Document:

NON-FIXED
PRICE

 

SALES AND
PURCHASE AGREEMENT BETWEEN

Bitmain
Technologies Limited (“Bitmain”)

 

AND

 

CleanSpark
Inc. (“Purchaser”)

 

 

 

 

 

 

 

 

 

 

    	 		 

    	 

    

 

	1.
                   Definitions and Interpretations	3
	2.               
    Sales of Product(s)	5
	3.               
    Prices and Terms of Payment	6
	4.               
    Product Discount	7
	5.               
    Shipping of Product(s)	7
	6.               
    Customs	9
	7.               
    Warranty	10
	8.               
    Representations and Warranties	11
	9.               
    Indemnification and Limitation of Liability	13
	10.           
    Distribution	13
	11.           
    Intellectual Property Rights	14
	12.           
    Confidentiality and Communications	14
	13.           
    Term of this Agreement	15
	14.           
    Contact Information	15
	15.           
    Compliance with Laws and Regulations	15
	16.           
    Force Majeure	17
	17.           
    Entire Agreement and Amendment	17
	18.           
    Assignment	17
	19.           
    Severability	17
	20.           
    Personal Data	17
	21.           
    Conflict with the Terms and Conditions	18
	22.           
    Governing Law and Dispute Resolution	18
	23.           
    Waiver	18
	24.           
    Counterparts and Electronic Signatures	18
	25.           
    Further Assurance	19
	26.           
    Third Party Rights	19
	27.           
    Liquidated Damages Not Penalty	19

 

    	 	2	 

    	 

    

 

This
non-fixed price sales and purchase agreement (this “Agreement”)
is made on April 12, 2021 by and between
Bitmain Technologies Limited
(“Bitmain”) (Company number: 2024301), with its registered
office at Unit A1 of Unit A, 11th Floor,
Success Commercial Building, 245-251 Hennessy Road, Hong Kong,
and CleanSpark Inc. (the “Purchaser”) (Company ID:
87-0449945), with its principal place of business
at 1185 South 1800 West, Suite 3 Woods
Cross Utah 84087.

 

Bitmain
and the Purchaser shall hereinafter collectively be
referred to as the “Parties”,
and individually as a “Party”.

 

Whereas:

 

		1.	Purchaser fully understands
the market risks, the price-setting principles
and the market fluctuations relating to the Products sold under this Agreement.

 

		2.	Purchaser has purchased the
Products through the website of
Bitmain (i.e., https://shop.bitmain.com/, similarly
hereinafter) for many times, and is familiar
with the purchase order processes of Bitmain’s
website.

 

		3.	Based on the above
consensus, the Purchaser is willing to purchase
and Bitmain is willing to supply cryptocurrency mining hardware
and other equipment in accordance
with the terms and conditions of this Agreement.

 

The Parties
hereto agree as follows:

 

		1.	Definitions and Interpretations

 

The following terms,
as used herein, have the following meanings:

 

“Affiliate”
means, with respect to any Person,
any other Person directly or indirectly Controlling,
Controlled by, or under common
Control with such Person; “Person” means any individual, corporation,
partnership, limited partnership, proprietorship, association,
limited liability company, firm, trust,
estate or other enterprise or entity
(whether or not having separate legal personality);
and “Control” means the power or authority, whether
exercised or not, to direct the business,
management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities,
by contract or otherwise,
provided that such power or authority shall conclusively be
presumed to exist upon possession of beneficial
ownership or power to direct the vote of more than fifty percent (50%)
of the votes entitled to be cast at a
meeting of the members or shareholders
of such Person or power to control the
composition of a majority of the board of directors
of such Person. The terms “Controlled”
and “Controlling” have meanings correlative to the
foregoing.

 

“Applicable
Law” means any treaty, law,
decree, order, regulation,
decision, statute, ordinance, rule, directive, code
or other document that has legal force under any
system of law, including,
without limitation, local law, law of
any other state or part
thereof or international law, and
which creates or purports to create
any requirement or
rule that may

 

    	 	3	 

    	 

    

 

affect,
restrict, prohibit or expressly allow
the terms of this Agreement or any activity contemplated
or carried out under this Agreement.

 

“Bank
Account” means the bank account information of Bitmain
provided in Appendix A of this Agreement.

 

“Force
Majeure” means in respect of either
Party, any event
or occurrence whatsoever beyond the reasonable
control of that Party, which delays, prevents
or hinders that Party from performing
any obligation imposed upon that Party
under this Agreement, including to the extent
such event or occurrence shall delay,
prevent or hinder such Party from
performing such obligation, war (declared or undeclared),
terrorist activities, acts of sabotage, blockade,
fire, lightning, acts of god, national
strikes, riots, insurrections, civil commotions, quarantine restrictions, epidemics,
earthquakes, landslides, avalanches, floods, hurricanes, explosions and
regulatory and administrative or similar action
or delays to take actions of any governmental
authority.

 

“Intellectual
Property Rights” means any and
all intellectual property rights, including but not limited to those concerning
inventions, patents, utility models, registered designs and models, engineering
or production materials, drawings, trademarks,
service marks, domain names, applications
for any of the foregoing (and the rights to apply for any of the foregoing),
proprietary or business sensitive information and/or technical
know-how, copyright, authorship, whether
registered or not, and any
neighbor rights.

 

“Order”
means the Purchaser’s request to Bitmain
for certain Product(s) in accordance
with this Agreement.

 

“Product(s)”
means the merchandise that Bitmain
will provide to the Purchaser in accordance
with this Agreement.

 

“Total
Purchase Price” means the aggregate amount
payable by the Purchaser as set
out in Appendix A of this Agreement.

 

“Warranty
Period” means the period of
time that the Product(s) are covered
by the warranty granted by
Bitmain or its Affiliates in accordance
with Clause 7 of this Agreement.

 

“Warranty
Start Date” means the date on which
the Product(s) are delivered to the carrier.
Interpretations:

		i)	Words importing the singular
include the plural and vice versa where
the context so requires.

 

		ii)	The headings in this Agreement
are for convenience only and shall not be taken into consideration
in the interpretation or construction
of this Agreement.

 

		iii)	References to Clauses
and Appendix(es) are references to Clauses and Appendix(es) of this Agreement.

 

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		iv)	Unless specifically stated
otherwise, all references to days shall
mean calendar days.

 

		v)	Any reference to a code,
law, statute, statutory provision, statutory instrument, order,
regulation or other instrument of similar effect
shall include any re-enactment or amendment
thereof for the time being in force.

 

		2.	Sales of Product(s)

 

Bitmain
will provide the Product(s) set forth in Appendix A (attached
hereto as part of this Agreement)
to the Purchaser in accordance with provisions of Clause 2, Clause 3, Clause 4, Clause
5 and Appendix A of this Agreement, and
the Purchaser shall make payment in accordance
with the terms specified in this Agreement.

 

		2.1.	Both Parties agree that the
Product(s) shall be sold in accordance with
the following steps:

 

		(i)	The Purchaser shall place Order through
Bitmain’s website or through other methods accepted
by Bitmain, and such Order shall constitute
an irrevocable offer to purchase specific Product(s)
from Bitmain.

 

		(ii)	After receiving the Order,
Bitmain will send an order receipt confirmation
email to the Purchaser. The Purchaser’s
Order will be valid for a period
of twenty-four (24) hours after its placement,
and upon expiration of such period, Bitmain
will have the right to cancel the Order
at its sole discretion if the Purchaser fails to pay
the down payment in accordance with Appendix
A of this Agreement.

 

		(iii)	The Purchaser shall pay the
Total Purchase Price in accordance
with Appendix A of this Agreement.

 

		(iv)	Upon receipt of the Total
Purchase Price, Bitmain will provide a payment receipt
to the Purchaser.

 

		(v)	Bitmain will send
a shipping confirmation to the Purchaser after
it has delivered the Product(s)
to the carrier, and the Order
shall be deemed accepted by Bitmain
upon Bitmain’s issuance of the shipping confirmation.

 

		2.2.	Both Parties acknowledge and agree
that the order receipt confirmation and
the payment receipt shall not constitute nor be construed
as Bitmain’s acceptance of
the Purchaser’s Order, but mere
acknowledgement of the receipt of the Order
and the Total Purchase Price.

