate, together with the form of election to purchase Common Stock (“Notice of Exercise”)
and the form of assignment to be printed on the reverse thereof, shall be in the form of Exhibit 1 or 2 hereto, as applicable.

 

Section 5. Countersignature
and Registration. The Global Warrant shall be executed on behalf of the Company by its Chief Executive Officer or Chief Financial
Officer by facsimile signature, and have affixed thereto the Company’s seal or a facsimile thereof which shall be attested by the
Secretary or an Assistant Secretary of the Company, by facsimile signature. The Global Warrant shall be countersigned by the Warrant Agent
by facsimile signature and shall not be valid for any purpose unless so countersigned. In case any officer of the Company who shall have
signed any of the Global Warrant shall cease to be such officer of the Company before countersignature by the Warrant Agent and issuance
and delivery by the Company, such Global Warrant, nevertheless, may be countersigned by the Warrant Agent, issued and delivered with the
same force and effect as though the person who signed such Global Warrant had not ceased to be such officer of the Company; and any Global
Warrant may be signed on behalf of the Company by any person who, at the actual date of the execution of such Global Warrant, shall be
a proper officer of the Company to sign such Global Warrant, although at the date of the execution of this Warrant Agreement any such
person was not such an officer.

 

The Warrant Agent will keep or cause to be kept,
at one of its offices, or at the office of one of its agents, books for registration and transfer of the Global Warrants and Definitive
Warrants issued hereunder. Such books shall show the names and addresses of the respective Holders of the Global Warrant and Definitive
Warrants, the number of warrants evidenced on the face of each of such Global Warrant and Definitive Warrant and the date of each of such
Global Warrant and Definitive Warrant. The Warrant Agent will create a special account for the issuance of Global Warrants and Definitive
Warrants.

 

Section 6. Transfer, Split
Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates. With respect to the
Global Warrant, subject to the provisions of the Warrant Certificate and the last sentence of this first paragraph of Section 6 and subject
to applicable law, rules or regulations, or any “stop transfer” instructions the Company may give to the Warrant Agent, at
any time after the closing date of the Offering, and at or prior to the Close of Business on the Termination Date (as such term is defined
in the Warrant Certificate), any Global Warrant or Global Warrants may be transferred, split up, combined or exchanged for another Global
Warrant or Global Warrants, entitling the Holder to purchase a like number of shares of Common Stock as the Global Warrant or Global Warrants
surrendered then entitled such Holder to purchase. Any Holder desiring to transfer, split up, combine or exchange any Global Warrant shall
make such request in writing delivered to the Warrant Agent, and shall surrender the Global Warrant to be transferred, split up, combined
or exchanged at the principal office of the Warrant Agent. Any requested transfer of Warrants, whether in book-entry form or certificate
form, shall be accompanied by reasonable evidence of authority of the party making such request that may be required by the Warrant Agent.
Thereupon the Warrant Agent shall, subject to the last sentence of this first paragraph of Section 6, countersign and deliver to the Person
entitled thereto a Global Warrant or Global Warrants, as the case may be, as so requested. The Company may require payment from the Holder
of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination
or exchange of Global Warrants. The Company shall compensate the Warrant Agent per the fee schedule mutually agreed upon by the parties
hereto and provided separately on the date hereof.

 

Upon receipt by the Warrant Agent of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of a Warrant Certificate, which evidence shall include an
affidavit of loss, or in the case of mutilated certificates, the certificate or portion thereof remaining, and, in case of loss, theft
or destruction, of indemnity in customary form and amount (but, with respect to any Definitive Certificates, shall not include the posting
of any bond by the Holder), and satisfaction of any other reasonable requirements established by Section 104.8405 of the Uniform Commercial
Code as in effect in the State of Delaware, and reimbursement to the Company and the Warrant Agent of all reasonable expenses incidental
thereto, and upon surrender to the Warrant Agent and cancellation of the Warrant Certificate if mutilated, the Company will make and deliver
a new Warrant Certificate of like tenor to the Warrant Agent for delivery to the Holder in lieu of the Warrant Certificate so lost, stolen,
destroyed or mutilated.

