United Power of Asia Public Company Limited inform that of Board of Directors meeting of the Company No. 4/2022 has resolved to approve the Company to enter into the Memorandum of Understanding with Asia Investment And Financial Services Sole Company Limited in order to provide services to cryptocurrency mining owners who wish to use the services and to receive the sharing of cryptocurrency mined as a benefit. The facility may host cryptocurrency mining machines up to 40 MW electricity power.

In this regard, the initial limit of the investment is THB 500,000,000. The entry into the MOU is only an expression of intention and setting out the initial terms of joint investment. The detailed terms and conditions will be further negotiated and agreed among the parties.

Nevertheless, since the investment into such joint venture entity is uncertain, the Company shall further disseminate update information to the shareholders, and as an entering into the investment will be considered as an acquisition of assets of the Company.