 

		2.3.	Both Parties acknowledge and
agree that in case of product unavailability,
Bitmain shall have the right to cancel
the Order after it has issued the order
receipt confirmation, the payment receipt
or the shipping confirmation without any penalty or liability.

 

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		2.4.	The Purchaser acknowledges and
confirms that the Order is irrevocable
and cannot be cancelled by
the Purchaser, and that the Product(s)
ordered are neither returnable nor refundable.
All sums paid by the Purchaser
to Bitmain shall not be subject to any
abatement, set-off, claim, counterclaim,
adjustment, reduction, or defense for any
reason. Down payment and payment of
Total Purchase Price are
not refundable, save as otherwise mutually agreed
by the Parties.

 

		3.	Prices and Terms of Payment

 

		3.1	The Total Purchase
Price (inclusive of any tax payable)
shall be paid in accordance with the payment
schedule set forth in Appendix B of this Agreement.

 

		3.2	In the event
that the Purchaser fails to fully settle the respective
percentage of the Total Purchase
Price before the prescribed deadlines and
fails to make a written request to Bitmain
no less than five (5) business days prior to the prescribed deadline
and obtain Bitmain’s written consent, Bitmain shall be entitled to terminate
this Agreement and the Purchase shall
be liable for a reasonable
liquidated damage (not a penalty) of
20% of the purchase price of such batch
of Products. If there are any
remaining balance after deducting the liquidated
damage, such remaining balance shall be refunded
to the Purchaser free of any interest.
If the Purchaser fails to pay the down
payment on a timely basis and Bitmain has arranged
production or procurement, Bitmain shall be entitled
to request the Purchaser
to be responsible for the loss related to such
production or procurement.

 

		3.3	The Total Purchase
Price set forth in this Agreement is merely
an estimate of the price and not the actual
price. The actual price will be determined
one month before the current batch is
shipped and with reference to the market
circumstances, provided that the actual price shall
not be higher than the estimated price.

 

		3.4	Upon receipt of notification
of the actual price provided by Bitmain,
the Purchaser shall be entitled to three
options:

		(i)	continue to perform
the Order of the current batch of the
Product(s) with the original rated hashrate
and pay the remaining amount at the actual price; or

		(ii)	request Bitmain to increase
the rated hashrate in equivalent to the difference
in price. Under this circumstance, Bitmain shall
have the right to negotiate with the
Purchaser for the amount of the additional
rated hashrate based on its then inventory;
or

		(iii)	partially or wholly cancel the Order
of the current batch of Product(s). Under
this circumstance, the Purchaser shall
not claim any refund from Bitmain. If
the Purchaser has made payments and there
is remaining balance, such remaining balance
shall be credited to the balance of the Purchaser
and its affiliates.

Furthermore,
the Purchaser shall confirm in writing the result
of its exercise of the options under this Clause
within two (2) days after Bitmain provides the Purchaser
with the actual price, and if it is overdue
and no agreement is reached between
the

 

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Parties,
the Purchaser shall be deemed to have
voluntarily and irrevocably waived its
option under this Clause and the Parties
shall continue to perform the Order of the current
batch of Product(s) with the original rated hashrate
and the Purchaser shall pay the remaining amount at
the actual price.

 

		3.5	The Parties understand and
agree that the applicable prices of
the Product(s) are inclusive of applicable bank transaction fee, but are
exclusive of any and all applicable import duties,
taxes and governmental charges. The Purchaser
shall pay or reimburse Bitmain
for all taxes levied on or assessed against
the amounts payable hereunder. If any
payment is subject to withholding,
the Purchaser shall pay such additional amounts
as necessary, to ensure that Bitmain
receives the full amount it would have received had payment
not been subject to such withholding.

		4.	Product Discount

 

Based
on the sales results and sales strategy,
Bitmain is willing to offer the following
discount as set forth in clause 4.1:

 

		4.1.	With respect
of the signing of this Agreement, Bitmain offers
the following discount to the Purchaser:

 

		4.1.1.	The Products under this Agreement
consists of twelve (12) batches and the discount amount
of each batch shall be calculated separately.

 

		4.1.2.	Bitmain may provide difference
discounts to the Purchaser based on the actual
amount of the prepayment and the payment
time.

 

Discount
Amount = Amount of prepayment * 1% * Number
of months prepaid. The amount of prepayment
shall be calculated at the end
of each month. The number of months prepaid
shall be calculated from the month of payment
without counting the month of delivery.
For clarification, the payment date shall
be the date as evidenced in the remittance
copy of such payment, and the discount term
shall be calculated when the respective
amounts under this Agreement have been
received by Bitmain in full and
without further consideration of the remaining
amount. Payment schedules may be
further adjusted in accordance with the
actual situations.

 

		4.1.3.	If the Purchaser
fails to make the payments on time, the discount applicable
to such batch shall be cancelled.

4.2.       No
discount will be offered by
Bitmain to the Purchaser.

 

		5.	Shipping of Product(s)

 

		5.1.	Bitmain shall deliver the
Products in accordance with the shipping
schedule to the first carrier or the carrier
designated by the Purchaser.

 

		5.2.	Subject to the limitations
stated in Appendix A, the terms
of delivery of the Product(s) shall be CIP (carriage
and insurance paid to (named place of
destination) according to Incoterms 2010)
to the place of delivery designated by the Purchaser.
Once the

 

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Product(s)
have been delivered to the carrier, Bitmain
shall have fulfilled its obligation to supply the Product(s)
to the Purchaser, and the title and
risk of loss or damage to the Product(s) shall
pass to the Purchaser.

 

		5.3.	In the event of any
discrepancy between this Agreement and
Bitmain’s cargo insurance policy
regarding the insurance coverage, the then effective
Bitmain cargo insurance policy shall prevail, and Bitmain shall be required
to provide the then effective insurance coverage
to the Purchaser.

 

		5.4.	If Bitmain
fails to deliver the Products after
thirty (30) days after the prescribed deadline,
the Purchaser shall be entitled to cancel
the Order of such batch of
Products and request Bitmain to refund
the price of such undelivered batch of
Products together with an interest at
0.0333% per day for the period from the
next day of each payment of the price
of such batch of
Products to the date immediately prior to the request.
In the event that the Purchaser does not
cancel the Order of the undelivered
batch of Products and requests Bitmain to perform its delivery obligation,
Bitmain shall continue to perform its
delivery obligation and compensate the
Purchaser in accordance with Clause 5.5
of this Agreement.

 

		5.5.	If Bitmain
postpones the shipping schedule of the Products
and the Purchaser does not cancel
the Order, Bitmain shall make a compensation
to the Purchaser on daily basis, the
amount of which shall equal to 0.0333%
of the price of such undelivered batch
of Products, which compensation shall
be made in the form of delivery of more rated hashrate. Amount less
than one unit of Product shall be credited
to the balance of the Purchaser in the user
system on Bitmain’s official website, which shall
be viewable by the Purchaser.

 

		5.6.	There are twelve (12) batches
of Products under this Agreement and each
batch shall constitute independent legal obligations of and
shall be performed separately by
the Parties. The delay of a particular
batch shall not constitute waiver of
the payment obligation of the Purchaser
in respect of other batches. The Purchaser
shall not be entitled to terminate
this Agreement solely on the ground of
delay of delivery of a single batch of
Products.

 

		5.7.	The purchaser shall choose the following
shipping method:

 

☑Shipping
by Bitmain via Fedex/DHL/UPS/other
logistics company;□Self-pick

 

Note:
Logistics costs shall be borne by the Purchaser.
Bitmain may collect payments on behalf
of the services providers and issue services
invoices if the Purchaser requests Bitmain
to send the Products.

 

		5.8.	Bitmain shall not be responsible
for any delivery delay caused by the Purchaser
or any third party, including but not limited
to the carrier, the customs, and the import
brokers, nor shall it be liable for damages,
whether direct, indirect, incidental, consequential,
or otherwise, for any failure,
delay or error in delivery of
any Product(s) for any reason
whatsoever.

 

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		5.9.	Bitmain shall not be responsible
and the Purchaser shall be fully and
exclusively responsible for any loss of
Product(s), personal injury, property
damage, other damage or liability caused
by the Product(s) or the transportation
of the Product(s) either to the Purchaser
or any third party, or theft of the Product(s)
during transportation from Bitmain to the Purchaser.