 

 

 

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Section 7. Exercise of
Warrants; Exercise Price; Termination Date.

 

(a)        The
Warrants shall be exercisable commencing on the date of issuance of each Warrant unless otherwise specified therein (the “Initial
Exercise Date”). The Warrants shall cease to be exercisable and shall terminate and become void as set forth in the Warrant Certificate.
Subject to the foregoing and to Section 7(b) below, the Holder of a Warrant may exercise the Warrant in whole or in part upon surrender
of the Warrant Certificate, if required, with the executed Notice of Exercise and payment of the Exercise Price (as defined in the Warrant
Certificate), which may be made, at the option of the Holder, by wire transfer or by certified or official bank check in United States
dollars, to the Warrant Agent at the principal office of the Warrant Agent or to the office of one of its agents as may be designated
by the Warrant Agent from time to time. In the case of the Holder of a Global Warrant, the Holder shall deliver the executed Notice of
Exercise and the payment of the Exercise Price as described herein. Notwithstanding any other provision in this Agreement, a holder whose
interest in a Global Warrant is a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established
clearing corporation performing similar functions), shall effect exercises by delivering to the Depositary (or such other clearing corporation,
as applicable) the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by the
Depositary (or such other clearing corporation, as applicable). The Company acknowledges that the bank accounts maintained by the Warrant
Agent in connection with the services provided under this Agreement will be in its name and that the Warrant Agent may receive investment
earnings in connection with the investment at Warrant Agent risk and for its benefit of funds held in those accounts from time to time.
Neither the Company nor the Holders will receive interest on any deposits or Exercise Price. No ink-original Notice of Exercise shall
be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. The
Company hereby acknowledges and agrees that, with respect to a holder whose interest in a Global Warrant is a beneficial interest in a
Global Warrant held in book-entry form through the Depositary (or another established clearing corporation performing similar functions),
upon delivery of irrevocable instructions to such holder’s Participant to exercise such warrants, that solely for purposes of Regulation
SHO that such holder shall be deemed to have exercised such warrants.

 

(b)        Upon
receipt of a Notice of Exercise for a Cashless Exercise the Company will promptly calculate and transmit to the Warrant Agent the number
of Warrant Shares issuable in connection with such Cashless Exercise and deliver a copy of the Notice of Exercise to the Warrant Agent,
which shall issue such number of Warrant Shares in connection with such Cashless Exercise.

 

(c)        Upon
the exercise of the Warrant Certificate pursuant to the terms of Section 2 of the Warrant Certificate, the Warrant Agent shall cause the
Warrant Shares underlying such Warrant Certificate or Global Warrant to be delivered to or upon the order of the Holder of such Warrant
Certificate or Global Warrant, registered in such name or names as may be designated by such Holder, no later than the Warrant Share Delivery
Date (as such term is defined in the Warrant Certificate). If the Company is then a participant in the Deposit or Withdrawal at Custodian
(“DWAC”) system of the Depositary and either (A) there is an effective registration statement permitting the issuance of the
Warrant Shares to or resale of the Warrant Shares by Holder or (B) the Warrant is being exercised via Cashless Exercise, then the certificates
for Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting the account of the Holder’s broker with
the Depositary through its DWAC system. For the avoidance of doubt, if the Company becomes obligated to pay any amounts to any Holders
pursuant to Section 2(d)(i) or 2(d)(iv) of the Warrant Certificate, such obligation shall be solely that of the Company and not that of
the Warrant Agent. Notwithstanding anything else to the contrary in this Agreement, except in the case of a Cashless Exercise, if any
Holder fails to duly deliver payment to the Warrant Agent of an amount equal to the aggregate Exercise Price of the Warrant Shares to
be purchased upon exercise of such Holder’s Warrant as set forth in Section 7(a) hereof by the Warrant Share Delivery Date, the
Warrant Agent will not obligated to deliver such Warrant Shares (via DWAC or otherwise) until following receipt of such payment, and the
applicable Warrant Share Delivery Date shall be deemed extended by one day for each day (or part thereof) until such payment is delivered
to the Warrant Agent.

