Document:

Exhibit
10.31

 

GAS
SUPPLY AGREEMENT

 

THIS
GAS SUPPLY AGREEMENT (“Agreement”) is dated effective as of the 22nd day of October, 2021 (the “Effective
Date”), by and between CREEK ROAD MINERS, INC., a Delaware corporation (“Creek Road”) and AMERICAN NATURAL
ENERGY CORPORATION, an Oklahoma corporation (“ANEC”). Creek Road and ANEC are hereinafter collectively referred to
as the “Parties.”

 

RECITALS

 

ANEC
currently produces natural gas from ANEC’s operations on property in the Bayou Couba field located in St. Charles Parish, Louisiana
(the “ANEC Gas Operation”).

 

A.
Creek Road intends to moor a barge (the “Barge”) with a 1MW gas turbine, transformer, fuel conditioning unit and air-cooled
container to house Bitcoin mining servers at the ANEC Gas Operation at the location indicated on the map attached hereto as Exhibit A
(the “Site”).

 

B.
Creek Road desires to purchase natural gas from ANEC to power the Barge.

 

C.
ANEC desires to sell natural gas to Creek Road to power the Barge.

 

D.
ANEC and Creek Road desire to enter into a written contract that sets forth their agreements with respect to the purchase by Creek Road
of Natural Gas from ANEC and their respective rights regarding the Barge.

 

NOW,
THEREFORE, in consideration of the agreements hereafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, ANEC and Creek Road agree as follows:

 

1. Definitions.
For purposes of this Agreement, the following terms shall have the meanings set forth below:

 

		(a)	“Daily
                                            Gas Charge” is the daily spot price to ANEC per MMBTU of natural gas charged by
                                            Shell Energy North America (US), L.P.

 

		(b)	“Environmental
                                            Activity” means any actual, proposed or threatened storage, holding, existence,
                                            release, escape, emission, discharge, spilling, leaking, pouring, pumping, injection, dumping,
                                            discarding, burying, abandoning, generation, processing, abatement, treatment, removal, disposition,
                                            handling, transportation or other management of any Hazardous Substance or any other activity
                                            or occurrence that causes or would cause any such event to exist.

 

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		(c)	“Environmental
                                            Laws” means any and all federal, state and local health, safety, environmental
                                            or natural resource laws, statutes, rules, ordinances, codes, licenses, permits, orders,
                                            approvals, plans, authorizations, regulations, or similar items (whether now existing or
                                            hereafter enacted or promulgated) of any Governmental Authority, having jurisdiction, and
                                            all other state, federal and local laws, regulations, rules, ordinances, and orders which
                                            govern: (i) the existence, cleanup and/or remedy of contamination on property; (ii) the emission
                                            or discharge of Hazardous Substances into the environment; (iii) the control of Hazardous
                                            Substances; (iv) the use, generation, transport, treatment, storage, disposal, removal, or
                                            recovery of Hazardous Substances; or (v) the safety and health of employees, any tenant,
                                            other user or invitee; as well as all applicable judicial and administrative and regulatory
                                            decrees, judgments or orders (including without limitation the “common law”)
                                            and all applicable covenants running with the land that relate to the protection of health,
                                            safety, environment or natural resources, including, without limitation: (a) The Comprehensive
                                            Environmental Response, Compensation and Liability Act of 1980, as amended by The Superfund
                                            Amendments and Reauthorization Act of 1986; (b) The Resource Conservation and Recovery Act
                                            of 1976, as amended by The Used Oil Recycling Act of 1980; (c) The Solid Waste Disposal Act
                                            Amendment of 1980; (d) The Hazardous and Solid Waste Amendments of 1984; (e) The Hazardous
                                            Materials Transportation Act; (f) The Clean Water Act; (g) The Clean Air Act; (h) The Toxic
                                            Substances Control Act; (i) The Safe Drinking Water Act; (j) The Occupational Safety and
                                            Health Act; (k) The Federal Water Pollution Control Act; (l) the Oil Pollution Act; and (m)
                                            The Federal Insecticide, Fungicide and Rodenticide Act; and all local government ordinances,
                                            codes, resolutions, or other laws for the protection of public health and the environment,
                                            including but not limited to the Louisiana State and Local Coastal Resources Management Act,
                                            as amended (Act 361, La. R.S. 49:214.21 et seq).

 

		(d)	“Governmental
                                            Authority” means the government of any nation or any political subdivision thereof,
                                            whether at the national, state, municipal, parish, or any other level, and any agency, authority,
                                            instrumentality, regulatory body, court, central bank, or other entity exercising executive,
                                            legislative, judicial, taxing, regulatory, or administrative powers or functions of, or pertaining
                                            to, government, including but not limited to the Louisiana Department of Natural Resources,
                                            the Louisiana Department of Environmental Quality, and the Louisiana Department of Wildlife
                                            and Fisheries.

 

		(e)	“Hazardous
                                            Substances” means any substance:

 

		i.	the
                                            presence of which requires investigation, reporting, removal or remediation under any Environmental
                                            Law;

 

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		ii.	that
                                            is or becomes defined as a “hazardous waste,” “hazardous substance,”
                                            “hazardous material,” “extremely hazardous substance,” or other type
                                            of pollutant or contaminant under any applicable Environmental Law;

 

		iii.	that
                                            is toxic, reactive, explosive, corrosive, flammable, radioactive, carcinogenic, mutagenic,
                                            teratogenic, or otherwise hazardous and is or becomes regulated by any applicable Environmental
                                            Law;

 

		iv.	that
                                            is or contains oil, gasoline, diesel fuel, aviation fuel, or other petroleum hydrocarbons,
                                            products or derivatives, other than petroleum, crude oil, and petroleum products to the extent
                                            contained within regularly operated motor vehicles;

 

		v.	that
                                            is or contains PCBs, asbestos, radon or urea formaldehyde;

 

		vi.	that
                                            is fungi or bacterial matter which reproduces through the release of spores or the splitting
                                            of cells, including but not limited to, mold (including, without limitation, penicillium/aspergillus
                                            and stachybotrys chartarum), and Legionella (legionella pneumophila); or

 

		vii.	the
                                            presence of which causes or threatens to cause a nuisance upon the Property or to adjacent
                                            property or poses or threatens to pose a hazard to the health or safety of any person, to
                                            plant or animal life, or to the environment, including, but not limited to sewage sludge,
                                            industrial slag, solvents and/or any other similar substances or materials.

 

		(f)	“Law”
                                            means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common
                                            law, judgment, decree, other requirement or rule of law of any Governmental Authority applicable
                                            to a Party, including its business and operation, and any applicable environmental laws or
                                            regulations.

 

		(g)	“Natural
                                            Gas” means any natural gas actually supplied by ANEC to the Barge via the Connection.

 

		(h)	“Taxes”
                                            means any and all sales, use, gross receipts, environmental, ad valorem, or excise tax or
                                            any other similar taxes, fees, duties, or charges of any kind imposed by any Governmental
                                            Authority on any amounts payable by Creek Road under this Agreement; exclusive, however,
                                            of any taxes, assessments, or other levies imposed on ANEC’s income or capital (including
                                            leased or purchased property, equipment, or software), any franchise taxes, any taxes in
                                            lieu of net income taxes, and any other direct taxes imposed on ANEC.

 

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2.
Term and Termination. This Agreement shall be effective as of the Effective Date and shall continue for a period of ninety (90)
days, unless earlier terminated as provided herein (the “Initial Term”). If the Agreement is not terminated by either
Party at the end of the Initial Term, it shall continue on a month-to-month basis for a maximum of three (3) months (the “Extended
Term” and with the Initial Term, the “Term”). Either Party may terminate the Agreement at the end of the
Initial Term or during the Extended Term by providing the other Party thirty (30) days’ written notice of its desire to terminate
the Agreement. ANEC may terminate this Agreement at any time during the Term pursuant to Section 8(c) of this Agreement, or if, in ANEC’s
sole discretion, this Agreement and the transactions contemplated herein could result in an adverse action against ANEC by (i) any Governmental
Authority, (ii) any counter-party to a mineral, real property, or other lease, servitude, or other agreement related to the ANEC Gas
Operation, or (iii) any commercial or business partner of ANEC. In no event shall ANEC receive the Daily Fee for less than the Initial
Term.

