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No Change to Company's Business, Operations or Financial Statements. The Warrants were originally issued by GRIID Infrastructure, Inc. and converted into CleanSpark warrants in connection with the Company's acquisition of GRIID on October 30, 2024. In connection with the consummation of the acquisition of GRIID, and pursuant to the terms of the merger agreement, the Warrants were to be adjusted to reflect the merger exchange ratio of 0.069593885 of a share of the Company's common stock for each share of GRIID common stock. As a result, the outstanding 13,800,000 Warrants are to represent the right to purchase an aggregate of 960,395 shares of the Company's common stock at an exercise price of $165.24 for each full share. However, the exchange ratio was erroneously applied to the Warrants in certain documentation, including the listing application filed with Nasdaq.