 

(d)        The
Warrant Agent shall deposit all funds received by it in payment of the Exercise Price for all Warrants in the account of the Company maintained
with the Warrant Agent for such purpose (or to such other account as directed by the Company in writing) and shall advise the Company
via email at the end of each day on which notices of exercise are received or funds for the exercise of any Warrant are received of the
amount so deposited to its account.

 

Section 8. Cancellation
and Destruction of Warrant Certificates. All Warrant Certificates surrendered for the purpose of exercise, transfer, split up, combination
or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for cancellation or in canceled
form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificate shall be issued in lieu thereof except
as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Warrant Agent for cancellation and
retirement, and the Warrant Agent shall so cancel and retire, any other Warrant Certificate purchased or acquired by the Company otherwise
than upon the exercise thereof. The Warrant Agent shall deliver all canceled Warrant Certificates to the Company, or shall, at the written
request of the Company, destroy such canceled Warrant Certificates, and in such case shall deliver a certificate of destruction thereof
to the Company, subject to any applicable law, rule or regulation requiring the Warrant Agent to retain such canceled certificates.

 

 

 

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Section 9. Certain Representations;
Reservation and Availability of Shares of Common Stock or Cash.

 

(a)        This
Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery hereof
by the Warrant Agent, constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance
with its terms, and the Warrants have been duly authorized, executed and issued by the Company and, assuming due authentication thereof
by the Warrant Agent pursuant hereto and payment therefor by the Holders as provided in the Registration Statement, constitute valid and
legally binding obligations of the Company enforceable against the Company in accordance with their terms and entitled to the benefits
hereof; in each case except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws
relating to or affecting creditors’ rights generally or by general equitable principles (regardless of whether such enforceability
is considered in a proceeding in equity or at law).

 

(b)        As
of the date hereof, the authorized capital stock of the Company consists of (i) 180,000,000 shares of common stock, of which 13,389,083
shares of Common Stock are issued and outstanding as of August 9, 2021, and [ ] shares of Common Stock are reserved for issuance upon
exercise of the Warrants, and (ii) 20,000,000 shares of preferred stock, par value $0.0001 per share, of which no shares are issued and
outstanding. Except as disclosed in the Registration Statement, there are no other outstanding obligations, warrants, options or other
rights to subscribe for or purchase from the Company any class of capital stock of the Company.

 

(c)        The
Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Common
Stock or its authorized and issued shares of Common Stock held in its treasury, free from preemptive rights, the number of shares of Common
Stock that will be sufficient to permit the exercise in full of all outstanding Warrants.

 

(d)        The
Warrant Agent will create a special account for the issuance of Common Stock upon the exercise of Warrants.

 

(e)        The
Company further covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes and charges which
may be payable in respect of the original issuance or delivery of the Warrant Certificates or certificates evidencing Common Stock upon
exercise of the Warrants. The Company shall not, however, be required to pay any tax or governmental charge which may be payable in respect
of any transfer involved in the transfer or delivery of Warrant Certificates or the issuance or delivery of certificates for Common Stock
in a name other than that of the Holder of the Warrant Certificate evidencing Warrants surrendered for exercise or to issue or deliver
any certificate for shares of Common Stock upon the exercise of any Warrants until any such tax or governmental charge shall have been
paid (any such tax or governmental charge being payable by the Holder of such Warrant Certificate at the time of surrender) or until it
has been established to the Company’s reasonable satisfaction that no such tax or governmental charge is due.