 

		5.10.	Bitmain has the right
to discontinue the sale of the Product(s) and to make changes
to its Product(s) at any time, without
prior approval from or notice to the
Purchaser.

 

		5.11.	If the Product(s) is rejected
and/or returned back to Bitmain because of
any reason and regardless of the cause of such
delivery failure, the Purchaser shall be
solely and exclusively liable for and
shall defend, fully indemnify and hold
harmless Bitmain against any and all related
expenses, fees, charges and costs incurred,
arising out of or incidental to such
rejection and/or return (the “Return Expense”). Furthermore, if
the Purchaser would like to ask for Bitmain’s
assistance in redelivering such Product(s) or
assist in any other manner, and
if Bitmain at its sole discretion decides
to provide this assistance, then in addition
to the Return Expense, the Purchaser
shall also pay Bitmain
an administrative fee in accordance with Bitmain’s then applicable
internal policy.

 

		5.12.	If the Purchaser
fails to provide Bitmain with the delivery place or the delivery place provided
by the Purchaser is a false address or
does not exist, or the Purchaser reject to accept
the Products, any related
costs occurred (including storage costs, warehousing charge
and labor costs) shall be borne by
the Purchaser. Bitmain may issue the Purchaser
a notice of self-pick-up and ask the
Purchaser to pick up the Products itself. Bitmain
shall be deemed to have completed the delivery obligation
under this Agreement after two (2) business
days following the issue of the self-pick- up notice. After 30 days of the
self-pick-up notice, the Purchaser shall be
entitled to deal with the Products in
any manner as it deems appropriate.

 

		5.13.	The Purchaser shall inspect
the Products within 2 days (the “Acceptance
Time”) after receiving the Products
(the date of signature on the carrier’s
delivery voucher shall be the date of
receipt), if the Purchaser does not raise
any written objection within the agreed
Acceptance Time, the Products delivered
by Bitmain shall be deemed
to be in full compliance with the provisions
of this Agreement.

 

		6.	Customs

 

		6.1.	Bitmain shall obtain in due
time and maintain throughout the term
of this Agreement (if applicable), any
and all approvals, permits, authorizations,
licenses and clearances for the export of the Product(s) that are required
to be obtained by Bitmain or the carrier
under Applicable Laws.

 

		6.2.	The Purchaser shall obtain
in due time and maintain throughout the
term of this Agreement (if applicable), any and
all approvals, permits, authorizations, licenses and clearances required for
the import of the Product(s) to the country of delivery as indicated in the shipping
information, that are required to be obtained by
the

 

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Purchaser
or the carrier under Applicable
Laws, and shall be responsible
for any and all additional fees, expenses and
charges in relation to the import of the Product(s).

 

		7.	Warranty

 

		7.1.	The Warranty Period shall start
on the Warranty Start Date and end on
the 365th day after
the Warranty Start Date. During the Warranty
Period, the Purchaser’s sole and
exclusive remedy, and Bitmain’s entire
liability, will be to repair or replace,
at Bitmain’s option, the defective part/component of the Product(s)
or the defective Product(s) at no charge
to the Purchaser. If the Purchaser requires Bitmain
to provide any warranty services, the Purchaser
shall create a maintenance order on Bitmain’s website
during the Warranty Period (the time of
creation of the maintenance order shall
be determined by the display time of such
order on Bitmain’s website) and send the Product
to the place designated by Bitmain
within the time limit required by Bitmain.
Otherwise, Bitmain shall be entitled
to refuse to provide the warranty service.

 

		7.2.	The Parties acknowledge and
agree that the warranty provided by Bitmain
as stated in the preceding paragraph does
not apply to the following:

 

		(i)	normal wear and tear;

 

		(ii)	damage resulting from accident, abuse,
misuse, neglect, improper handling or improper
installation;

 

		(iii)	damage or loss of the Product(s)
caused by undue physical
or electrical stress, including but not limited to moisture,
corrosive environments, high voltage surges, extreme temperatures, shipping, or abnormal
working conditions;

 

		(iv)	damage or loss of the Product(s)
caused by acts of nature
including, but not limited to, floods, storms, fires, and earthquakes;

 

		(v)	damage caused by
operator error, or non-compliance with
instructions as set out in accompanying
documentation;

 

		(vi)	alterations by
persons other than Bitmain, associated
partners or authorized service facilities;

 

		(vii)	Product(s), on which
the original software has been replaced
or modified by persons
other than Bitmain, associated partners or authorized
service facilities;

 

		(viii)	counterfeit products;

 

		(ix)	damage or loss of data due to
interoperability with current and/or future versions
of operating system, software and/or hardware;

 

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		(x)	damage or loss of data caused
by improper usage and behavior which is
not recommended and/or permitted in the product
documentation;

 

		(xi)	failure of the Product(s)
caused by usage of products not
supplied by Bitmain; and

 

		(xii)	hash boards or chips are burnt.

 

In
case the warranty is voided, Bitmain
may, at its sole discretion,
provide repair service to the Purchaser,
and the Purchaser shall bear all
related expenses and costs.

 

		7.3.	Notwithstanding anything to the
contrary herein, the Purchaser acknowledges
and agrees that the Product(s) provided by
Bitmain do not guarantee any
cryptocurrency mining time and, Bitmain shall not be liable
for any cryptocurrency mining time loss or cryptocurrency
mining revenue loss that are caused by
downtime of any part/component of the
Product(s). Bitmain does not warrant
that the Product(s) will meet the Purchaser’s
requirements or the Product(s) will be uninterrupted
or error free. Except as provided in Clause 7.1 of this Agreement,
Bitmain makes no warranties to
the Purchaser with respect to the Product(s),
and no warranties of any kind, whether
written, oral, express, implied or statutory,
including warranties of merchantability,
fitness for a particular purpose or non-infringement
or arising from course of dealing or usage
in trade shall apply.

 

		7.4.	In the event
of any ambiguity or discrepancy between
this Clause 7 of this Agreement and Bitmain’s After-sales Service Policy from
time to time, it is intended that the After-sales
Service Policy shall prevail and the Parties shall comply with and
give effect to the After-sales Service
Policy. Please refer to the website
of Bitmain for detailed terms of warranty
and after-sales maintenance. Bitmain has no obligation to
notify the Purchaser of the update or
modification of such terms.

 

		7.5.	During the warranty period,
if the hardware product needs to be repaired
or replaced, the Purchaser shall bear
the logistics costs of shipping the Product to the address
designated by Bitmain, and Bitmain
shall bear the logistics costs of shipping back the repaired
or replaced Product to the address
designated by the Purchaser. The
Purchaser shall bear all and any
additional costs incurred due to incorrect
or incomplete delivery information provided
by the Purchaser and all and any risks
of loss or damage to the Product, or
the parts or components of the Products
during the transportation period (including the transportation
period when the product is sent to Bitmain
and returned by Bitmain to the Purchaser).

 

		8.	Representations and Warranties

 

The Purchaser
makes the following representations and warranties
to Bitmain:

 

		8.1.	It has the full power and authority
to own its assets and carry on its businesses.

 

		8.2.	The obligations expressed to be assumed
by it under this Agreement
are legal, valid, binding and
enforceable obligations.

 

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		8.3.	It has the power to enter into,
perform and deliver, and
has taken all necessary action
to authorize its entry into, performance and delivery of, this Agreement
and the transactions contemplated by
this Agreement.

 

		8.4.	The entry into and performance
by it of, and the transactions
contemplated by, this Agreement do not
and will not conflict with:

 

		(i)	any Applicable Law;

 

		(ii)	its constitutional documents; or

 

		(iii)	any agreement or instrument binding upon it or any of its assets.

 

		8.5.	All authorizations required or desirable:

 

		(i)	to enable it lawfully to enter into, exercise
its rights under and comply with its obligations
under this Agreement;

 

		(ii)	to ensure that those obligations are legal,
valid, binding and enforceable; and

 

		(iii)	to make this Agreement admissible in evidence
in its jurisdiction of incorporation,

 

have
been or will have been by
the time, obtained or effected and are,
or will be by the appropriate
time, in full force and effect.