 

3.
Natural Gas Connection Installation. Creek Road shall supply all equipment and labor necessary to install the Connection (as defined
below). Within two (2) days of the Barge and equipment arriving at and being safely moored at the Site, ANEC will grant access to the
Site and Barge for Creek Road contractors to connect the Barge to the gas sales pipeline on the ANEC compressor barge located at the
Site (the “Connection”). At the Connection, Creek Road shall install a 2” Senior Meter Run (the “Meter”)
in order to track the daily volume of Natural Gas supplied to the Barge. ANEC shall only transfer Natural Gas through the Connection
after receipt of notice from Creek Road that the Connection and Meter have been successfully installed and that the Meter will accurately
track the daily volume of Natural Gas that passes through the Connection. The notice shall include evidence of such successful installation.
Creek Road shall be responsible for procuring and maintaining any and all equipment or materials needed for the Connection. Creek Road
shall bear all costs, including the costs of any ANEC equipment or materials and the cost of ANEC personnel or contractor time, needed
to make and maintain the Connection during the Term.

 

4.
Natural Gas Supply. ANEC’s obligation to supply Natural Gas to Creek Road is subject to availability and, therefore, shall
be subject to curtailment or interruption when, in ANEC’s sole judgment, such curtailment or interruption is necessarily due to
operating conditions or otherwise. ANEC may at any time, and from time to time, at its sole option, supply Natural Gas purchased by ANEC.
Upon expiration of this Agreement, ANEC may disconnect and remove any of its equipment and materials for the Connection and Creek Road
shall promptly return any ANEC equipment in Creek Road’s possession.

 

5. Barge
Siting. Creek Road shall have the exclusive duty and obligation at all times to securely moor the Barge at the Site, to maintain
safe control of the Barge, to maintain the Barge in a safe and seaworthy manner, to remove the Barge from the Site within
forty-eight (48) hours of termination of this Agreement and to obtain and maintain any permits which may be required to moor the
Barge and conduct any Bitcoin mining operations. Creek Road shall use the Barge solely for purposes of operating the Bitcoin mining
servers on the Barge and Creek Road must obtain ANEC’s prior written consent before using the Barge, in whole or in part, for
any other purpose. ANEC may not access the Barge without the prior written consent of Creek Road except that ANEC may access the
Barge without Creek Road’s consent:

 

		(a)	to
                                            protect the health and safety of ANEC or Creek Road personnel or contractors present at the
                                            Site or ANEC Gas Operation;

 

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		(b)	to
                                            avoid damage to ANEC or third party property located at the Site or ANEC Gas Operation;

 

		(c)	to
                                            secure the Barge in preparation for inclement weather or natural disasters, including but
                                            not limited to hurricanes, tropical storms, tropical depressions, or expected flooding or
                                            storm surges; and

 

		(d)	The
                                            Parties agree that ANEC shall under no circumstances have any obligation or duty to access
                                            the Barge, including under subparts (a), (b) and (c) above. However, If ANEC elects to access
                                            the Barge in such circumstances, then Creek Road shall reimburse ANEC for any and all costs
                                            associated with ANEC’s access and associated efforts.

 

6.
Representations and Warranties. ANEC makes no representation or warranty regarding the title of, suitability of, availability
of, or access to the Site, and nothing in this Agreement shall be deemed as a lease, sublease, or conveyance of the Site or any rights
to moor the Barge at the Site. ANEC makes no representations or warranty regarding any permits which may be required for Creek Road’s
operations, and has no duty or obligation to obtain any such permits. Creek Road represents and warrants that it has independently concluded
it is permitted to moor the Barge at the Site and conduct Bitcoin mining operations at the Site, and has not relied upon any representation
by or transfer of rights from ANEC in so concluding.

 

7.
Transportation to Site. In order for Creek Road to perform regular maintenance and inspections of the Barge and Creek Road equipment,
and upon reasonable verbal request from Creek Road, ANEC will use commercially reasonable efforts, taking into consideration current
weather conditions and regular operations in the Bayou Couba Field, to provide boat transport of Creek Road personnel during regular
day-light hours from the Pier 90 Marina in Luling, Louisiana, to the Barge in Bayou Couba (the “Boat Transport”). ANEC assumes
no responsibility for any losses or damages to Creek Road or personnel related to the Boat Transport.

 

8.
Environmental and Regulatory Covenants, Representations and Warranties. Creek Road represents and warrants that, during the Term
of the Agreement:

 

		(a)	the
                                            mooring of the Barge at the Site and the proposed operation of the Barge will not result
                                            in any Environmental Activity in violation of any Environmental Laws;

 

		(b)	the
                                            Barge is in compliance in all respects with all applicable Environmental Laws;

 

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		(c)	no
                                            notice, order, directive, compliant or other communication, written or oral, will be made
                                            or issued by any Governmental Authority or other person, entity or agency alleging the occurrence
                                            of any Environmental Activity in violation of any Environmental Laws with respect to the
                                            Barge or the use and operation of the Barge at the Site;

 

		(d)	it
                                            has obtained and maintained any all permits, certificates, filings, licenses or similar approvals
                                            required for the mooring of the Barge at the Site and the use and operation of the Barge;

 

		(e)	it
                                            will not cause or permit Environmental Activity at, on, over, under, about, within or to
                                            or from the Barge either by itself or by its employees, agents, assigns, invitees, tenants,
                                            or any other party or parties;

 

		(f)	it
                                            will promptly remove from the Barge or Site, if and as required by Environmental Laws or
                                            by ANEC, any Hazardous Substances discovered at, about, within or on the Barge or Site which
                                            is not at any time or in any respect in full compliance with such Environmental Laws, and
                                            to promptly comply in all respects with all Environmental Laws governing such removal; and

 

		(g)	following
                                            the discovery by Creek Road of a breach of any of the representations, warranties or covenants
                                            contained herein, it will promptly deliver to ANEC notice of any event that would render
                                            any representation or warranty contained in this Section incorrect in any respect if made
                                            at the time of such discovery.

 

9.
Payment.

 

(a)
ANEC shall charge Creek Road, and Creek Road shall owe, the following fee for each day that the Barge is located at the Site (the “Daily
Fee”).

 

During
the Initial Term: $1,500 per day

During the Extended Term: $2,000 per day

 

Creek
Road shall pay ANEC the Daily Fee for each day in the upcoming calendar month within five (5) business days such month. In the event
this Agreement is terminated on a day other than the last day of a calendar month, and Creek Road has actually paid the Daily Fee for
every day in such calendar month, then within thirty (30) days of termination of the Agreement, ANEC shall remit to Creek Road an amount
equal to the Daily Fees for the remaining days in the calendar month after the termination of the Agreement after offsetting any other
sums due ANEC.

 

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(b)
ANEC shall charge Creek Road, and Creek Road shall pay, for the volume of Natural Gas supplied in a calendar month (the “Monthly
Gas Fee”). The Monthly Gas Fee shall equal the Daily Gas Charge for each day of the month for which Natural Gas is supplied
hereunder and shall be billed to Creek Road no later than three (3) business days after receipt of monthly gas charges from Shell Energy
North America (US), L.P. and Creek Road shall pay the amount due no later than fifteen (15) days after receipt of an invoice from ANEC.

 

(c)
All late payments shall bear interest at the rate of eighteen percent (18%) per annum. Creek Road shall also reimburse ANEC for all costs
incurred in collecting any late payments, including, without limitation, attorneys’ fees. In addition to all other remedies available
under this Agreement or at Law (which ANEC does not waive by the exercise of any rights hereunder), ANEC shall be entitled to suspend
the supply of Natural Gas if Creek Road fails to pay any amounts when due hereunder.]

