CryptoStar Corp. announced the expansion of its self-mining Hashrate and operations in Quebec, Canada. The Company also provides an update on operations.

In March 2022, the Company secured an aggregate mining capacity of 1.5 megawatts of green, hydro-based power in Quebec, Canada, effective April 1, 2022. As at April 1, 2022, the Company had successfully redeployed 88% of its ASIC self-mining Hashrate equating to 44.35 PH/s and 52% of its GPU self-mining Hashrate equating to 39.16 MH/s from ASIC and GPU miners that were relocated from Alberta, Canada in its data centres in Quebec, Canada. In addition, through a subsidiary, the Company continues to make progress on its expansion of operations in Quebec, Canada, and on its application with Hydro Quebec to secure an additional 5 MW of power at its data centre.

As at April 5, 2022, the Company had received and deployed at its data centre facilities in Utah, USA, 300 of the 600 high performance ASIC miners previously announced on September 24, 2021, representing an additional self-mining Hashrate of 26.48 PH/s. As at April 5, 2022, the Company has an aggregate self-mining Hashrate of 78.8 PH/s from ASIC miners and 121,944 MH/s from GPU miners running at its data centres. The 78.8 PH/s and 121,944 MH/s of existing self-mining Hashrate currently contributes USD 674,342.98 per month in self-mining revenue for CryptoStar. The previously announced purchase of 600 high performance ASIC miners to be delivered in 6 equal tranches of 100 miners during calendar 2022 commencing in January 2022 and ending in June 2022, continue to be delivered with three deliveries remaining.

This will increase the Company's self-mining Hashrate from ASIC miners by a further 8.8 PH/s each delivery month. The Company anticipates that it will redeploy the remaining self-mining Hashrate of 11.6 PH/s from ASIC miners and 54,826 MH/s from GPU miners that were previously running in Alberta, Canada as expeditiously as possible in second quarter, 2022. As at April 5, 2022, the Company has Equipment Hosting Agreements for an aggregate mining capacity of 12 MW located at its data centre facilities in Utah, USA, contributing annual hosting revenues for the Company of USD 1.7 million.

The Company continues to perform diligence on the potential power supply agreement with a Kansas-based energy company as previously announced on February 10, 2022. The natural gas power generation site of 611890 Alberta Inc. DBA Avila Energy remains shut down. Litigation against the Alberta Partner et al.

is ongoing with respect to the non-compliance with terms of the power supply agreement for up to 30 MW and damages arising therefrom.