Mr. Mohammed Bakhashwain reports

BITZERO PROVIDES CORPORATE UPDATE ON BALANCE SHEET, SITE READINESS AND LEASING PROGRESS

Bitzero Holdings Inc. has provided a corporate update covering its balance sheet, operating profile, site development progress, and leasing progress and other offtake activity across its Nordic portfolio.

The company has fully repaid its $25-million debt facility, marking an important milestone in the continued strengthening of Bitzero's balance sheet and capital structure. Following the repayment, all liens and security interests previously granted in connection with the facility have been released from the company's assets in accordance with the applicable payoff, discharge and release mechanics. With a growing base of infrastructure assets and no material debt obligations, Bitzero believes it is well positioned to continue advancing its platform from a position of increased financial strength. The company continues to finance operations and remaining power-related capital expenditures through its bitcoin mining operations, which provide continuing cash flow support to the business. At current bitcoin prices, the company's mining operations continue to benefit from improving economics and increasing profitability. Bitzero expects that the major capital expenditures required for tenant deployment will be project-level financed and incurred once a lease has been signed. As a result, the company does not currently anticipate significant capital requirements prior to lease execution.

Bitzero also provided an update on development progress at its Norway site, where the company continues to expect power readiness for 110 megawatts this year. The foundations for the site's two 60-megavolt-ampere transformers have been completed, and the transformers themselves are currently en route to the site, with expected delivery in Q4. The high-voltage cable is also scheduled to arrive in Q4, representing one of the final steps toward energization this year and subsequent customer readiness.

At its Finland site, Bitzero has secured a neighbouring petrochemical site to provide backup power in support of the planned data centre campus buildout. The related power buildout is expected to be completed in parallel with development of the data centre itself. The first plot, which is expected to support 80 megawatts of gross load, is already industrially zoned, along with two other zoned plots, while additional plots forming the total planned campus area are expected to be developed in parallel with phased power readiness.

The company continues to advance lease discussions across its portfolio and is expected to have ready-for-service capacity available beginning in Q4 2027 through Q1 2028 for potential tenants at both of its Nordic sites, including 110 megawatts in Norway and 80 megawatts in Finland. In support of these efforts, Bitzero has built out the execution platform around its sites through previously announced partnerships, including its strategic relationship with Vertiv, as well as the engagement of best-in-class consultants and project partners to support engineering, infrastructure planning and overall project delivery.

"Repaying the debt facility marks an important step in strengthening the company financially, but the larger story is the continued execution and positioning of our platform," said founder and chief executive officer Mohammed Bakhashwain. "From power readiness and expansion planning in Norway to ongoing site advancement in Finland to active lease discussions across our Nordic portfolio, we are continuing to move the business forward in a disciplined way. With ready-for-service capacity expected to be available beginning in Q4 2027 through Q1 2028 and with the support of Vertiv, local consultants and project partners, we believe Bitzero is well positioned to advance toward tenant conversion and long-term infrastructure growth."

This update reflects Bitzero's continued focus on disciplined execution, balance sheet improvement and long-term value creation as it advances its strategy of building sustainable digital infrastructure capacity across the Nordics.

About Bitzero Holdings Inc.

Bitzero Holdings is a provider of IT (information technology) energy infrastructure and high-efficiency power for data centres. The company focuses on data centre development, high-performance compute (HPC) and strategic data centre hosting partnerships. Bitzero Holdings has four data centre locations in the North American and Nordic regions, with its Nordic assets powered by clean, low-carbon energy sources.

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