 

		8.6.	It is not aware of
any circumstances which are likely to lead
to:

 

		(i)	any authorization obtained or effected
not remaining in full force and effect;

 

		(ii)	any authorization not being obtained, renewed
or effected when required or desirable;
or

 

		(iii)	any authorization being subject
to a condition or requirement which it
does not reasonably expect to satisfy or the compliance with which
has or could reasonably be expected
to have a material
adverse effect.

 

		8.7.	(a) It
is not the target of economic sanctions administered
by the Office of Foreign
Assets Control of the U.S. Department of
the Treasury, the U.S. Department of State,
the United Nations Security Council,
the European Union, Her Majesty’s
Treasury or Singapore (“Sanctions”),
including by being listed on the Specially Designated Nationals
and Blocked Persons (SDN) List maintained by OFAC
or any other Sanctions list maintained
by one of the foregoing governmental authorities,
directly or indirectly owned or controlled by
one or more SDNs or other Persons included
on any other Sanctions list, or located,
organized or resident in a country or territory
that is the target of Sanctions, and
(b) the purchase of the Product(s) will
not violate any Sanctions or import and export control
related laws and regulations.

 

    	 	12	 

    	 

    

 

		8.8.	All information supplied by
the Purchaser is and shall be true and
correct, and the information does not contain and
will not contain any statement that is false or misleading.

 

		9.	Indemnification and Limitation of
Liability

 

		9.1.	The Purchaser shall, during
the term of this Agreement and at any
time thereafter, indemnify and save Bitmain
and/or its Affiliates harmless from and
against any and all damages, suits, claims, judgments,
liabilities, losses, fees, costs or expenses of any kind, including legal
fees, whatsoever arising out of or incidental to the Products
pursuant to this Agreement.

 

		9.2.	Notwithstanding anything to the contrary herein, Bitmain
and its Affiliates shall under no circumstances,
be liable to the Purchaser for any
consequential loss, or loss of goodwill, business,
anticipated profits, revenue, contract, or business
opportunity arising out of or in connection
with this Agreement, and the Purchaser
hereby waives any claim it may at
any time have against Bitmain
and its Affiliates in respect of any
such damages. The foregoing limitation
of liability shall apply whether in an
action at law, including but not limited
to contract, strict liability, negligence,
willful misconduct or other tortious action,
or an action in equity.

 

		9.3.	Bitmain and its Affiliates’
cumulative aggregate liability pursuant to this Agreement,
whether arising from tort, breach of contract
or any other cause of action
shall be limited to and not exceed the amount
of one hundred percent (100%) of the down payment
actually received by Bitmain from the
Purchaser for the Product(s).

 

		9.4.	The Product(s) are not designed,
manufactured or intended for use
in hazardous or critical environments
or in activities requiring emergency
or fail-safe operation, such as the operation
of nuclear facilities, aircraft navigation or communication
systems or in any other applications
or activities in which failure of the
Product(s) may pose the risk of environmental harm or physical
injury or death to humans. Bitmain specifically
disclaims any express or implied warranty
of fitness for any
of the above described application and any such use shall
be at the Purchaser’s sole risk.

 

		9.5.	The above limitations and
exclusions shall apply (1) notwithstanding failure of essential
purpose of any exclusive or limited remedy;
and (2) whether or not Bitmain has been
advised of the possibility of such damages. This Clause allocates
the risks under this Agreement and Bitmain’s
pricing reflects this allocation of risk
and the above limitations.

 

		10.	Distribution

 

		10.1.	This Agreement does not constitute
a distributor agreement between Bitmain and the Purchaser.
Therefore, the Purchaser is not an authorized
distributor of Bitmain.

 

    	 	13	 

    	 

    

 

		10.2.	The Purchaser shall in no event
claim or imply to a third party that it is an authorized distributor of Bitmain
or Bitmain (Antminer) or any similar
terms, or perform any act
that will cause it to be construed as an
authorized distributor of Bitmain or Bitmain
(Antminer). As between the Purchaser
and Bitmain, the Purchaser shall be exclusively
and fully responsible for complying with the Applicable Laws
regarding repackaging the Product(s) for the Purchaser’s redistribution needs,
and shall be solely liable for any
and all liabilities or costs directly
incurred or incidental to such
redistribution.

 

		11.	Intellectual Property Rights

 

		11.1.	The Parties agree that the
Intellectual Property Rights in any way
contained in the Product(s), made, conceived or developed
by Bitmain and/or its Affiliates
for the Product(s) under this Agreement
and/or, achieved, derived from, related
to, connected with the provision of the Product(s)
by Bitmain and/or acquired by
Bitmain from any other person
in performance of this Agreement shall
be the exclusive property of Bitmain and/or
its Affiliates.

 

		11.2.	Notwithstanding anything to
the contrary herein, all Intellectual Property Rights in the Product(s)
shall remain the exclusive property of Bitmain
and/or its licensors. Except for licenses
explicitly identified in Bitmain’s Shipping Confirmation
or in this Clause 11.2, no rights or licenses
are expressly granted, or implied, whether
by estoppel or otherwise,
in respect of any Intellectual
Property Rights of Bitmain and/or its Affiliates
or any Intellectual Property residing
in the Product(s) provided by Bitmain
to the Purchaser, including in any documentation
or any data furnished by
Bitmain. Bitmain grants the Purchaser
a non-exclusive, non-transferrable, royalty- free and irrevocable license of Bitmain
and/or its Affiliates’ Intellectual Property Rights
to solely use the Product(s) delivered by
Bitmain to the Purchaser for their ordinary
function, and subject to the Clauses set forth
herein. The Purchaser shall in no event
violate the Intellectual Property Rights
of Bitmain and/or its licensors.

 

		11.3.	If applicable,
payment by the Purchaser of non-recurring
charges to Bitmain for any special
designs, or engineering or production
materials required for Bitmain’s performance of Orders
for customized Product(s), shall not be construed
as payment for the assignment from Bitmain to the Purchaser
of title to the design or special materials.
Bitmain shall be the sole owner of such special designs, engineering or production
materials.

 

		12.	Confidentiality and Communications

 

		12.1.	All information concerning
this Agreement and matters pertaining
to or derived from the provision
of Product(s) pursuant to this Agreement between
the Parties, whether in oral or written
form, or in the form of drawings,
computer programs or other, as well as
all data derived therefrom (“Confidential Information”), shall
be deemed to be confidential and, as
such, may not be divulged to any unauthorized
person without express written permission by
both parties or unless required by law.
The Purchaser undertakes and agrees to
take all reasonable and practicable steps
to ensure and protect
the confidentiality of the Confidential Information which cannot be
passed, sold, traded, published or disclosed to any unauthorized person.

 

    	 	14	 

    	 

    

 

		13.	Term of this Agreement

 

		13.1.	This Agreement will be effective
upon Bitmain’s issuance of the shipping confirmation
to the Purchaser, provided that if there
is more than one shipping confirmation, this Agreement
will be effective to the Products
contained in each shipping confirmation
upon Bitmain’s issuance of the respective
shipping confirmation to the Purchaser.

 

		13.2.	This Agreement shall remain
effective up to and until the delivery
of the last batch of Products.

 

		14.	Contact Information

 

All communications
in relation to this Agreement shall be
made to the following contacts:

 

Purchaser’s
business contact:

Name:
Zachary Bradford

Phone: _______________

Email:
_______________

Bitmain’s
business contact:

Name:
Qingqing Miao

Phone:
_______________

 

Email:
_______________

 

		15.	Compliance with Laws and Regulations

 

		15.1.	The Purchaser undertakes that
it will fully comply with all Applicable Laws
in relation to export and import control and
Sanctions and shall not take any action that would cause Bitmain or any of
its Affiliates to be in violation of
any export and import control laws or
Sanctions. The Purchaser shall also be fully and
exclusively liable for and shall defend,
fully indemnify and hold harmless Bitmain
and/or its Affiliates from and against any and
all claims, demands, actions, costs or proceedings
brought or instituted against Bitmain and/or its Affiliates
arising out of or in connection with any
breach by the Purchaser or the carrier
of any Applicable Laws in relation
to export and import control or Sanction.

