Summer Update: Curtailment Expectations & Rate Stability in Oklahoma

Hello,

As we head into the summer, we want to share a few important updates regarding operations in Oklahoma.

⚠️ Utility Rate Changes

The utility provider in Oklahoma has implemented two rate increases this year — the first in March 2025 and the second on June 1st. These increases are pass-through charges stemming from under-collected fuel costs.

We will also experience more heat-related curtailment events this summer as utilities work to manage rising demand and energy costs.

That said, there will be no price increase for our clients in Oklahoma.

We recognize that this comes at a time when mining profitability is finally improving in 2025, and we remain committed to supporting your momentum without adding cost pressure.

???? Curtailment Overview

• When? Most curtailments will occur between 2:00 PM and 7:00 PM, during periods of peak grid demand. Exact times may vary.

• How Often? Based on historical patterns, we expect 10 to 12 events this summer, totaling 50 to 60 hours.

• Notice: You’ll receive advance email notifications ahead of each curtailment.

⚡ Why Do Curtailments Happen?

Curtailments are temporary reductions in energy usage, requested by utility companies during high-demand or grid-stress periods. They're part of nationwide demand response programs that:

• Maintain grid stability and prevent blackouts

• Reduce peak load stress

• Enable better renewable energy integration

• Offer cost incentives to high-usage facilities

???? What Happens During a Curtailment?

Our data centers support these efforts by:

• Powering down non-critical systems

• Reducing cooling loads

• Shifting workloads where possible

• Using on-site backup power when needed

Curtailments are closely monitored to ensure accurate billing and compliance.

₿ How Bitcoin Mining Supports the Grid

Bitcoin miners are uniquely valuable to grid stability:

• Highly Flexible Load – Able to shut down quickly on demand

• Stranded Energy Use – Operate near underutilized or remote power sources

• Absorbing Excess Supply – Use surplus wind/solar power during low-demand hours

• Revenue Smoothing – Help energy providers stabilize rates by balancing demand

We truly appreciate your partnership and continued support through the challenges and opportunities ahead.

Please don’t hesitate to reach out if you have any questions.