Hyper Bit Announces Letter of Intent to Acquire Dogecoin Mining Infrastructure Company with Rights to Purchase up to 2,660 ElphaPex DOGE/LTC Miners and Secured Access to a Data Centre with 11MW of Renewable Energy
Vancouver, British Columbia–(Newsfile Corp. – May 20, 2025) – HYPER BIT TECHNOLOGIES LTD. (CSE: HYPE) (OTC Pink: HYPAF) (FSE: N7S0) (the “Company” or “Hyper Bit”) announces that it has entered into a non-binding letter of intent (the “LOI“) dated May 19th, 2025, to acquire all of the outstanding common shares of Dogecoin Mining Technologies Corp. (“Dogecoin Mining Technologies“), an at arms length, development stage Dogecoin (“DOGE“) and Litecoin (“LTC“) cryptocurrency mining company. The terms of the LOI are outlined herein (the “Proposed Transaction”).
Figure 1. Crypto Mining hosting facility in Canada
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 of capacity at an anticipated all-in hosting rate sub USD $0.07 per kilowatt-hour.</p><p>Led by early cryptocurrency pioneers, Dogecoin Mining Technologies combines deep technical and operational expertise. With turnkey infrastructure and strategic supply chain relationships in place, the company is well positioned to commence mining operations upon the allocation of capital resources required to obtain mining equipment and initiate installation at the data centre.</p><p>Upon closing of the Proposed Transaction, Hyper Bit will be well positioned to become one of the first publicly listed altcoin-focused mining companies, with the goal of delivering long-term value creation and profitability within the rapidly evolving digital asset ecosystem.</p><p style=){kind=link}
Figure 2. ElphaPex DG1+ Crypto Mining Rigs
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Dogecoin Mining Technologies President, Mr. Carl Hermansen, stated: “We are excited by the opportunity to merge our efforts with the team at Hyper Bit, who shares our focus on Dogecoin’s strong economic potential in today’s competitive landscape. Dogecoin Mining Technologies has developed a comprehensive infrastructure platform, including hardware supply agreements for industry leading mining rigs, access to renewable energy at a highly competitive rate, and an operations team with extensive industry experience in the sector. Pending capital allocation, our platform is ready for immediate launch and scalable growth.”
The Proposed Transaction
Hyper Bit proposes to issue to the shareholders of Dogecoin Mining Technologies an aggregate of 15,000,000 common shares (the “Consideration Shares“) in the capital of the Company, at a deemed price of $0.30 per Consideration Share, representing a total deemed value of $4,500,000. The Consideration Shares will be subject to voluntary escrow and released tranches based on the achievement of specified operational milestones and in the case of Tranche 1, the passage of time, with the intent of aligning the shareholders of Dogecoin Mining Technologies with the long-term growth objectives of the Company.
The proposed tranche structure is as follows:
| Tranche 1 | 3,000,000 | On the date that is four (4) months and one (1) day following the closing date, subject to applicable stock exchange escrow policies.¹ |
| Tranche 2 | 3,000,000 | Upon the confirmation that the initial tranche of ElphaPex DG1+ Rigs has cleared customs in the destination jurisdiction.¹ |
| Tranche 3 | 3,000,000 | Upon confirmation that the initial tranche of ElphaPex DG1+ Rigs has been installed and is online within ten (10) business days of arrival at the data center.¹ |
| Tranche 4 | 3,000,000 | Upon confirmation that the initial tranche of DG1+ Rigs are achieving a hash rate equal to or greater than 96%, based on a five (5) day rolling average after being deemed online. ¹ |
| Tranche 5 | 3,000,000 | Upon confirmation of the allocation of a minimum of 2,000 ElphaPex DG2 Rigs through a comfort letter or equivalent supporting documentation. ¹ |
¹ Notwithstanding the achievement of any milestone, no Consideration Shares shall be released prior to four (4) months and one (1) day following the closing date, in accordance with the policies of the Canadian Securities Exchange (the “CSE“).
The Proposed Transaction remains subject to the negotiation and execution of a definitive share exchange agreement, the completion of satisfactory due diligence, receipt of an independent estimate valuation report of Dogecoin Mining Technologies acceptable to the Company’s board of directors, customary closing conditions, and the approval of the CSE. No Finder’s Fee is payable in connection with the transaction.
About Hyper Bit Technologies Ltd.
Hyper Bit Technologies Ltd. is a forward-thinking, diversified technology company specializing in the acquisition, development, and strategic deployment of crypto mining operations and blockchain-based innovations. As global interest in digital assets accelerates—driven by the rise of blockchain, decentralized finance (DeFi), and increasing institutional and retail adoption—Hyper Bit is committed to unlocking value across the crypto ecosystem while delivering growth for our stakeholders. Hyper Bit Technologies Ltd. is a member of the Blockchain Association of Canada and the American Blockchain & Cryptocurrency Association.
Stay informed on our latest developments by subscribing to Company updates at Hyperbit.ca and follow us across our social media channels: X.com, TikTok, Instagram, and LinkedIn. Hyper Bit Technologies Ltd. is publicly listed in Canada (CSE: HYPE), the USA (OTC Pink: HYPAF) and in Europe (FSE: N7S0).
About Dogecoin Mining Technologies Corp.
Dogecoin Mining Technologies Corp. is a Dogecoin (DOGE) and Litecoin (LTC) crypto currency mining infrastructure company focused on building scalable, high-performance crypto currency mining operations. The Company has strategically secured key components necessary to execute a large-scale mining platform, including proprietary hardware supply agreements for Elphapex DG1+ and DG2+ ASIC rigs, a highly experienced operations team with expertise in blockchain, big data, and artificial intelligence, and a renewable energy-powered colocation agreement with access to up to 11MW of capacity at an anticipated rate sub $0.07 per kilowatt-hour.
With turnkey infrastructure in place, Dogecoin Mining Technologies Corp. is positioned to rapidly scale mining operations upon allocation of capital resources, leveraging industry-leading hardware, low-cost sustainable energy, and operational expertise to pursue attractive profitability and long-term value creation in the rapidly expanding digital asset ecosystem.
ON BEHALF OF THE BOARD
Signed “Robert Eadie”
Robert Eadie, President & Chief Executive Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
e-mail: team@hyperbit.ca
FORWARD-LOOKING STATEMENTS:
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this news release includes statements related to the Proposed Transaction and related matters. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
No investment is without risk. Crypto currencies are particularly volatile and therefore particularly risky. Companies that are developing technologies and investing in crypto mining can potentially be adversely affected by its inherent volatility. Readers are cautioned to always consult an investment advisor to determine if an opportunity is right for you.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252756
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