 

		15.2.	The Purchaser acknowledges and agrees
that the Product(s) in this Agreement are subject
to the export control laws and regulations of all
related countries, including

 

    	 	15	 

    	 

    

 

but not
limited to the Export Administration Regulations (“EAR”) of the United
States. Without limiting
the foregoing, the Purchaser shall not,
without receiving the proper licenses
or license exceptions from all related governmental authorities, including but not
limited to the U.S. Bureau of Industry and
Security, distribute, re- distribute,
export, re-export, or transfer any
Product(s) subject to this Agreement either
directly or indirectly, to any national
of any country identified in Country Groups
D:1 or E:1 as defined in the EARs. In
addition, the Product(s) under this Agreement
may not be exported, re-exported, or transferred
to (a) any person or entity for military
purposes; (b) any person or entity listed on the “Entity List”, “Denied
Persons List” or the SDN List
as such lists are maintained by
the U.S. Government, or (c) an end-user engaged
in activities related to weapons of mass
destruction. Such activities include but are
not necessarily limited to activities related to: (1) the design,
development, production, or use of nuclear materials,
nuclear facilities, or nuclear weapons; (2) the design, development,
production, or use of missiles or support of missiles projects; and (3) the
design, development, production, or use of chemical
or biological weapons. The Purchaser further
agrees that it will not do any of the foregoing in violation
of any restriction, law, or regulation
of the European Union or an individual
EU member state that imposes on an
exporter a burden equivalent to or greater
than that imposed by the U.S. Bureau
of Industry and Security.

 

		15.3.	The Purchaser undertakes that
it will not take any action under this Agreement
or use the Product(s) in a way that will
be a breach of any anti-money laundering laws, any
anti-corruption laws, and/or any counter-terrorist
financing laws.

 

		15.4.	The Purchaser warrants that
the Product(s) have been purchased with funds that are from
legitimate sources and such funds do not constitute proceeds of criminal
conduct, or realizable property,
or proceeds of terrorism
financing or property of terrorist, within the meaning given
in the Corruption, Drug Trafficking and
Other Serious Crimes (Confiscation of Benefits) Act (Chapter 65A) and
the Terrorism (Suppression of Financing)
Act (Chapter 325), respectively. If Bitmain
receives, including but not limited to investigation, evidence collection, restriction
and other measures, from any competent
organizations or institutions, the Purchaser
shall immediately cooperate with Bitmain and
such competent organizations or institutions in the investigation
process, and Bitmain may request
the Purchaser to provide necessary security
if so required. The Purchaser understands that if any Person
resident in Singapore knows or suspects or has reasonable grounds for knowing
or suspecting that another Person is engaged
in criminal conduct or is involved with
terrorism or terrorist
property and the information for that
knowledge or suspicion came to their
attention in the course of business in
the regulated sector, or other trade,
profession, business or employment, the
Person will be required to report
such knowledge or suspicion to the Suspicious Transaction Reporting Office,
Commercial Affairs Department of the Singapore Police Force. The Purchaser
acknowledges that such a report shall
not be treated as breach of confidence or violation
of any restriction upon the disclosure of information
imposed by any Applicable Law,
contractually or otherwise.

 

    	 	16	 

    	 

    

 

		16.	Force Majeure

 

		16.1.	To the extent that a Party
is fully or partially delayed, prevented or hindered
by an event of Force
Majeure from performing any obligation
under this Agreement (other than an obligation
to make payment), subject to the exercise
of reasonable diligence by the affected
Party, the failure to perform
shall be excused by the occurrence
of such event of Force
Majeure. A Party claiming that its performance is excused
by an event of Force
Majeure shall, promptly after the occurrence
of such event of Force Majeure, notify
the other Party of the nature, date of
inception and expected duration of such
event of Force Majeure and the extent to which
the Party expects that the event will
delay, prevent or hinder the Party from
performing its obligations under this Agreement.
The notifying Party shall thereafter
use its best effort to eliminate such
event of Force Majeure and mitigate
its effects.

 

		16.2.	The affected Party shall
use reasonable diligence to remove the event of Force Majeure,
and shall keep the other Party informed of all significant developments.

 

		16.3.	Except in the case
of an event of Force Majeure, neither
party may terminate this Agreement prior
to its expiry date.

 

		17.	Entire Agreement and Amendment

 

This Agreement,
constitutes the entire agreement of the Parties
hereto and can only be amended
with the written consent of both Parties
or otherwise as mutually agreed by
both Parties.

 

		18.	Assignment

 

		18.1.	Bitmain may freely assign or
transfer any of its rights, benefits or
obligations under this Agreement in whole
or in part to its Affiliates or to any
third party. The Purchaser may not assign
or transfer any
of its rights, benefits or obligations
under this Agreement in whole or in part
without Bitmain’s prior written consent.

 

		18.2.	This Agreement shall be binding upon and
enure to the benefit of each
Party to this Agreement and its successors
in title and permitted assigns.

 

		19.	Severability

 

To
the extent possible, if any provision of this Agreement
is held to be illegal,
invalid or unenforceable in whole or in part
by a court, the provision shall
apply with whatever deletion or modification
is necessary so that such provision is
legal, valid and enforceable and gives
effect to the commercial intention of
the Parties. The remaining provisions of this
Agreement shall not be affected and shall remain in full force
and effect.

 

		20.	Personal Data

 

Depending
on the nature of the Purchaser’s interaction with Bitmain,
some examples of

 

    	 	17	 

    	 

    

 

personal
data which Bitmain may collect from
the Purchaser include the Purchaser’s
name and identification information, contact information such
as the Purchaser’s address, email address
and telephone number, nationality, gender, date
of birth, and financial information such as credit card numbers, debit
card numbers and bank account information.

 

Bitmain
generally does not collect the Purchaser’s
personal data unless (a) it is provided
to Bitmain voluntarily by the Purchaser
directly or via a third party who has been duly
authorized by the Purchaser
to disclose the Purchaser’s personal data to Bitmain
(the Purchaser’s “authorized representative”) after (i) the Purchaser
(or the Purchaser’s authorized representative) has been notified
of the purposes for which
the data is collected, and (ii) the Purchaser
(or the Purchaser’s authorized representative) has provided written
consent to the collection and usage of the Purchaser’s personal
data for those purposes, or

(b) collection
and use of personal data without consent is permitted
or required by related
laws. Bitmain shall seek the Purchaser’s consent before collecting any
additional personal data and before using the Purchaser’s
personal data for a purpose which has not been notified
to the Purchaser (except where permitted
or authorized by law).

 

		21.	Conflict with the Terms
and Conditions

 

In
the event of any ambiguity or discrepancy between
the Clauses of this Agreement and the
Terms and Conditions from
time to time, it is intended that the
Clauses of this Agreement shall prevail
and the Parties shall comply with and give
effect to this Agreement.

 

		22.	Governing Law and
Dispute Resolution

 

		22.1.	This Agreement shall be solely governed
by and construed in accordance
with the laws of Hong Kong.

 

		22.2.	Any dispute, controversy, difference
or claim arising out of or relating to
this Agreement, including the existence,
validity, interpretation, performance, breach
or termination hereof or any dispute regarding
non-contractual obligations arising out of or relating to this Agreement
shall be referred to and finally
resolved by arbitration administered by
the Hong Kong International Arbitration Center under the UNCITRAL
Arbitration Rules in force when the notice
of arbitration is submitted. The decision and
awards of the arbitration shall be final
and binding upon the parties hereto.

 

		23.	Waiver

 

Failure
by either Party to enforce
at any time any provision of this
Agreement, or to exercise any election
of options provided herein shall not constitute
a waiver of such provision or option, nor affect
the validity of this Agreement or any part hereof,
or the right of the waiving Party to
thereafter enforce each and every such
provision or option.

 

		24.	Counterparts and Electronic
Signatures

 

This Agreement
may be executed in one or more counterparts,
each of which will be

 

    	 	18	 

    	 

    

 

deemed
to be an original copy of this Agreement, and
all of which, when taken together,
will be deemed to constitute one and
the same agreement. The facsimile, email
or other electronically delivered signatures of the Parties
shall be deemed to constitute original
signatures, and facsimile or electronic copies hereof shall
be deemed to constitute duplicate originals.

 

		25.	Further Assurance

 

Each
Party undertakes to the other Party to
execute or procure to be executed all such documents and to do or
procure to be done all such other acts
and things as may be reasonable and
necessary to give all Parties the full benefit
of this Agreement.