 

Section 10. Common Stock
Record Date. Each Person in whose name any certificate for shares of Common Stock is issued (or to whose broker’s account is
credited shares of Common Stock through the DWAC system) upon the exercise of Warrants shall for all purposes be deemed to have become
the holder of record for the Common Stock represented thereby on, and such certificate shall be dated, the date on which submission of
the Notice of Exercise was made, provided that the Warrant Certificate evidencing such Warrant is duly surrendered (but only if required
herein) and payment of the Exercise Price (and any applicable transfer taxes) is received on or prior to the Warrant Share Delivery Date;
provided, however, that if the date of submission of the Notice of Exercise is a date upon which the Common Stock transfer books of the
Company are closed, such Person shall be deemed to have become the record holder of such shares on, and such certificate shall be dated,
the next succeeding day on which the Common Stock transfer books of the Company are open.

 

Section 11. Adjustment
of Exercise Price, Number of Shares of Common Stock or Number of the Company Warrants. The Exercise Price, the number of shares covered
by each Warrant and the number of Warrants outstanding are subject to adjustment from time to time as provided in Section 3 of the Warrant
Certificate. In the event that at any time, as a result of an adjustment made pursuant to Section 3 of the Warrant Certificate, the Holder
of any Warrant thereafter exercised shall become entitled to receive any shares of capital stock of the Company other than shares of Common
Stock, thereafter the number of such other shares so receivable upon exercise of any Warrant shall be subject to adjustment from time
to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares contained in Section
3 of the Warrant Certificate and the provisions of Sections 7, 11 and 12 of this Agreement with respect to the shares of Common Stock
shall apply on like terms to any such other shares. All Warrants originally issued by the Company subsequent to any adjustment made to
the Exercise Price pursuant to the Warrant Certificate shall evidence the right to purchase, at the adjusted Exercise Price, the number
of shares of Common Stock purchasable from time to time hereunder upon exercise of the Warrants, all subject to further adjustment as
provided herein.

 

 

 

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Section 12. Certification
of Adjusted Exercise Price or Number of Shares of Common Stock. Whenever the Exercise Price or the number of shares of Common Stock
issuable upon the exercise of each Warrant is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare a certificate
setting forth the Exercise Price of each Warrant as so adjusted, and a brief statement of the facts accounting for such adjustment, (b)
promptly file with the Warrant Agent and with each transfer agent for the Common Stock a copy of such certificate and (c) instruct the
Warrant Agent to send a brief summary thereof to each Holder of a Warrant Certificate.

 

Section 13. Fractional
Shares of Common Stock.

 

(a)        The
Company shall not issue fractions of Warrants or distribute Warrant Certificates which evidence fractional Warrants. Whenever any fractional
Warrant would otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding of such
fraction to the nearest whole Warrant (rounded down).

 

(b)        The
Company shall not issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock certificates which evidence
fractional shares of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required to be issued or distributed,
the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of the Warrant Certificate.

 

Section 14. Conditions
of the Warrant Agent’s Obligations. The Warrant Agent accepts its obligations herein set forth upon the terms and conditions
hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the Holders from time to
time of the Warrant Certificates shall be subject:

 

(a)       Compensation
and Indemnification. The Company agrees promptly to pay the Warrant Agent the compensation detailed on Exhibit 5 hereto for all services
rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees)
incurred without gross negligence or willful misconduct finally adjudicated to have been directly caused by the Warrant Agent in connection
with the services rendered hereunder by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it
harmless against, any loss, liability or expense incurred without gross negligence, or willful misconduct on the part of the Warrant Agent,
finally adjudicated to have been directly caused by Warrant Agent hereunder, including the reasonable costs and expenses of defending
against any claim of such liability. The Warrant Agent shall be under no obligation to institute or defend any action, suit, or legal
proceeding in connection herewith or to take any other action likely to involve the Warrant Agent in expense, unless first indemnified
to the Warrant Agent’s satisfaction. The indemnities provided by this paragraph shall survive the resignation or discharge of the
Warrant Agent or the termination of this Agreement. Anything in this Agreement to the contrary notwithstanding, in no event shall the
Warrant Agent be liable under or in connection with the Agreement for indirect, special, incidental, punitive or consequential losses
or damages of any kind whatsoever, including, but not limited, to lost profits, whether or not foreseeable, even if the Warrant Agent
has been advised of the possibility thereof and regardless of the form of action in which such damages are sought, and the Warrant Agent’s
aggregate liability to the Company, or any of the Company’s representatives or agents, under this Section 14(a) or under any other
term or provision of this Agreement, whether in contract, tort, or otherwise, is expressly limited to, and shall not exceed in any circumstances,
one (1) year’s fees received by the Warrant Agent as fees and charges under this Agreement, but not including reimbursable expenses
previously reimbursed to the Warrant Agent by the Company hereunder.