 

10.
Events of Default. Each of the following events or occurrences shall constitute an event of default hereunder (each an “Event
of Default”):

 

		(a)	Creek
                                            Road fails to pay any amount due hereunder on the due date thereof, and such failure is not
                                            cured within two (2) days after written notice thereof from ANEC;

 

		(b)	Creek
                                            Road fails to comply with the insurance terms and conditions set out in Exhibit B of this
                                            Agreement;

 

		(c)	Creek
                                            Road fails to perform or observe any other covenant, condition or agreement to be performed
                                            or observed by it or breaches any representation or provision contained herein, and such
                                            failure or breach shall continue unremedied for a period of five (5) days after written notice
                                            from ANEC; provided, however, that it shall not be a default if within the five (5) day period,
                                            Creek Road completes corrective action such that correction of such breach is achieved;

 

		(d)	Creek
                                            Road, without ANEC’s consent, attempts to sell, transfer, encumber, part with possession,
                                            or sublet the Barge while it is located at the Site;

 

		(e)	Creek
                                            Road fails to comply with ANEC’s reasonable requests related to the operation of the
                                            Barge, the Connection, or with ANEC’s operational, health or safety protocols and instructions;

 

		(f)	Creek
                                            Road fails to comply with any Law related to the ownership, operation and location of the
                                            Barge; or

 

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		(g)	Creek
                                            Road shall (i) cease, be unable, or admit in writing its inability, to pay its debts as they
                                            mature, or make a general assignment for the benefit of, or enter into any composition or
                                            arrangement with creditors; (ii) apply for or consent to the appointment of a receiver, trustee
                                            or liquidator of it or of a substantial part of its property, or authorize such application
                                            or consent, or proceedings seeking such appointment shall be instituted against it without
                                            such authorization, consent or application and shall continue undismissed for a period of
                                            fifteen (15) days; or (iii) authorize or file a voluntary petition in bankruptcy or apply
                                            for or consent to the application of any bankruptcy, reorganization in bankruptcy, arrangement,
                                            readjustment of debt, insolvency, dissolution, moratorium or other similar Law of any jurisdiction,
                                            or authorize such application or consent; or proceedings to such end shall be instituted
                                            against it without such authorization, application or consent and such proceeding instituted
                                            against it shall continue undismissed for a period of fifteen (15) days.

 

11.
Remedies. Upon the occurrence of any Event of Default and at any time thereafter, ANEC may, in its sole discretion, do any one
or more of the following:

 

		(a)	proceed
                                            to enforce performance of the applicable covenants and terms of this Agreement, to recover
                                            damages for the breach, or to seek indemnification under Section 12 of this Agreement;

 

		(b)	without
                                            notice to Creek Road, disconnect the Connection;

 

		(c)	upon
                                            written notice to Creek Road, immediately terminate this Agreement without prejudice to ANEC’s
                                            rights in respect of obligations then accrued and remaining unsatisfied hereunder;

 

		(d)	recover
                                            from Creek Road all reasonable costs and expenses including without limitation any incidental
                                            expenses and legal fees and expenses incurred by ANEC as a result of Creek Road’s default
                                            hereunder, less any credits due Creek Road pursuant to Law; and

 

		(e)	exercise
                                            any other right or remedy which may be available to ANEC under Law.

 

No
remedy referred to in this Section 11 is intended to be exclusive, but all such remedies shall be cumulative and in addition to any other
remedy referred to above or otherwise available to ANEC at Law or in equity as long as exercising such remedies cumulatively is permitted
by Law. No express or implied waiver by ANEC of any default shall constitute a waiver of any other default by Creek Road or a waiver
of any of ANEC’s rights.

 

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12.
Indemnification.

 

		(a)	Subject
                                            to the terms and conditions set forth in this Section 12, Creek Road (as “Indemnifying
                                            Party”) shall indemnify, hold harmless, and defend ANEC and its officers, directors,
                                            employees, agents, affiliates, successors, together with the insurers of all the foregoing,
                                            and permitted assigns (collectively, “Indemnified Party(is)”) against
                                            any and all third- party (including without limitation, Governmental Authority) demand, proceeding,
                                            or claim of any kind for any and all losses, damages, liabilities, deficiencies, claims,
                                            actions, judgments, settlements, interest, awards, penalties, fines, costs, or expenses of
                                            whatever kind, including attorneys’ fees, that are incurred by Indemnified Party (collectively,
                                            “Losses”), arising out of or related to this Agreement, the Barge or Creek
                                            Road’s Bitcoin mining, the Connection, the Meter, the Site, or any other operations,
                                            equipment, or activities incident to, arising out of, or performed pursuant to this Agreement,
                                            including, but not limited to:

 

		i.	breach
                                            or non-fulfillment of any provision of this Agreement by Indemnifying Party or Indemnifying
                                            Party’s personnel;

 

		ii.	Losses
                                            arising out of the negligent or more culpable act or omission (including any reckless or
                                            willful misconduct) of Indemnifying Party or its personnel (which shall include all invitees,
                                            contractors, subcontractors, consultants or other vendors and their personnel) related to
                                            or arising out of this Agreement, the Barge, Meter, Connection, or any operations or activities
                                            incident to or performed pursuant to this Agreement;

 

		iii.	Losses
                                            relating to bodily injury to, death of, or damage to real and/or tangible personal property
                                            and/or intangible property of any person arising out of any act or omission or any operations,
                                            equipment, or activities incident to this Agreement by Indemnifying Party or its personnel
                                            (which shall include all contractors, subcontractors, consultants or other vendors and their
                                            personnel);

 

		iv.	any
                                            failure by Indemnifying Party or its personnel (which shall include all contractors, subcontractors,
                                            consultants or other vendors and their personnel) to comply with any Law in the performance
                                            of its obligations under this Agreement;

 

		v.	Losses
                                            arising out of Creek Road’s mooring of, or the failure of the mooring of, the Barge
                                            at the Site;

 

		vi.	Losses
                                            arising out of Environmental Activity;

 

		vii.	any
                                            alleged or actual breach or violation of Environmental Laws;

 

		viii.	Losses
                                            arising out of removal, repositioning, or any other movement of the Barge from or at the
                                            Site;

 

		ix.	any
                                            failure by Indemnifying Party or its personnel (which shall include all contractors, subcontractors,
                                            consultants or other vendors and their personnel) to comply with the reasonable verbal or
                                            written instructions of ANEC while at the ANEC Gas Operation or while the Barge is at the
                                            Site; and

 

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		x.	any
                                            assertion this Agreement violates (1) any Law, including any Environmental Law; (2) a mineral
                                            lease covering any portion of the Bayou Couba field in which ANEC has an interest; or (3)
                                            the terms of any real property lease or other agreement related to ANEC’s operations
                                            in the Bayou Couba field.

 

		(b)	Indemnified
                                            Party shall give notice to Indemnifying Party (a “Claim Notice”) within
                                            ninety (90) days after obtaining knowledge of any Losses or discovery of facts on which Indemnified
                                            Party intends to base a request for indemnification under this Section. Indemnified Party’s
                                            failure to provide a Claim Notice to Indemnifying Party under this Section does not relieve
                                            Indemnifying Party of any liability that Indemnifying Party may have to Indemnified Party,
                                            but in no event shall Indemnifying Party be liable for any losses that result directly from
                                            a delay in providing a Claim Notice, which delay materially prejudices the defense of the
                                            related third- party claim. Indemnifying Party’s duty to defend applies immediately,
                                            regardless of whether Indemnified Party has paid any sums or incurred any detriment arising
                                            out of or relating, directly or indirectly, to any third- party claim.

 

		(c)	Notwithstanding
                                            anything to the contrary in this Section, Indemnified Party may select its own legal counsel
                                            to represent its interests, and Indemnifying Party shall:

 

		i.	reimburse
                                            Indemnified Party for its costs and attorneys’ fees immediately upon request as they
                                            are incurred; and

 

		ii.	remain
                                            responsible to Indemnified Party for all hold harmless and indemnity obligations under this
                                            Section.

 

		(d)	Indemnifying
                                            Party shall give prompt written notice to Indemnified Party of any proposed settlement of
                                            a Loss or any other event that is indemnifiable under this Section. Indemnifying Party may
                                            not, without Indemnified Party’s prior written consent, settle or compromise any claim
                                            or consent to the entry of any judgment regarding which indemnification is being sought hereunder.

 

		(e)	None
                                            of the terms, obligations, and conditions of this Agreement, including without limitation
                                            Creek Road’s defense, indemnity and hold harmless obligations shall be affected by
                                            any limitation of liability proceedings filed by Creek Road, and the contractual rights and
                                            obligations of the parties shall be and remain the same as though such proceedings had not
                                            been filed. No judgment, order, or ruling entered in such an exoneration from or limitation
                                            of liability proceeding shall void, invalidate or in any way affect or change the personal
                                            contractual relationship of the parties or the rights and liabilities of Creek Road as provided
                                            in or arising out of this personal contract; nor shall such judgment, order, or ruling invalidate
                                            or in any way affect or change the obligations or liabilities of the insurers in the insurance
                                            policies required in this Agreement, and the policies shall so provide.