 

		26.	Third Party Rights

 

A person who
is not a Party to this Agreement has no right
under the Contracts (Rights of
Third Parties) Ordinance (Chapter 623
of the Laws of Hong Kong) to enforce
or to enjoy the benefit of any
term of this Agreement.

 

		27.	Liquidated Damages Not Penalty

 

It
is expressly agreed that any liquidated
damages payable under this Agreement
do not constitute a penalty and that
the Parties, having negotiated in good
faith for such specific liquidated damages and
having agreed that the amount of such
liquidated damages is reasonable in light of the anticipated harm caused by
the breach related thereto and the difficulties
of proof of loss and inconvenience or nonfeasibility
of obtaining any adequate remedy,
are estopped from contesting the validity
or enforceability of such liquidated damages.

 

 

(The rest
part of the page is intentionally left in blank)

 

 

 

 

 

 

    	 	19	 

    	 

    

 

Signed
for and on behalf of Bitmain

 

 

Bitmain
Technologies Limited

 

 

Signature

Title

 

 

Signed
for and on behalf of the Purchaser

 

CleanSpark Inc.

 

 

Signature

Title

 

    	 	20	 

    	 

    

 

APPENDIX

		1.	Products:

 

		1.1.	 The information
                                                               (including but not limited to the quantity, rated
                                                               hashrate, estimated unit price (“Unit Price”),
                                                               estimated total price(“Total Price
                                                               (One Item)”), total price for all
                                                               the items (“Total Purchase
                                                               Price”) of Products to be purchased by Party
                                                               B from Party A is as follows (“Products”):

 

		1.1.1	Product Type

 

	Type	Details
	Product Name	Super Computing Server S19j Pro
	Rated hashrate / unit	~100TH/s
	Rated power / unit	~2950W
	J/T@25
    °C environment temperature	
         

        ~29.5

	
         

         

         

         

         

        Description
	
        1.       
        Bitmain undertakes that the
        error range of “J/T@25°C environment
        temperature”does not exceed 10%.

        2.       
        “Rated hashrate / unit”
        and “rated power / unit” are for reference
        only and may
        defer from each batch or unit. Bitmain makes
        no representation on “Rated hashrate
        / unit” and “rated power / unit .

        3.       
        Purchaser shall not reject
        the Products on the grounds that the
        actual parameters of the delivered Products
        are not in consistence with the reference indicators.

 

		1.1.2	The estimated delivery schedule, reference
quantity, total rated hashrate,
unit price and total price are as follows:

 

    	 	21	 

    	 

    

 

	
         

        Batch
	
         

        Product
        Name
	Shipping Schedule	Reference Quantity	Total Rated Hashrate (T)	Estimated Price/T (US$/T)	Estimated Unit Price (US$)	Estimated Total Price
	(US$)
	1	
         

         

         

         

         

         

         

         

         

        Hash
        Super Comput ing Server, S19j

        pro
	August 2021	600	60,000	83.77	8,377	5,026,200
	2	September 2021	600	60,000	83.77	8,377	5,026,200
	3	October 2021	600	60,000	83.77	8,377	5,026,200
	4	November 2021	600	60,000	77.01	7,701	4,620,600
	5	December 2021	600	60,000	77.01	7,701	4,620,600
	6	January 2022	600	60,000	77.01	7,701	4,620,600
	7	February 2022	600	60,000	64.85	6,485	3,891,000
	8	March 2022	600	60,000	64.85	6,485	3,891,000
	9	April 2022	600	60,000	64.85	6,485	3,891,000
	10	May 2022	600	60,000	58.1	5,810	3,486,000
	11	June 2022	600	60,000	58.1	5,810	3,486,000
	12	July 2022	600	60,000	58.1	5,810	3,486,000

 

 

1.1.3       
Estimated Total price
of the Products listed above: Estimated Total
Purchase Price (tax exclusive): US$51,071,400 Tax:
US$0

Estimated
Total Purchase Price (tax inclusive):
US$51,071,400

 

		1.2.	Both Parties confirm and agree that Bitmain may adjust
                                                                                                             the total quantity based on the total hashrate provided that the total
                                                                                                             hashrate of the Product(s)
                                                                                                             actually delivered by Bitmain
                                                                                                             to the Purchaser shall not be less than the total rated
                                                                                                             hashrate agreed in Article 1.1 of this
Appendix A. Bitmain makes no representation
that the quantity of the actually delivered
Products shall be the same as the quantity
set forth in Article 1.1. of this Appendix
A.

 

    	 	22	 

    	 

    

 

		1.3.	In the event that Bitmain
                                                                                                            publishes any new type of products
                                                                                                            with less J/T value and suspends the production
                                                                                                            of the type of the Products as
                                                                                                            agreed in this Agreement, Bitmain shall be entitled
                                                                                                            to release itself from any future
                                                                                                            obligation to deliver any subsequent
                                                                                                            Products by 10-day prior notice
                                                                                                            to the Purchaser and continue to deliver
                                                                                                            new types of Products, the total rated hashrate of which
                                                                                                            shall be no less than such subsequent Products cancelled under this Agreement
                                                                                                            and the price of which shall
                                                                                                            be adjusted in accordance with the
                                                                                                            J/T value. In the event that the
                                                                                                            Purchaser explicitly refuses to accept new
                                                                                                            types of Products, the Purchaser
                                                                                                            is entitled to request for a refund
                                                                                                            of the remaining balance of the purchase
                                                                                                            price already paid by the Purchaser
                                                                                                            together with an interest at 0.0333% per day
                                                                                                            on such balance for the period from
                                                                                                            the next day following the payment date of such
                                                                                                            balance to the date immediately prior to the date
                                                                                                            of request of refund. If
                                                                                                            the Purchaser accepts the new types
                                                                                                            of Products delivered by Bitmain,
                                                                                                            Bitmain shall be obliged to deliver
                                                                                                            such new types of Products to fulfill its obligations under this Agreement.
                                                                                                            The Purchaser may request to lower the actual
                                                                                                            total hashrate of the Products
                                                                                                            delivered but shall not request
                                                                                                            to increase the actual total hashrate to the level exceeding the total
                                                                                                            rated hashrate as set out in this Agreement.
                                                                                                            After Bitmain publishes new types of Products and if Bitmain
                                                                                                            has not suspended the production
                                                                                                            of the types of Products under this Agreement,
                                                                                                            Bitmain shall continue to delivery such agreed types of Products
                                                                                                            in accordance with this Agreement
                                                                                                            and the Purchaser shall not terminate
                                                                                                            this Agreement or refuse to accept
                                                                                                            the Products on the grounds that Bitmain
                                                                                                            has published new type(s) of Products.

 

		2.	Cargo insurance coverage
limitations:

 

The cargo
insurance coverage provided by Bitmain
is subject to the following limitations and
exceptions:

 

Exclusions:

 

		-	loss damage or expense attributable
to willful misconduct of the Assured

		-	ordinary leakage, ordinary
loss in weight or volume, or ordinary
wear and tear of the subject-matter
insured

		-	loss damage or expense caused
by insufficiency or
unsuitability of packing or preparation
of the subject-matter insured (for the purpose of this Clause,
“packing” shall be deemed to include stowage
in a container or liftvan but only when such
stowage is carried out prior to attachment
of this insurance or by the Assured
or their servants)

		-	loss damage or expense caused
by inherent vice or nature of the subject-matter
insured

		-	loss damage or
expense proximately caused by delay,
even though the delay be caused
by a risk insured against (except expenses payable)

		-	loss damage or expense arising
from insolvency or financial default
of the owners managers charterers or operators
of the vessel

		-	loss, damage, or expense arising
from the use of any weapon of war employing
atomic or nuclear fission, and/or fusion or other like reaction
or radioactive force or matter.

 

    	 	23	 

    	 

    

 

		-	Loss, damage or expense arising
from unseaworthiness of vessel or craft, unfitness of vessel
craft conveyance container or liftvan for the safe
carriage of the subject- matter insured, where the Assured or their servants
are privy to such unseaworthiness or unfitness,
at the time the subject-matter insured is loaded
therein.

		-	The Underwriters waive any
breach of the implied warranties of seaworthiness of the ship and
fitness of the ship to carry the subject-matter insured
to destination, unless the Assured or
their servants are privy to such unseaworthiness
or unfitness.