 

(b)       Agent
for the Company. In acting under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely
as agent of the Company and does not assume any obligations or relationship of agency or trust for or with any of the Holders of Warrant
Certificates or beneficial owners of Warrants.

 

(c)       Counsel.
The Warrant Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such
counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in accordance with the advice of such counsel.

 

(d)       Documents.
The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon
any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed
by it to be genuine and to have been presented or signed by the proper parties.

 

 

 

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(e)       Certain
Transactions. The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants,
with the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable
law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee
or agent for, any committee or body of Holders of Warrant Securities or other obligations of the Company as freely as if it were not the
Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as trustee under any
indenture to which the Company is a party.

 

(f)       No
Liability for Interest. Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies
at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.

 

(g)       No
Liability for Invalidity. The Warrant Agent shall have no liability with respect to any invalidity of this Agreement or the Warrant Certificates
(except as to the Warrant Agent’s countersignature thereon).

 

(h)       No
Responsibility for Representations. The Warrant Agent shall not be responsible for any of the recitals or representations herein or in
the Warrant Certificate (except as to the Warrant Agent’s countersignature thereon), all of which are made solely by the Company.

 

(i)       No
Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically
set forth and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent.
The Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability,
the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable
or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and
delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the Warrant Certificate.
The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements
contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Holder of a Warrant Certificate
with respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt
to initiate any proceedings at law.

 

Section 15. Purchase or
Consolidation or Change of Name of Warrant Agent. Any corporation into which the Warrant Agent or any successor Warrant Agent may
be merged or with which it may be consolidated, or any corporation resulting from any merger or consolidation to which the Warrant Agent
or any successor Warrant Agent shall be party, or any corporation succeeding to the corporate trust business of the Warrant Agent or any
successor Warrant Agent, shall be the successor to the Warrant Agent under this Agreement without the execution or filing of any paper
or any further act on the part of any of the parties hereto, provided that such corporation would be eligible for appointment as a successor
Warrant Agent under the provisions of Section 17. In case at the time such successor Warrant Agent shall succeed to the agency created
by this Agreement any of the Warrant Certificates shall have been countersigned but not delivered, any such successor Warrant Agent may
adopt the countersignature of the predecessor Warrant Agent and deliver such Warrant Certificates so countersigned; and in case at that
time any of the Warrant Certificates shall not have been countersigned, any successor Warrant Agent may countersign such Warrant Certificates
either in the name of the predecessor Warrant Agent or in the name of the successor Warrant Agent; and in all such cases such Warrant
Certificates shall have the full force provided in the Warrant Certificates and in this Agreement.

 

In case at any time the name of the Warrant Agent
shall be changed and at such time any of the Warrant Certificates shall have been countersigned but not delivered, the Warrant Agent may
adopt the countersignature under its prior name and deliver such Warrant Certificates so countersigned; and in case at that time any of
the Warrant Certificates shall not have been countersigned, the Warrant Agent may countersign such Warrant Certificates either in its
prior name or in its changed name; and in all such cases such Warrant Certificates shall have the full force provided in the Warrant Certificates
and in this Agreement.

 

Section 16. Duties of Warrant
Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following terms and conditions,
by all of which the Company, by its acceptance hereof, shall be bound:

 

(a) The Warrant Agent may
consult with legal counsel reasonably acceptable to the Company (who may be legal counsel for the Company), and the opinion of such counsel
shall be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it in good faith and
in accordance with such opinion.