 

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13.
Confidentiality. During the Term, either Party (as the “Disclosing Party”) may disclose or make available to
the other Party (as the “Receiving Party”) information about its business affairs, confidential intellectual property,
trade secrets, third-party confidential information and other sensitive or proprietary information, whether orally or in written, electronic,
or other form or media, and whether or not marked, designated, or otherwise identified as “confidential” (collectively, “Confidential
Information”). Confidential Information shall not include information that, at the time of disclosure and as established by
documentary evidence: (i) is or becomes generally available to and known by the public other than as a result of, directly or indirectly,
any breach of this Section by the Receiving Party; (ii) is or becomes available to the Receiving Party on a non-confidential basis from
a third-party source, provided that such third party is not and was not prohibited from disclosing such Confidential Information; (iii)
was known by or in the possession of the Receiving Party before being disclosed by or on behalf of the Disclosing Party; (iv) was or
is independently developed by the Receiving Party without reference to or use, in whole or in part, of any of the Disclosing Party’s
Confidential Information; or (v) is required to be disclosed under Law or a valid order issued by a court or Governmental Authority of
competent jurisdiction. The Receiving Party shall: (A) protect and safeguard the confidentiality of the Disclosing Party’s Confidential
Information with at least the same degree of care as the Receiving Party would protect its own Confidential Information, but in no event
with less than a commercially reasonable degree of care; (B) not use the Disclosing Party’s Confidential Information, or permit
it to be accessed or used, for any purpose other than to exercise its rights or perform its obligations under this Agreement; and (C)
not disclose any such Confidential Information to any person or entity, except to the Receiving Party’s Representatives who need
to know the Confidential Information to assist the Receiving Party, or act on its behalf, to exercise its rights or perform its obligations
under the Agreement. The Receiving Party shall be responsible for any breach of this Section caused by any of its personnel or contractors.
At any time during or after the Term, at the Disclosing Party’s written request, the Receiving Party shall promptly return, and
shall require its personnel and contractors to return to the Disclosing Party all copies, whether in written, electronic or other form
or media, of the Disclosing Party’s Confidential Information, or destroy all such copies and certify in writing to the Disclosing
Party that such Confidential Information has been destroyed. In addition to all other remedies available at Law, the Disclosing Party
may seek equitable relief (including injunctive relief) pursuant to Section 20 against the Receiving Party and its personnel and contractors
to prevent the breach or threatened breach of this Section and to secure its enforcement.

 

14.
Further Assurances. Each of the Parties hereto shall execute and deliver such additional documents and take such further actions
as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated hereby.

 

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15.
Public Announcements. Unless otherwise required by Law (based upon the reasonable advice of counsel), no Party to this Agreement
shall make any public announcements in respect of this Agreement or the transactions contemplated hereby or otherwise communicate with
any news media without the prior written consent of the other Party (which consent shall not be unreasonably withheld, conditioned, or
delayed), and the Parties shall cooperate as to the timing and contents of any such announcement.

 

16.
Notices. All notices, requests, consents, claims, demands, waivers, and other communications hereunder (each, a “Notice”)
shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when
received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date delivered by email;
or (d) on the third day after the date mailed, by certified or registered mail (in each case, return receipt requested, postage pre-paid).
Notices must be sent to the respective Parties at the following addresses (or at such other address for a Party as shall be specified
in a Notice given in accordance with this Section):

 

	 	If
    to ANEC:	4849
    Greenville Ave
	 	 	Suite
    1250
	 	 	Dallas,
    TX 75206
	 	 	Email:
    pegge@hillairoilandgas.com
	 	 	Attention:	Phillip
    Egge, co-CEO & COO
	 	 	 	                                                
	 	with
    a copy to:	Baker,
    Donelson, Bearman, Caldwell & Berkowitz, PC
	 	 	Email:
    azuckerman@bakerdonelson.com
	 	 	Attention:	Adam
    Zuckerman
	 	 	 	 
	 	If
    to Creek Road:	2700
    Homestead Road
	 	 	Suite
    50
	 	 	Park
    City, UT 84098
	 	 	Email:
    skaufman@creekroadminers.com
	 	 	Attention:	Scott
    Kaufman, CEO
	 	 	 	 
	 	with
    copy to:	2700
    Homestead Road 
	 	 	Suite 50
	 	 	Park
    City, UT 84098
	 	 	Email:
    ssheikh@creekroadminers.com
	 	 	Attention:	Scott
    Sheikh, COO and General Counsel
	 	 	 	 
	 	with
    a copy to:	Gary
    R. Henrie, Attorney at Law
	 	 	Email:
    grhlaw@hotmail.com
	 	 	Attention:	Gary
    Henrie

 

17.
Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity,
illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable
such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal, or unenforceable,
the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely
as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the greatest extent possible.

 

    	12

     

    

 

18.
Amendment. This Agreement may be amended, modified, altered or supplemented only by a written instrument signed by ANEC and Creek
Road.

 

19.
Waiver. No waiver by any Party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed
by the Party so waiving. No waiver by any Party shall operate or be construed as a waiver in respect of any failure, breach, or default
not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that
waiver. No failure to exercise, or delay in exercising, any right, remedy, power, or privilege arising from this Agreement shall operate
or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power, or privilege hereunder preclude
any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.

 

20.
Equitable Remedies. The Parties agree that irreparable damage would occur if any provision of this Agreement were not performed
in accordance with the terms hereof and that the Parties shall be entitled to equitable relief, including injunctive relief or specific
performance of the terms hereof, in addition to any other remedy to which they are entitled at Law or in equity.

 

21.
Assignment. Neither Party may assign any of its rights or delegate any of its obligations hereunder without the prior written
consent of the other Party. Any purported assignment or delegation in violation of this Section shall be null and void. No assignment
or delegation shall relieve the assigning or delegating Party of any of its obligations hereunder.

 

22.
Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective
permitted successors and permitted assigns.

 

23.
No Third-Party Beneficiaries. This Agreement is for the sole benefit of the Parties hereto and their respective successors and
permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person or entity any legal or
equitable right, benefit, or remedy of any nature whatsoever under or by reason of this Agreement.

 

24.
Governing Law. All matters arising out of or relating to this Agreement shall be governed by and construed in accordance with
the internal laws of the State of Louisiana without giving effect to any choice or conflict of law provision or rule (whether of the
State of Louisiana or any other jurisdiction).

 

25.
Submission to Jurisdiction. Any legal suit, action, or proceeding arising out of or relating to this Agreement or the transactions
or activities contemplated hereby shall be instituted exclusively in the United States District Court for the Eastern District of Louisiana.
However, if the United States District Court for the Eastern District of Louisiana lacks jurisdiction, then any legal suit, action, or
proceeding arising out of or relating to this Agreement or the transactions or activities contemplated hereby shall be instituted in
other District Court for the United States of America. If no federal court has jurisdiction, then any legal suit, action, or proceeding
arising out of or relating to this Agreement or the transactions or activities contemplated hereby shall be brought in the state court
located in St. Charles Parish, Louisiana.

 

    	13

     

    

 

26.
Attorneys’ Fees. In the event that any Party institutes any legal suit, action, or proceeding against the other Party arising
out of or relating to this Agreement or the transactions or activities contemplated hereby, the prevailing Party in the suit, action
or proceeding shall be entitled to receive, in addition to all other damages to which it may be entitled, the costs incurred by such
Party in conducting the suit, action, or proceeding, including actual attorneys’ fees and expenses and court costs. For the avoidance
of doubt, this provision shall apply to any dispute regarding defense, indemnity, or hold harmless obligations owed by Creek Road to
ANEC pursuant to Section 12; and ANEC shall be entitled to recover all reasonable attorney fees and costs incurred in successfully pursuing
its rights to defense, indemnity and being held harmless.

 

27.
Transaction Expenses. Creek Road shall bear and pay, without any right of reimbursement from ANEC, all costs, fees, and expenses,
(including ANEC’s attorneys’ fees and costs) incurred by the Parties in connection with the preparation, execution, and delivery
of this Agreement and the transactions contemplated hereby.