		-	Loss, damage or expense caused
by (1) war, civil
war, revolution, rebellion, insurrection,
or civil strife arising therefrom, or
any hostile act by or against a belligerent
power, (2) capture, seizure, arrest, restraint
or detainment (piracy excepted), and
the consequences thereof or any attempt
threat, (3) derelict mines, torpedoes,
bombs, or other derelict weapons of war.

		-	Loss, damage, or expense caused
by strikers, locked-out workmen, or
persons taking part in labor disturbances,
riots or civil commotion, resulting from strikes, lock-outs, labor disturbances,
riots or civil commotions, caused by any
terrorist or any person acting from a
political motive.

 

		3.	Bitmain’s BANK
ACCOUNT info:

Company Name: Bitmain Technologies Limited

 

Company address: FLAT/RM
A1 11/F SUCCESS COMMERCIAL BUILDING
245- 251 HENNESSY ROAD HK

Account
No.:

Bank
name:

Bank
address:

Swift Code:

ABA CODE:

 

		4.	The payment shall be arranged by
the Purchaser as Appendix B.

 

		5.	At any time prior to the delivery,
Bitmain is entitled to, by
written notice, request the Purchaser
to enter into a separate purchase agreement and
Bitmain and the Purchaser, if so requested,
shall cooperate with Bitmain to enter
into such purchase agreement and shall pay the outstanding price for the Products
in accordance with the terms and conditions
of this Agreement, failing which Bitmain is entitled
to request the Purchaser to continue to perform
its obligations under this Agreement.

 

		6.	The Purchaser shall pay
25% of the Total Purchase Price as down
payment to Bitmain within seven
(7) days after the signing of this Agreement,
with the remaining being settled in accordance
with the payment schedule set forth in
this Agreement.

 

    	 	24	 

    	 

    

 

		7.	Without prejudice
to the above, the unit price and the
Total Purchase Price of the Product(s)
and any amount paid by
the Purchaser shall be all denominated
in USD. Where the Parties agree that
the payments shall be made in cryptocurrencies,
the exchange rate between the USD and
the cryptocurrency selected shall be determined and
calculated as follows: (1) in the event that the Purchaser
pays for any order placed on Bitmain’s
official website (the “Website”, http://www.bitmain.com)
which is valid and has not been
fully paid yet, the exchange rate
between the USD and the cryptocurrency
fixed in such placed Order shall apply,
or (2) in any other case, the real
time exchange rate between the USD and
the cryptocurrency displayed on the Website
upon payment shall apply. The exchange
rate between the USD and the cryptocurrency shall
be fixed according to this provision. In
any circumstance, the Purchaser shall
not ask for any refund
due to the change of exchange
rate.

 

    	 	25	 

    	 

    

 

APPENDIX
B

 

 

 

	Payment Percentage	Payment Date	
         

        Note
	Example (Assuming this Agreement is signed on April 12.)
	At least 25%	
        seven
        (7) days after signing of this

        Agreement
	25%  of  the  Total Purchase Price	25% of the Total Purchase Price shall be paid by April 19 2021
	At least 35%	six (6) months prior to the shipment	35% per month of a single batch	
        35% of the price for August/September/October/

        November
        batch shall be paid by May 30 2021;

        35% of the price for December batch shall
        be paid by June 30 2021; etc.

	The remaining 40%	one (1) month prior to the shipment	40% per month of a single batch	
        40% of the price for August
        batch shall be paid by June 30
        2021;

        40% of the price
        for September batch shall be paid by
        July 30 2021; etc.

 

    	 	26HARDWARE
PURCHASE
& SALES
AGREEMENT

 

PARTIES

 

_________________
(hereinafter
referred
to as
“_________”) a _____________
with
its principal
office
located
at _________________ And
_____________________ (hereinafter
referred
to as
“customer”)
with
its principal
office
located
at _____________.

TERM

The
effective
date of
this
agreement is
_____________. This agreement applies to all hardware equipment sales made between the customer and _________ for one year after
the date of the signed agreement. Agreement will auto-renew after one year’s time.

 

PURPOSE
& GENERAL
TERMS

 

This
agreement shall
govern
any purchase
of a Hardware
Product
by Customer,
and
any sale
and/or
delivery
of a Hardware
Product
by __________. By purchasing
hardware
equipment,
you acknowledge
that
you have
read this
document,
understand
it, agree to
be legally
bound
by its
terms
and
conditions.

 

If
you are accepting
these terms
on behalf
of another
person
or a company
or other
legal entity,
you represent
and
warrant
that
you have
full
authority
to bind
that person,
company,
or legal
entity
to this
sales agreement.

 

DEFINITIONS

 

“Customer”
means
a party who
purchases
or otherwise
receives
a Hardware
Product
from __________.
This
includes
a broker
acting
on behalf
of their
client.

 

“Hardware
Equipment”
includes,
but
is not limited
to, ASIC
Miners,
Power Supply
Units (PSUs)
Power Distribution
Units (PDUs)
and replacement
fans for
ASIC
Miners

 

“Defect”
means
a situation
where
a Hardware
does not
perform,
function
or operate
in accordance
with
the applicable
terms
of this
Agreement and/or
any material
fault,
failure,
error
or other
defect
in such Hardware.

 

“New
Equipment”
means any
equipment
sold in
the box
and/or
not previously
used.

 

    	 		 

    	 

    

 

“Used
Equipment”
means any
equipment
that has
been previously
used,
or opened
even if in
the original
box.

 

 

PRICES
& PAYMENTS

 

		●	Invoices
will reflect
pricing
in USD,
and
unless
otherwise
indicated
exclude
any taxes
and
shipping costs

		●	Payments
are due
at the time
an order
is placed
or upon
receipt of
invoice.
Invoice
is good
for
12 hours before
price and/or
availability
is subject
to change

		●	A sale
is not
final until
funds
arrive in
___________’s bank account
or BTC/USDC
wallet
(or another
account designated
by ___________).
___________ will provide
confirmation
after
funds
have been
received
in account,
and
at this
point
the sale
is final
and refunds
will not
be made.

		●	The customer
shall pay
for the
invoiced
amounts
in advance
in order
to be
able to
receive
the ordered
hardware
products.
No items
will be held
without
payment in
full
unless
otherwise
noted,
and
further,
all goods
must be paid
for
prior
to shipment
of the
Goods to
Buyer.

		●	___________
reserves
the right
not to
accept
or to
cancel
or refund
your order
in our
sole
discretion
for
any reason
without
liability, including
if the products
are not
available,
are incorrectly
priced
or otherwise
incorrectly
described.

		●	Any and
                                                                 all prices quoted
                                                                 by Seller
                                                                 to Buyer for the
                                                                 purchase of Goods do
                                                                 not include
                                                                 any manufacturer’s sales,
                                                                 use, excise or similar
                                                                 taxes, tariffs, charges or
                                                                 duties, and
                                                                 the   amount
                                                                 of any thereof
                                                                 which Seller
                                                                 is required to pay
                                                                 or collect will
                                                                 be invoiced to
                                                                 Buyer, unless
                                                                 Buyer provides Seller with
                                                                 appropriate
                                                                 evidence that Buyer
                                                                 is exempt from the payment of such taxes,
                                                                 or unless
                                                                 otherwise
                                                                 noted.

		●	Any chargebacks
that
occur after
confirmation
of receipt
of payment
will result
in a canceled
order.
Any related
fees as
a result
of the chargeback
must be
paid for
by the
buyer.

 

 

DELIVERY

 

		●	___________
or its assignee
shall deliver
the hardware
equipment
to the
delivery
address specified by Customer.
Delivery
of the Goods
by Seller
to the
Customer
at provided
shipping
address shall
constitute
delivery
to Customer.

		●	Seller
shall not
be liable
for any
failure
to deliver
if the failure
is caused
by circumstances
beyond the control
of the Seller
(including
but not
limited
to inaccurate
address provided,
or missed
delivery
window).

		●	Any
delivery
schedule
quoted
by Seller
is its
best
estimate
as of
the date
of quotation
and
is subject
to change

		●	Any
shipping
charges
quoted
by Seller
are subject
to change
if information
provided
was inaccurate
(e.g.
availability
of loading
dock, type
of address
(residential
vs. commercial),
etc.)

