Item 1.01 Entry into a Material Definitive Agreement.

On September 3, 2021, Bitstream Mining LLC ("Bitstream"), an indirect wholly owned subsidiary of Ecoark Holdings, Inc. (the "Company") entered into a letter of intent ("LOI") with an independent energy management services and consulting firm (the "Consultant") outlining the key terms of proposed definitive agreements to be entered into in connection with the development of a high performance data center in Texas for Bitstream's proposed mining operation. The LOI provides, among other things, for a binding obligation of Bitstream to pay the Consultant a development fee in the amount of $1 million and reimburse the Consultant for the $96,000 collateral posted by the Consultant in connection with entering into a 12 megawatt distribution facility extension agreement. On September 9, 2021, Bitstream paid $1,096,000 under the LOI. The development fee is non-refundable except by mutual agreement by the parties or a material breach by the Consultant.





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