Bit Brother signs LOI with Blockworx1 for $1.2M potential asset sale

Bit Brother signed an LOI with Blockworx1 or the potential sale of assets and services for total purchase price of $1,200,000. Blockworx1 is offering to sell 2-acre tract of land zoned for industrial use located at 5418 Lockheed Way, Abilene, TX 79603 that includes 5 MW of existing electrical load capacity with a potential to be scaled up to 10 MW of total electrical load capacity. Blockworx1 will also Development services to complete the build out of the aforementioned property for the purpose of cryptocurrency mining, including site design, selection and oversight of contractors, coordination in obtaining project approval and final inspection sign-off, negotiation and procurement of power purchase agreement(s) for 5 MW of electrical load, advisory and support for cryptocurrency mining hardware, and post-electrification site management to operationalize 5 MW of mining capacity.