Investor Presentaiton

Calculating Gross Mining Profitability The Model Is Formulaic Mining Revenue Annual Gross Mining Profitability = [C Argo's Hash Rate 6.25 x 52,560 Blocks / year x Block Network Hash Rate Reward .)·(: Transaction x BTC Price Fees Number of Bitcoin Mined Mining Expense D&A of Miners )·( 1)·( Cost of Electricity Direct Data Center Costs Text in Blue are Factors Argo Controls Bitcoin Mining Considerations Revenue consists of block reward plus a transaction fee Reward is dependent upon the difficulty set by the network hash rate versus Argo's hash rate Number of block rewards is fixed Key costs of mining include purchases of miners and costs to run miners, primarily electricity 25 25 argo

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