 

 

 

    	 	7	 

     

    

 

(b) Whenever in the performance
of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established
by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein
specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by the Chief Executive Officer
or Chief Financial Officer of the Company; and such certificate shall be full authentication to the Warrant Agent for any action taken
or suffered in good faith by it under the provisions of this Agreement in reliance upon such certificate.

 

(c) Subject to the limitation
set forth in Section 14, the Warrant Agent shall be liable hereunder only for its own gross negligence or willful misconduct, or for a
breach by it of this Agreement.

 

(d) The Warrant Agent shall
not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Warrant Certificate
(except its countersignature thereof) by the Company or be required to verify the same, but all such statements and recitals are and shall
be deemed to have been made by the Company only.

 

(e) The Warrant Agent shall
not be under any responsibility in respect of the validity of this Agreement or the execution and delivery hereof (except the due execution
hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant Certificate (except its countersignature thereof);
nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant Certificate;
nor shall it be responsible for the adjustment of the Exercise Price or the making of any change in the number of shares of Common Stock
required under the provisions of Section 11 or 13 or responsible for the manner, method or amount of any such change or the ascertaining
of the existence of facts that would require any such adjustment or change (except with respect to the exercise of Warrants evidenced
by the Warrant Certificates after actual notice of any adjustment of the Exercise Price); nor shall it by any act hereunder be deemed
to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this
Agreement or any Warrant Certificate or as to whether any shares of Common Stock will, when issued, be duly authorized, validly issued,
fully paid and nonassessable.

 

(f) Each party hereto agrees
that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further
and other acts, instruments and assurances as may reasonably be required by the other party hereto for the carrying out or performing
by any party of the provisions of this Agreement.

 

(g) The Warrant Agent is hereby
authorized to accept instructions with respect to the performance of its duties hereunder from the Chief Executive Officer or Chief Financial
Officer of the Company, and to apply to such officers for advice or instructions in connection with its duties, and it shall not be liable
and shall be indemnified and held harmless for any action taken or suffered to be taken by it in good faith in accordance with instructions
of any such officer, provided Warrant Agent carries out such instructions without gross negligence or willful misconduct.

 

(h) The Warrant Agent and
any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of
the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money
to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing herein shall preclude
the Warrant Agent from acting in any other capacity for the Company or for any other legal entity.

 

(i) The Warrant Agent may
execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its
attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such
attorney or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct, provided reasonable care
was exercised in the selection and continued employment thereof.

 

 

 

    	 	8	 

     

    

 

Section 17. Change of Warrant
Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign and be discharged from its duties under this Agreement
upon 30 days’ notice in writing sent to the Company or such shorter period of time agreed to by the Company . The Company may remove
the Warrant Agent or any successor Warrant Agent upon 30 days’ notice in writing, sent to the Warrant Agent or successor Warrant
Agent, as the case may be, or such shorter period of time as agreed. If the office of the Warrant Agent becomes vacant by resignation,
termination or incapacity to act or otherwise, the Company shall appoint a successor to the Warrant Agent. If the Company shall fail to
make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity by the Warrant
Agent, then the Warrant Agent or any Holder of any Warrant Certificate may apply to any court of competent jurisdiction for the appointment
of a new Warrant Agent, provided that, for purposes of this Agreement, the Company shall be deemed to be the Warrant Agent until a new
warrant agent is appointed. Any successor Warrant Agent (but not including the initial Warrant Agent), whether appointed by the Company
or by such a court, shall be a corporation organized and doing business under the laws of the United States or of a state thereof, in
good standing, which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by
federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities,
duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any
further act or deed, and except for executing and delivering documents as provided in the sentence that follows, the predecessor Warrant
Agent shall have no further duties, obligations, responsibilities or liabilities hereunder, but shall be entitled to all rights that survive
the termination of this Warrant Agreement and the resignation or removal of the Warrant Agent, including, but not limited to, its right
to indemnity hereunder. If for any reason it becomes necessary or appropriate or at the request of the Company, the predecessor Warrant
Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority,
powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make,
execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such
successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

 

Section 18. Issuance of
New Warrant Certificates. Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary, the Company
may, at its option, issue new Warrant Certificates evidencing Warrants in such form as may be approved by its Board of Directors to reflect
any adjustment or change in the Exercise Price per share and the number or kind or class of shares of stock or other securities or property
purchasable under the several Warrant Certificates made in accordance with the provisions of this Agreement.