 

28.
Representations and Warranties; Limitation of Liability. Each of the Parties represents and warrants to the other Party that as
of the Effective Date:

 

		(a)	no
                                            other person or entity is required to consent to this Agreement as a condition of its validity
                                            or binding effect upon such Party;

 

		(b)	it
                                            is duly organized, validly existing and in good standing under the laws of the State of its
                                            formation;

 

		(c)	it
                                            is duly qualified to do business and is in good standing in every jurisdiction in which such
                                            qualification is required for purposes of this Agreement;

 

		(d)	it
                                            has the full right, corporate power, and authority to enter into this Agreement and to perform
                                            its obligations hereunder;

 

		(e)	the
                                            execution of this Agreement by the individual whose signature is set forth at the end of
                                            this Agreement and the delivery of this Agreement have been duly authorized by all necessary
                                            corporate actions;

 

		(f)	this
                                            Agreement has been executed, and delivered and (assuming due authorization, execution, and
                                            delivery by the each Party) constitutes the legal, valid, and binding obligation of each
                                            Party, enforceable against each Party in accordance with its terms, except as may be limited
                                            by any applicable bankruptcy, insolvency, reorganization, moratorium, or similar Laws and
                                            equitable principles related to or affecting creditors’ rights generally or the effect
                                            of general principles of equity; and

 

    	14

     

    

 

		(g)	TO
                                            THE MAXIMUM EXTENT PERMISSIBLE BY LAW, ANEC DISCLAIMS ANY AND ALL WARRANTIES, WHETHER EXPRESS
                                            OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS
                                            FOR A PARTICULAR PURPOSE. EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES CONTAINED
                                            IN THIS SECTION, (1) NEITHER PARTY TO THIS AGREEMENT, NOR ANY OTHER PERSON ON SUCH PARTY’S
                                            BEHALF, HAS MADE OR MAKES ANY EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY, EITHER ORAL
                                            OR WRITTEN, WHETHER ARISING BY LAW, COURSE OF DEALING, COURSE OF PERFORMANCE, USAGE, TRADE,
                                            OR OTHERWISE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED, AND (2) EACH PARTY ACKNOWLEDGES THAT
                                            IT HAS NOT RELIED UPON ANY REPRESENTATION OR WARRANTY MADE BY THE OTHER PARTY, OR ANY OTHER
                                            PERSON ON SUCH PARTY’S BEHALF, EXCEPT AS SPECIFICALLY PROVIDED IN THIS SECTION OF THIS
                                            AGREEMENT.

 

29.
Relationship of the Parties. Nothing contained in this Agreement shall be construed as creating any agency, partnership, joint
venture or other form of joint enterprise, employment, or fiduciary relationship between the Parties. Neither Party, by virtue of this
Agreement, will have any right, power, or authority to act or create an obligation, express or implied, on behalf of the other Party.
Any persons employed or engaged by either Party in connection with this Agreement shall be such Party’s employees or contractors.

 

30.
Time is of the Essence. Time shall be of the essence in this Agreement.

 

31.
Miscellaneous. The recitals set forth at the beginning of this Agreement shall be deemed to be a part of this Agreement. The headings
set forth at the beginning of each of the Sections of this Agreement are inserted for convenience of reference only and shall not be
deemed to have any legal significance or meaning whatsoever. This Agreement contains the entire understanding of the Parties with respect
to the subject matters covered in this Agreement, and no prior agreements or understandings between the Parties to this Agreement, or
in any way relating to the subject matters covered in this Agreement shall be effective after the Effective Date, whether or not such
agreements or understandings are similar, broader in scope, more narrow in scope or in any other way different from the terms and conditions
of this Agreement. The furnishing of this Agreement shall not constitute an offer and this Agreement shall become effective in accordance
with its terms upon and only upon its execution by and delivery by each of the Parties. Each Party acknowledges that it has had a full
and fair opportunity to review this Agreement with counsel, and that this Agreement is the product of mutual drafting by the Parties.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original of this Agreement, but all of which,
together, shall constitute one and the same instrument. The transmission of a signed counterpart of this Agreement by portable document
format (.pdf) shall have the same force and affect as delivery of an original signed counterpart of this Agreement and shall constitute
valid and effective delivery for all purposes of this Agreement. Notwithstanding anything to the contrary set forth in this Agreement,
this Agreement shall be deemed to be effective as of the Effective Date of the Agreement even though it may be executed and/or delivered
by either or both of the parties to this Agreement on a later or different date.

 

[SIGNATURES
ON THE FOLLOWING PAGE]

 

    	15

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. This Agreement may be executed in counterparts and
may be delivered via pdf.

 

	 	Creek
    Road Mining, Inc.
	 	 	 
	 	By:	/s/
    Scott A. Sheikh
	 	Name:	Scott
    A. Sheikh
	 	Title:	COO
and General Counsel
	 	 	 
	 	American
    Natural Energy Corporation
	 	 	 
	 	By:	/s/Phillip
    C. Egge
	 	Name:	Phillip
C. Egge
	 	Title:	Co-CEO
and COO

 

    	16

     

    

 

EXHIBIT
A

 

SITE

 

 

    	 

     

    

 

EXHIBIT
B

 

INSURANCE
TERMS AND CONDITIONS

 

1.1
During the Term and for a period of one (1) year thereafter, Creek Road shall, at its own expense (including all deductibles, retentions
and premiums), maintain and carry in full force and effect at least the following types and amounts of insurance coverage, subject to
the requirements set forth below:

 

(a)
Commercial general liability with limits no less than $1,000,000.00 for each occurrence and $2,000,000.00 in the aggregate, including
bodily injury and property damage and products and completed operations and advertising liability, which policy will include contractual
liability coverage insuring the activities of Creek Road under this Agreement, and with any watercraft exclusion deleted;

 

(b)
Property Insurance with limits no less than $1,610,000.00;

 

(c)
Protection and Indemnity insurance with limits no less than $1,000,000.00 for each occurrence Form SP23 or equivalent, including coverage
for contractual liability, excess collision, broad form wreck removal and for liabilities arising out of or relating to cargo, master
and crew, and employees of Creek Road and employees of Creek Road’s other contractors, subcontractors and others working for Creek
Road. To be obtained by Creek Road or provided by barge owner. In either case, ANEC should be named as additional insured; and

 

(d)
Umbrella (excess) liability for the coverage in Section 1.1(a), Section 1.1(b), Section 1.1(d) and Section 1.1(e), with limits no less
than $5,000,000.

 

1.2
Creek Road shall ensure that all insurance policies required pursuant to Section 1.1:

 

(a)
be issued by insurance with a Best’s Rating of no less than A-VII;

 

(b)
provide that such insurance carriers give ANEC at least 30 days’ prior written notice of cancellation or non-renewal of policy
coverage, provided that, prior to such cancellation, Creek Road has new insurance policies in place that meet the requirements
of this Exhibit B;

 

    	1

     

    

 

(c)
provide that such insurance be primary insurance and any similar insurance in the name of or for the benefit of ANEC shall be excess
and non- contributory;

 

(d)
name ANEC and all Indemnified Parties (pursuant to Section 12), as additional insureds; and

 

(e)
waive any right of subrogation of the insurers against ANEC and all Indemnified Parties.

 

1.3
Upon the written request of ANEC, Creek Road shall provide ANEC with copies of the certificates of insurance and policy endorsements
for all insurance coverage required by this Exhibit B, and shall not do anything to invalidate such insurance. This Exhibit B shall not
be construed in any manner as waiving, restricting, or limiting the liability of either Party for any obligations imposed under this
Agreement (including but not limited to, any provisions requiring a Party hereto to indemnify, defend, and hold the other harmless under
this Agreement).

 

    	2Exhibit
10.32

 

Terms
and Conditions - Braiins Mining Limited

 

Slush
Pool

 

What
It Is and How (Not) To Use It

 

(Terms
and Conditions)

 

1.
PREAMBLE

 

Welcome
to Slush Pool!

 

We
would like to thank you for your choice of Slush Pool cryptocurrency mining pool. We know that you are eager to go ahead and start mining
with Slush Pool, but we kindly ask you to spare a few minutes and read through these terms governing your rights and obligations.

 

We
value your time, so we promise that we keep the Terms and Conditions as brief as possible. If you like and agree with everything that
you read here, you may then go ahead and start mining.

 

(If
you went ahead and started using our platform and/or started mining with Slush Pool, we will take it that you agree with everything you
have read herein).

 

So,
let’s get into it:

 

2.
PARTIES

 

Can
you introduce yourselves...