 

    	 	2	 

    	 

    

 

ACCEPTANCE

 

		●	Upon
the arrival
of the Goods
at their
destination,
Buyer shall
have
the right
to examine
the Goods
before
accepting
delivery.
Such inspection
shall be made
immediately,
and
any damage
or possible
damage
should be noted
with
the carrier
before
signing
for
the package.
If no damage
is noted
upon
arrival of
the Goods
at their
destination,
the Buyer
shall be
deemed
to have
accepted
them.

		●	By accepting
delivered
Goods, Buyer
waives
any claims
or defenses
based
upon
defects
in the
Goods that
Buyer knew
of, or
reasonably
could have
discovered
by carefully
examining
the Goods.

		●	Buyer
agrees that
if it accepts
the Goods
tendered
under
this
Agreement,
such acceptance
shall be deemed
acknowledgment
by Buyer
that the
goods
satisfy
all of
Seller's
obligations. Buyer
may
not revoke
its acceptance
for any
reason
whatsoever.

 

 

TITLE
AND RISK
OF LOSS

 

All
products
ordered
remain
the property
of ___________
until full
payment is
tendered
to ___________, and
delivered
to buyer
as indicated
below.
In the
event of
a payment
dispute,
Customer
is required
to return
the products
that
are the
subject
of dispute
to ___________ immediately
upon request,
and
to assume the
risks (in
particular
the risks
of loss, theft,
and
damage)
relating
to such products.

 

The transfer
of ownership
of the Hardware
occurs
once it has
been delivered
to the
customer
at the provided
shipping
address.
___________ shall bear
the risk
of loss or
damage
to a Hardware
Product
until it is delivered
to the
Customer.
Thereafter,
the Customer
assumes the
risk of
loss or damage
of the Hardware
Product,
including
those that
may
have resulted
from the
transportation
of the goods
but
weren’t
noted
with
the carrier
upon
delivery,
and
the Customer
shall bear
all losses, damages,
debts
and
liabilities that
result.

 

 

WARRANTIES,
LIMITATION
OF LIABILITIES

 

___________
does not
guarantee
the following,
and
therefore
is not
responsible
for
expenses, loss
or damages
as a result
of:

 

		●	Manufacturer
issues including
but not
limited
to production
delays,
shipping
delays,
or faulty
equipment/defective
machinery

		●	Broker/seller
issues including
but not
limited to non-delivery,
delays
in shipping,
damaged
goods, etc.
___________ will refund
the Customer
in any case
of non-delivery,
and
will handle
damaged
parts per
the Warranty
terms
in the
section below.

		●	Shipping
company
issues, including
but not
limited
to non-delivery,
delays
in shipping,
damaged
goods
during
shipping,
etc. ___________ will
refund
the Customer
in any case
of Non-delivery,
and
will handle
damaged
parts per
the Warranty
terms
in the
section below.

		●	Changes
in ASIC
market
or Crypto
industry
that
results
in changes
to hardware
profitability
or value

 

    	 	3	 

    	 

    

 

FOR
NEW
EQUIPMENT:

 

Warranty:
___________ will assign
any remaining
Manufacturer’s
Warranty
for
the new equipment
to the
Customer.
The manufacturer’s
warranty
(if any)
is the
only warranty
that
shall be
provided
by ___________ with
respect
to the
hardware
product.
Any and
all issues with
new hardware
equipment
must be
resolved
directly
with
the manufacturer.

 

Other
provisions:
For new
equipment,
___________ does not
guarantee
the total
number
of units
or hashrate per
unit,
but
rather only
guarantees
that
total hashrate
across
all units
ordered
will be reached.
Per the
standard
manufacturer
policy,
total
hashrate
of products
delivered
to client
will not
be less
than
total
hashrate
originally
ordered,
but
the manufacturer
and
___________ reserves
the right
to adjust
total number
of units
as needed.

 

 

FOR
USED EQUIPMENT:

 

___________
will over
a 7 Day DOA
Warranty
unless
otherwise
noted
on the
sales invoice
. Equipment
should be
tested
within
7 calendar
days of delivery.
Any machines
identified
as DOA should
be reported
to ___________ within
7 calendar
days. Proof
of testing
and photos/videos
should be provided.
___________ will immediately
ship a tested
replacement
within
7 business
days. If
this
is not
possible,
a refund
will be issued
within
the same
7 business
day period.
The cost of
the original
machine
less any
shipping
costs
will be covered.
___________ can
choose to coordinate
shipping/
provide
labels
to the
customer,
or the customer
can
choose to handle
shipping
back to
the seller.

 

In
any action
under or related to this
agreement, ___________
shall not
be liable to
customer for
any of
the following,
even if informed
of their
possibility,
whether
arising
in contract, tort
(including negligence) or otherwise:
1) third-party claims
for damages;
2) loss of,
or damage to, data;
3) special, incidental,
indirect, punitive
or consequential
damages; or 4) loss of profits, business,
revenue, goodwill
or anticipated savings. as
some states or
jurisdictions do
not allow the
exclusion
or limitation
of some damages, the
above exclusion
or limitation
may not
apply to this
agreement. except for bodily injury (including
death)
and damage to
real property or
tangible personal property. In the event
___________ is determined
to be liable to the
customer, its liability
shall be limited
to the lesser of
a); the amount of
actual direct damages suffered by
customer;
or b) the amount
the customer
paid ___________ for the hardware
product.

 

 

FORCE
MAJEURE

 

___________
shall not
be liable
to Customer
for
any failure
or delay
in the
performance
of its
obligations hereunder,
to the
extent
such failure
or delay
is caused
by fire, flood,
earthquakes,
other
elements
of nature;
acts
of war;
terrorism,
riots, civil
disorders,
rebellions
or revolutions;
epidemics,
communication
line or
power
failures;
governmental
laws, court
orders
or regulations;
or any
other
cause
beyond
the reasonable
control
of ___________.

 

    	 	4	 

    	 

    

 

NON-DISCLOSURE

 

The
parties will
maintain
complete
confidentiality
regarding
each other
business
sources
and/or
their Affiliates
and
will disclose
such business
sources
only
to named
parties pursuant
to the
express
written
permission
of this
party who made
available
the source;
and,

 

That
they will not
disclose
names, addresses,
email addresses,
telephone
and
fax or
telex
numbers
to any
contacts
by either
party to
third parties
and
that they
each recognize
such contracts
as the
exclusive
property
of the
respective
parties and
that they
will not
enter
into
any direct
negotiations
or transactions
with such contracts
revealed
by the
other
party and,

 

 

DISPUTES

 

All
disputes,
controversies,
or claims
arising
out of
or relating
to this
Agreement or
a breach
thereof
shall be submitted
to and
finally
resolved
by arbitration
under
the rules
of the American
Arbitration Association
("AAA")
then in
effect.

 

There
shall be
one arbitrator,
such arbitrator
shall be
chosen by mutual
agreement
of the parties
in accordance
with
AAA rules.
The arbitration shall
take place
in Springfield,
Massachusetts

 

The
arbitrator
shall apply
the laws
of the Commonwealth
of Massachusetts
to all
issues in
dispute.
The findings
of the arbitrator
shall be
final
and binding
on the
parties, and
may
be entered
in any
court of
competent
jurisdiction
for enforcement.

 

 

ENTIRE
AGREEMENT

 

This
Agreement
constitutes
the entire
agreement
and
understanding
between
Customer
and ___________
concerning
the purchase,
sale,
and/or
delivery
of any
Hardware
Product.

 

This
Agreement
supersedes
any prior or contemporaneous
agreements,
communications
and
proposals,
whether
oral or written,
between
Customer
and ___________
(including,
but
not limited
to, any prior
versions
of this
Agreement).

 

If
any provision
of this
Agreement is
determined
to be
invalid,
illegal
or unenforceable,
the remaining
provisions
shall remain
in full
force
to the
extent
permitted
by law.

 

    	 	5	 

    	 

    

 

TERMINATION

 

This
Agreement may
be terminated
by either
Buyer or
Seller
within
thirty
(30)
days’ written
notice. Any
notice
or other
communication
required
or permitted
to be
given under
this
Agreement shall
be in
writing
and shall
be mailed
by certified
mail,
return
receipt
requested,
postage
prepaid,
addressed
to the
parties as
follows:

 

 

	 	SELLER:	 	BUYER:	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    	 	6

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