 

Section 19. Notices.
Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of any Warrant Certificate
to or on the Company, (ii) subject to the provisions of Section 17, by the Company or by the Holder of any Warrant Certificate to or on
the Warrant Agent or (iii) by the Company or the Warrant Agent to the Holder of any Warrant Certificate shall be deemed given (a) on the
date delivered, if delivered personally, (b) on the first Business Day following the deposit thereof with Federal Express or another recognized
overnight courier, if sent by Federal Express or another recognized overnight courier, (c) on the fourth Business Day following the mailing
thereof with postage prepaid, if mailed by registered or certified mail (return receipt requested), and (d) the date of transmission,
if such notice or communication is delivered via facsimile or email attachment at or prior to 5:30 p.m. (New York City time) on a Business
Day and (e) the next Business Day after the date of transmission, if such notice or communication is delivered via facsimile or email
attachment on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day, in each case to the parties
at the following addresses (or at such other address for a party as shall be specified by like notice):

 

(a)       If
to the Company, to:

 

BitMine Immersion Technologies, Inc.

2030 Powers Ferry Road SE

Suite # 212

Atlanta, GA. 30339

 

with a copy (which shall not constitute
notice) to:

 

Investment Law Group

545 Dutch Valley Road SE

Suite A

Atlanta, GA. 30324

Att.: Robert Mottern, Esq.

 

 

    	 	9	 

     

    

 

(b)       If
to the Warrant Agent, to:

 

West Coast Stock Transfer, Inc.

721 North Vulcan Avenue

1st Floor

Encinitas, CA. 92024

Att.: Eddie Tobler

 

For any notice delivered by email to be deemed
given or made, such notice must be followed by notice sent by overnight courier service to be delivered on the next business day following
such email, unless the recipient of such email has acknowledged via return email receipt of such email.

 

(c) If to the Holder of any
Warrant Certificate to the address of such Holder as shown on the registry books of the Company. Any notice required to be delivered by
the Company to the Holder of any Warrant may be given by the Warrant Agent on behalf of the Company. Notwithstanding any other provision
of this Agreement, where this Agreement provides for notice of any event to a Holder of any Warrant, such notice shall be sufficiently
given if given to the Depositary (or its designee) pursuant to the procedures of the Depositary or its designee.

 

Section 20. Supplements
and Amendments.

 

(a)        The
Company and the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders of Global Warrants
in order to add to the covenants and agreements of the Company for the benefit of the Holders of the Global Warrants or to surrender any
rights or power reserved to or conferred upon the Company in this Agreement, provided that such addition or surrender shall not adversely
affect the interests of the Holders of the Global Warrants or Warrant Certificates in any material respect.

 

(b)        In
addition to the foregoing, with the consent of Holders of Warrants entitled, upon exercise thereof, to receive not less than a majority
of the shares of Common Stock issuable thereunder, the Company and the Warrant Agent may modify this Agreement for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions of this Warrant Agreement or modifying in any manner
the rights of the Holders of the Global Warrants; provided, however, that no modification of the terms (including but not limited to the
adjustments described in Section 11) upon which the Warrants are exercisable or the rights of holders of Warrants to receive liquidated
damages or other payments in cash from the Company or reducing the percentage required for consent to modification of this Agreement may
be made without the consent of the Holder of each outstanding Warrant Certificate affected thereby; provided further, however, that no
amendment hereunder shall affect any terms of any Warrant Certificate issued in a Warrant Exchange. As a condition precedent to the Warrant
Agent’s execution of any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer
of the Company that states that the proposed amendment complies with the terms of this Section 20.