 

We
are a commercial company called Braiins Mining Limited, incorporated and existing under the laws of the British Virgin Islands, Company
No. 2038702, with a registered office at Road Town, Tortola, British Virgin Islands.

 

We
are operating Slush Pool - the oldest cryptocurrency mining pool in the world.

 

I
guess, now a little bit about me...

 

When
we refer to you in these Terms and Conditions, we actually refer to anybody, whether individual or legal person, who creates a user account
on our website and mines cryptocurrencies with Slush Pool.

 

It
probably goes without saying, but your legal capacity must not be limited to the extent that could in any way prevent you from mining
virtual currency with Slush Pool or from effectively agreeing to and complying with these Terms and Conditions.

 

    	 

     

    

 

If
you plan to mine cryptocurrencies on behalf of any other person, whether individual or legal person, you must have legal authority to
do so.

 

I
am a returning miner...

 

If
you have mined with Slush Pool before and now plan on coming back, that is great news and we welcome you with open arms, unless your
previous access to Slush Pool has been terminated by us for a breach of rules.

 

If
your previous access has been in fact terminated for a breach of rules, we reserve the right not to open any new user accounts for you
and to terminate any existing user accounts that you may have been able to create in the meantime.

 

3.
SLUSH POOL

 

I
already know what Slush Pool is, but remind me just in case...

 

Slush
Pool is a cryptocurrency mining platform operated by our company that allows the individual miners to pool their computing power to mine
cryptocurrencies more effectively.

 

How
does it work?

 

Mining
of cryptocurrencies is a process, in which miners perform mathematical operations to verify and add transactions in a form of blocks
to the public cryptocurrency ledger (blockchain).

 

To
incentivize miners to mine cryptocurrencies and to ensure that there will be sufficient computing power for the cryptocurrency network
to function, miner who first successfully verifies a block of transactions is rewarded with block reward and transaction fees from the
transactions included in such block.

 

Transaction
fees are the fees that other users of the cryptocurrency network pay to have their transaction verified by miners.

 

The
mining pool allows miners to pool their computing power and then share the received rewards and transaction fees proportionally, so that
the miners are rewarded on a more consistent basis.

 

When
participating in the pool mining, miners must use an appropriate mining software that allows us, the pool operator, to communicate with
them, to allocate unique tasks and to collect outputs.

 

Depending
on the circumstances and on the cryptocurrency being mined we will either (i) just pay you for the collected outputs (basically we pay
for your computing power and then it is up to us, how we use it), or (ii) we will coordinate the mining operations (and basically we
act as a sole miner with a significant amount of computing power) and if we mine a block of cryptocurrency, we then split the reward
including the transaction fees among all the participating miners.

 

In
this way every individual miner mining with Slush Pool has a chance to earn regular rewards corresponding to the amount of its computing
power, even though, if mining alone, it would most likely never mine any block in a very long time.

 

4.
USER ACCOUNT

 

So,
how do I start?

 

That’s
a good question. First, you need to create a user account. So just go ahead and create the user account on our website at htttps://slushpool.com/.

 

    	 

     

    

 

During
the registration procedure we will ask you to tell us your email address and some other identification information and then your account
will be created.

 

We
strongly recommend changing the password frequently to keep your user account secure and we also recommend not to reuse your user account
password in third-party applications.

 

Is
there anything else I should know about the user account?

 

The
user account is dedicated to you and you are solely responsible for all activities that occur on or through your user account, so it
is important that you keep your password and devices used to access the user account secure. You must let us know immediately if you
suspect any unauthorized access to your user account.

 

We
do not support a misuse of any third party information, so when providing us with any information, you agree that the information must
always be true and complete.

 

5.
SUBMITTED CONTENT

 

Anything
interesting about the submitted content?

 

We
trust our customers. Therefore, we expect any information submitted by you within the user account area of our website (including any
information provided in order to create your user account) or in relation therewith to be accurate, true and complete.

 

If
any of the information changes, you should update it as soon as possible to prevent any misunderstandings or problems down the line.

 

Any
content submitted to or through our website or in relation with the mining that belongs to you stays yours (or in legal terms: you retain
ownership of any intellectual property rights that you hold in a submitted content).

 

When
you submit content to or through our website or in relation with the mining, you grant us a worldwide, royalty-free, non-exclusive, perpetual
license (with a right to sublicense) to use the submitted content for the limited purpose of operating, promoting and improving Slush
pool and any other related services. Make sure you have the necessary rights to be able to grant us this license.

 

6.
PERSONAL DATA

 

Are
my personal data safe with you?

 

First
let us assure you that the collection of your personal data (e.g. the data submitted when creating your user account) in connection to
mining with Slush Pool will be as limited as possible.

 

Any
collection, storage and handling of your personal data shall be governed by a separate set of terms on handling the personal data of
our customers (Slush Pool Privacy Policy).

 

7.
SUPPORTED CRYPTOCURRENCIES

 

What
cryptocurrencies can I mine with Slush Pool?

 

Slush
Pool platform is designed primarily to mine the Bitcoin cryptocurrency.

 

We
would like to add a possibility of mining of other cryptocurrencies in the future (and we have even added this functionality for some
cryptocurrencies already) if the technical conditions and the state of Slush Pool development allows.

 

    	 

     

    

 

If
other cryptocurrencies than Bitcoin are mined with Slush Pool, you agree that these Terms and Conditions and all the related terms apply
similarly.

 

8.
MINING

 

I
am all set, let’s talk about the actual mining...

 

Once
you have registered you may at any time start mining. Since you will use a specialized software to mine, it may not be apparent what
is happening in legal terms, so let’s explain.

 

When
you connect your device to Slush Pool and let us know that you would like to start mining, we will assign you a particular computing
power intensive task and you will then use your hardware to perform the assigned task and to communicate to us the solution.

 

We
guarantee that you will either (i) have a guaranteed payment for the computing power provided (more specifically for the provided solutions)
or (ii) if the payment depends on the amount of mined cryptocurrency, the computing power will be always used for cryptocurrency mining.

 

The
mining itself may be performed by us or by a third party of our choice. Similarly, any support and communication services, may be facilitated
by us or may be delegated to a third party.

 

Nevertheless,
in legal terms you will always provide your computing power to us and we will be your partner in solving any problems you may encounter.

 

Please
note, that we may at any time decide not to use your computing power (to refuse it) without having to give a reason.

 

Dos
and Don ́ts of mining with Slush Pool...

 

...always
comply with any laws and regulations.

 

You
agree to comply with any laws and regulations applicable either to you (e.g. laws of the country where you are located) or to Slush Pool
(e.g. laws of British Virgin Islands).

 

...always
take care of your taxes.

 

You
agree that you are responsible for obtaining any necessary information on tax and other similar obligations that you have in relation
with mining cryptocurrencies.

 

We
are responsible neither for obtaining such information for you, nor for compliance with such obligations.

 

...always
use appropriate software and hardware.

 

You
agree to read and follow the rules and procedures published by us in the respective sections of our website (in particular the “Help”
section).

 

You
in particular agree to create the user account on our website, to use the recommended software and hardware and other rules and procedures
described in the respective section of our website.

 

...no
abuse.

 

You
agree not to abuse any of Slush Pool mechanisms, processes, mistakes, bugs or imperfections in programming or errors in the respective
cryptocurrency network to advantage or disadvantage any miners, or to disrupt the operation or the availability of the Slush Pool.

 

By
“abuse” we also mean any attempted hacking or other hostile action, such as block withholding attack, botnet attack etc.
Any hacking or other hostile action against other miners and third persons is also abusive, if its purpose is to advantage or disadvantage
any participating miners or to disrupt the operation or availability of Slush Pool.

 

    	 

     

    

 

...no
botnets, specifically.

 

We
do not like botnets, so please do not use them. Also, note that if you control multiple user accounts, your activities may be considered
as a use of botnet and your access may be suspended until we investigate the issue.

 

9.
REWARD

 

How
much do I make?

 

Depending
on the circumstances and on the cryptocurrency being mined we will either (i) just pay you for the provided computing power or more specifically
for the provided solutions (PPS reward mechanism), or (ii) we will coordinate the mining operations and if we mine a block of cryptocurrency,
we then split the block reward including the transaction fees among all the participating miners.

 

Therefore,
in the second scenario your reward for provided computing power depends on the amount of cryptocurrency that was actually mined while
you were providing your computing power and on so called scoring hashrate at the time of extraction of a cryptocurrency block that is
valid and that is subsequently accepted to the cryptocurrency network.

 

Please,
visit a website (in particular the “Rewards & Payouts” section thereof for more information), where we have published
a detailed algorithm and rules for reward calculation in both scenarios.

 

We
may amend or change the specific algorithm and rules for reward calculation at any time, but we will always notify you before such amendment
or change is effective and such amendment or change won ́t apply to any mining that has taken place before such amendments or changes.

 

What ́s
in it for you?

 

We
will not charge you anything for the access to our platform, however, we will keep a portion of mined coins as a commission (also referred
to as the “pool fee”).

 

The
pool fee amount may vary depending on your circumstances, please, see our website for more information on the pool fee amount.

 

When
will I get paid?

 

Under
the first scenario (PPS) we will confirm the amount of your reward within a time period set forth in the “Rewards & Payouts”
section of our website.

 

Otherwise,
we will confirm the amount of your reward within a reasonable time after we mine a block of respective cryptocurrency.

 

If
there are some technical or other circumstances that prevent us from reward confirmation, we will confirm the reward within a reasonable
time after such circumstances disappear.

 

Once
your reward is confirmed and displayed under your user account your may at any time request us to pay out the confirmed reward or you
may set up an automatic reward payment, so that payment of confirmed reward occurs automatically when the total amount reaches a certain
value.

 

To
avoid any abuse of our systems, we may set a minimum threshold for the payouts. See our website for more information on the payout thresholds.

 

The
reward is considered as duly paid out at the moment of sending it to your address in the respective cryptocurrency network listed in
the respective section of your user account.

 

    	 

     

    

 

In
what cryptocurrency will I get paid?

 

Under
the first scenario (PPS) the reward is paid in Bitcoin, unless stated otherwise in the “Rewards & Payouts” section of
our website.

 

Otherwise,
the reward is paid in a cryptocurrency, mining of which gave a rise to the reward, unless stated otherwise in case of a respective cryptocurrency.

 

What
address will you use?

 

Unless
otherwise agreed, the confirmed reward is always sent to the address listed in the respective section of your user account area.

 

You
confirm that the listed or otherwise communicated cryptocurrency address belongs to you and that you are the recipient of every single
pay out.

 

Who
will pay the transaction fees?

 

In
default we bear any transaction fees related to the payout of your reward and do not charge any fees for processing the payout. However,
we may under some circumstances (the payout value is too low, the transaction fees are too high) set out different rules on our website.

 

See
the “Rewards & Payouts” section thereof for more information.

 

What
about forks?

 

In
the event of so called fork, that is in case the mined block is not accepted to the main blockchain of cryptocurrency (so called orphaned
block), you are not entitled to any reward or reimbursement of any costs incurred in relation to mining the particular block.

 

In
case of so-called hard fork, the is in case the cryptocurrency blockchain is divided into two chains to create new cryptocurrency, you
are not entitled to any so-called forked coins of the new cryptocurrency.

 

Can
a breach of rules affect my reward?

 

First,
do not breach the rules. But since you have asked, then the answer is yes, it can.

 

We
reserve the right to penalize any breach of these Terms and Conditions, which did or could advantage or disadvantage any miner in mining
on Slush Pool (in particular in the reward determination) or which could influence the operation or availability of Slush Pool, by a
penalty up to the amount of the reward that you would have been otherwise entitled to according to these Terms and Conditions.

 

In
such case we shall not confirm the respective portion of the reward and/or shall nullify the prospective portion of the confirmed reward
and delete it from the records within the user account and/or may claim a refund of the reward that has already been paid.

 

This
is without prejudice to any claim against you for damages in excess to the above-mentioned penalty. This is also without prejudice to
our right to delete the user account and terminate the mutual relationship for a breach of the rules.

 

What
if I did everything right and you still have not mined any blocks? What about my reward then?

 

As
mentioned above, depending on the circumstances and on the cryptocurrency being mined we will either (i) just pay you for the provided
computing power (PPS reward mechanism), or (ii) we will coordinate the mining operations and if we mine a block of cryptocurrency, we
then split the block reward including the transaction fees among all the participating miners.

 

In
the first scenario, your reward is pretty much guaranteed, so if you do everything right, you may be sure that will get paid by us.

 

    	 

     

    

 

For
the second scenario, please sit back and listen, because we cannot stress this enough:

 

The
result of the mining is dependent mainly on luck and it cannot be foreseen. Therefore, the amount of your reward is variable, there may
even be no reward at all under some circumstances, and the reward is in no case fully or partially guaranteed by us.

 

10.
AVAILABILITY

 

You
are always up, right?

 

We
always attempt to provide continuous uninterrupted operation of Slush Pool platform, so you can access it and mine the cryptocurrencies
at any time.

 

However,
due to maintenance, repairs or exceptional outages there may be occasions when Slush Pool will not be available and therefore we cannot
always guarantee a completely uninterrupted (100 %) availability.

 

If
it is unavailable due to a planned temporary maintenance shutdown, we will attempt to inform you in advance. If, due to the nature of
unavailability we, could not inform you in advance, we at least attempt to promptly resolve any issues and make it available again.

 

Please,
be aware that you must always set up your hardware in a way that allows it to reconnect to the Slush Pool automatically when it becomes
available after the shutdown or outage.

 

What
if you decide to shut Slush Pool down completely?

 

We
work in a field of new technologies and you never know, what will happen a month, year or ten years from now. Therefore, we cannot rule
out that we will at some point discontinue Slush Pool completely.

 

In
that event, we will give you at least thirty (30) days prior notice. After the end of this notice period our relationship will be terminated
and you will not be able to mine with Slush Pool and to access your user account anymore.

 

11.
LIABILITY AND WARRANTY LIMITATION

 

So
where are the legal disclaimers?

 

You
have just found them, so let’s get it over with.

 

Please,
be aware that we do not give you ownership of any intellectual property rights in Slush Pool or any other products or services associated
therewith, unless we say so explicitly. You are solely entitled to access and use the Slush Pool platform for join cryptocurrency mining
(that means you are entitled to provide us with computing power and to receive a prospective portion of a reward).

 

We
operate Slush Pool using a reasonable level of skill and care and we hope that you will enjoy using it; however, be aware that the entire
platform is still offered to you on “as is” and “where-available” basis and, therefore, we expressly disclaim
any warranties, express or implied, relating thereto.

 

We
shall not under any circumstances be held liable to you for any direct, indirect, special, consequential, punitive or any other damages
and costs including, but not limited to, loss of profit, loss of revenue or loss of business opportunity arising out of or in connection
with your access and use or inability to access and use Slush Pool.

 

Under
certain laws it may not be possible to disclaim our liability and warranties completely. For such cases you hereby waive to the fullest
extent permissible under any such law any claims for damages that you may have against us in relation with your use of Slush Pool or
inability to access it.

 

    	 

     

    

 

You
specifically waive the damages (loss of earnings) incurred as a result of non-fulfillment of your expectations regarding the amount of
reward for the provided computing power, a complete failure to provide a reward, damages to your software or hardware and also damages
incurred in relation to any loss of data on the hardware and software components.

 

If
the warranties and liabilities disclaimers above are found void or invalid or otherwise unenforceable, you agree that our total liability
for any claims arising out of these Terms and Conditions or in relation thereto are limited to the amount of pool fee earned by us directly
in association with the computing power provided by you in the period of six (6) months immediately preceding the event that gave rise
to your claim.

 

Some
reminders, so you are not surprised later...

 

...electricity
and heat.

 

The
mining process is very demanding on the computing power of your hardware, which can cause an increase in electricity consumption and
accelerate a wear on some of the hardware components.

 

...software
and hardware setup.

 

It
is up to you to set up your software and hardware including any individual components thereof (meaning we cannot be held liable for any
damages incurred as a result of incorrect or incomplete setup).

 

...we
are not a wallet, do not postpone your payouts.

 

Note,
that we are not a cryptocurrency wallet intended to store your cryptocurrency coins for extended periods of time.

 

Although
we constantly attempt to improve the security of the Slush Pool against hacking and other similar attacks, these attacks regularly occur
and possible successful attack may lead to the loss of certain amount (or even all) of mined cryptocurrency means gathered in our wallet,
which will be irreversible.