 

Section 21. Successors.
All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit
of their respective successors and assigns hereunder.

 

Section 22. Benefits of
this Agreement. Nothing in this Agreement shall be construed to give any Person other than the Company, the Holders of Warrant Certificates
and the Warrant Agent any legal or equitable right, remedy or claim under this Agreement. This Agreement shall be for the sole and exclusive
benefit of the Company, the Warrant Agent and the Holders of the Warrant Certificates.

 

Section 23. Governing Law.
This Agreement and each Warrant Certificate and Global Warrant issued hereunder shall be governed by, and construed in accordance with,
the laws of the State of California, without giving effect to the conflicts of law principles thereof.

 

Section 24. Counterparts.
This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument.

 

 

 

    	 	10	 

     

    

 

Section 25. Captions.
The captions of the sections of this Agreement have been inserted for convenience only and shall not control or affect the meaning or
construction of any of the provisions hereof.

 

Section 26. Information.
The Company agrees to promptly provide to the Holders of the Warrants any information it provides to the holders of the Common Stock,
except to the extent any such information is publicly available on the EDGAR system (or any successor thereof) of the Securities and Exchange
Commission.

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	 	BITMINE IMMERSION TECHNOLOGIES, INC.

 

 

By: /s/ Erik Nelson

Name: Erik Nelson

Title: President

 

 

 

 

WEST COAST STOCK TRANSFER, INC.

 

 

By: /s/ Eddit Tobler

Name: Eddie Tobler

Title: Secretary & Director

 

 

 

 

 

 

    	 	11	 

     

    

 

Exhibit 1

 

Form of Class A Warrant

 

 

 

 

    	 	12	 

     

    

 

Exhibit 2

 

Form of Class B Warrant

 

 

 

 

    	 	13	 

     

    

 

Exhibit 3

 

Warrant Certificate Request Notice

 

 

 

    	 	14	 

     

    

 

Exhibit 4

 

Global Warrants Request Notice

 

 

 

    	 	15	 

     

    

 

Exhibit 5

 

Compensation to Warrant Agent

 

 

 

 

 

 

 

 

 

    	 	16Exhibit 10.2

 

Line of Credit Agreement

 

 

This LINE OF CREDIT AGREEMENT
is entered into on this 4th day of August, 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 Immersion Technologies, 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 replaces the Line of Credit agreement dated July 22, 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 initial amount of the Line of Credit shall be One Million Dollars
($1,000,000), which IDI shall provide to BitMine as follows:

 

		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 or directly to the bank account of the seller of said machinery.

 

		B.	Amount Borrowed: To date, $277,296 has been borrowed per the facility to acquire qualified machinery.

 

		B.	Borrow Period:  The availability of funds shall be from a period commencing with the signing of
this agreement and continue through October 1, 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.

 

 

 

    	 	1	 

     

    

 

	3.	Type and Place of Payment: 

 

		A.	The amount due IDI, including principal and interest shall be due and payable on a six (6) month fully
amortized schedule starting November 1st, 2021 with a final payment 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

 

		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:

 

		A.	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.

 

		B.	Decide to convert into common stock at the greater of $0.015/share or 5%
of the trading day's closing price.

 

	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.

 

 

 

    	 	2	 

     

    

 

		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.

 

	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).

 

	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

 

 

 

    	 	3	 

     

    

 

	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.

 

	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 4th day of August, 2021

     

     

    /s/ Jonathan Bates

    Jonathan Bates

    Managing Director of

    The General Partner

    Innovative Digital Investors Emerging Technology, L.P.
	
    Agreed to and Accepted

    this 4th day of August, 2021

     

     

    /s/ Erik Nelson

    Erik Nelson,

    President

    BitMine Immersion Technologies, Inc.

 

 

 

 

 

 

    	 	4

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