 

You
agree to minimize the risk by requesting regular pay outs of the confirmed reward and you agree to provide any cooperation necessary.

 

...list
a correct address.

 

As
you may know, the transactions in cryptocurrency network, unlike wire transfers, are irreversible. So always give us correct cryptocurrency
address. If you give us incorrect address and we have already sent the reward to that address, you are most likely out of luck and your
reward will be gone.

 

12.
TERMINATION

 

I
like Slush Pool so far, but what if I change my mind?

 

We
will always be sorry to see you go, but we will respect your decision. We want happy customers and it is not in our interest to force
onto you a service that you do not like or do no longer wish to use.

 

Therefore,
you may terminate the legal contract established by these Terms and Conditions at any time by deleting your user account (there is an
option to do that in the user account interface). However, please, be careful, since after your account is deleted, you lose the right
to claim a payment of any unpaid confirmed reward for the computing power that you have provided under the user account.

 

Please
be aware that upon termination we may delete your user account and any data relating to your reward and your use of our platform without
any further notice without any possibility of recovery.

 

    	 

     

    

 

Can
you terminate our relationship without my consent?

 

Our
relationships with our customers last and we take pride in that fact.

 

However,
we may have to and are entitled to suspend or permanently disable your access to Slush Pool if you materially and/or repeatedly breach
these Terms and Conditions, any other applicable terms (such as the Privacy Policy) or if you violate any provision of applicable laws
in relation thereto.

 

What
if I want to take a break from mining?

 

That ́s
fine you and your miners have worked hard and you deserve a break. Just be sure to log into your user account once in a while, because
the accounts that have not been logged into for more than a year (twelve consecutive months) are automatically considered as inactive.

 

The
inactive user account may be deleted at any time and after deletion you waive your claim to any data, information stored under your user
account as well as to any unpaid rewards associated with such user account.

 

What
about the unpaid rewards?

 

We
want to treat you fairly, unless your account is deleted because you have breached the rules or due to inactivity as described above,
you do not lose the right to your unpaid reward. In such case we will always ask you to provide current wallet address, so we can send
you any unpaid rewards. If you fail to provide the address within thirty (30) days after the notification, you will have waived your
claims to the unpaid reward.

 

We
may at any time set off any unpaid reward against any claims that we have against you for example for the breach of any rules applicable
to your mining with Slush Pool.

 

What
if I keep mining after my account is deleted?

 

In
case of deletion of the user account you waive all of your claims against us for any reward for computing power provided thereafter.

 

If
you still choose to continue to mine, you are not entitled to any additional reward.

 

13.
NOTICES

 

How
do I get in touch with you? And what if you need to contact me?

 

You
can contact us electronically via tools available on our website or via the email address help@slushpool.com. Your message is considered
as delivered when we confirm its delivery to you, which we always attempt to do promptly.

 

We
will not bother you too much, but occasionally we may have to contact you. In that event we will use either the email address listed
under your user account or by a notice available to you upon logging into your user account.

 

We
will occasionally send you an email with commercial announcements; you may at any time, without having to give a reason, opt out of these
communications.

 

14.
CONFIDENTIALITY

 

It
all sounds so great, I will tell about Slush Pool everybody I know...

 

Great,
we appreciate it, but please be discrete.

 

Sometimes
we share with you information that is not meant to be public. For that reason we must ask you to keep confidential (not to disclose to
third parties) the details of our mutual legal relationship (such as pricing and payment details or details about any tailored services),
as well as any other information that you have learnt from us and that was marked, accompanied, or supported by documents designated
as “confidential” or equivalent, or that was identified so by us, or should be reasonably known to you to be confidential.

 

    	 

     

    

 

The
duty of confidentiality expires three (3) years from the date of disclosure. The obligation to protect technical information about our
current products and services and all information about possible unreleased products or services never expires.

 

This
applies to everything I know about Slush Pool?

 

Of
course this does not apply to information which was already in your possession before you received it from us; is or becomes publicly
available through no fault of yours; is rightfully received by you from a third party who has no duty of confidentiality; or is independently
developed by you without a breach of the confidentiality obligations hereunder.

 

What
about my staff?

 

You
may disclose confidential information to your directors, officers, employees, as well as your contractors, advisors, and agents, so long
as those individuals have a need to know in their work for you and are bound by obligations of confidentiality at least as restrictive
as those imposed on you in these Terms and Conditions. You are fully liable for any breach of this obligation by the aforementioned third
parties.

 

Sometimes
you may be required by a government body or court of law to disclose confidential information. That’s fine by us, but we must ask
you, to the extent permitted by law, to give us reasonable advance notice so that we may contest the disclosure or seek a protective
order.

 

15.
APPLICABLE LAW

 

What
laws do apply?

 

The
laws of the British Virgin Islands, without regard to principles of conflict of laws, will govern these Terms and Conditions and any
dispute of any sort that might arise between you and us in connection herewith.

 

16.
DISPUTE RESOLUTION

 

What
if we argue?

 

We
always operate in a customer-friendly manner. We try to solve any issues peacefully and ask you to do the same. Therefore, you agree
to notify us of any disputes arising out of or in connection with these Terms and Conditions and you agree that you will always attempt
an out-of-court dispute resolution before you bring the dispute before the courts.

 

However,
sometimes out-of-court dispute resolution is just not possible. In that event, any dispute relating in any way to these Terms and Conditions
shall be decided with final effect before the courts of the British Virgin Islands.

 

Should
you violate or threaten to violate our intellectual property rights in any manner, we may seek an injunction or other appropriate relief
in any court of our choice. You consent to exclusive jurisdiction and venue in such courts.

 

    	 

     

    

 

17.
MISCELLANEOUS

 

Some
necessary boilerplates...

 

...severability

 

If
any provision of this contract is held by any court or other competent authority to be invalid or unenforceable in whole or in part,
this contract shall continue to be valid as to its other provisions and the remainder of the affected provision, unless it can be concluded
from the circumstances that, in the absence of the provision found to be null and void, the Parties would not have concluded this contract.

 

The
Parties shall use all reasonable efforts to replace all provisions found to be null and void by provisions that are valid under the applicable
law and come closest to their original intention.

 

...entire
agreement

 

These
Terms and Conditions set out the entire agreement between you and us. Neither party has entered into this contract in reliance upon any
representation, warranty or undertaking of the other party that is not expressly set out or referred to in this contract.

 

...no
assignment

 

You
may not assign or transfer any of your rights or obligations assumed under these Terms and Conditions or in any other way related hereto
without our prior written consent.

 

...operator
change (contract assignment)

 

You
agree to any future change of the Slush Pool platform operator (assignment of the contract). In case of such change we will always notify
you.

 

...no
waiver

 

If
you do not comply with these Terms and Conditions, and we do not take action right away, this doesn’t mean that we are waiving
any rights that we may have (such as taking action in the future).

 

...survival

 

All
the provisions of these Terms and Conditions that by their nature extend beyond the termination of mutual legal relationship, including
but not limited to dispute resolution and applicable law clauses, shall survive the termination of our mutual legal relationship.

 

...languages

 

These
General Terms and Conditions and all the related documents may be translated into multiple language versions. In case of any discrepancies
between the individual language versions the English language version shall always control.

 

I
did not like (something) I have read above.

 

We
always attempt to make legal documents as brief and user friendly as possible, but we cannot completely make do without them.

 

So
even though we regret it, if you do not agree with any part of these Terms and Conditions or if you have any reservations, you may not
mine with Slush Pool and we must ask you to leave our platform immediately (but please, delete the user account first).

 

I
found out there is a conflict between this document and the terms I found elsewhere.

 

If
there is such a conflict, please let us know immediately, so that we can attend to it and improve our documentation. Meanwhile, these
Terms and Conditions will control for that conflict.

 

So,
is that it? May I go ahead and start mining with Slush Pool?

 

Just
one last thing; we may change or amend these Terms and Conditions or an additional terms that apply to Slush Pool (such as Privacy Policy)
from time to time, and if we do so, we will have to ask you to read through them and agree to them again.

 

We
realize it’s inconvenient for you, so we promise not to do it too often.

 

So,
that is all from us; if you like everything you have read so far and agree to it, you are free to go ahead and enjoy Slush Pool!

 

In
Road Town, on 8th March 2021

Braiins
Mining Limited

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