$BGDE – UPDATE FROM THE BOARD

All, we’ve seen the reaction to the mining JV deal we put together and sincerely appreciate all of the good questions and thoughts you have shared with us. Our goal is to always be as transparent as we possibly can with our shareholders and the market. With that thought in mind we would like to add the following notes for some additional context.

As follows:

1. Our forward strategy for the Company is unchanged: Big Digital is Long Land, Long Infrastructure. Long Power. We are committed to utilizing every available electron and placing it in service where it serves the Company best. Today that makes us Long AI, Long HPC, and where it makes sense

2. Today’s Reality: We have available, energized capacity that should not sit idle. The company has been maintaining an older fleet in addition to the Canaan CoLo deal and it made sense to provide a substantial refresh. The 25k S19XP’s that we are bringing in representing 75MW worth of compute were not sitting idle in the private co’s (Endeavor) hands. Endeavor strategically sought out this batch for this transaction.

3. This agreement is about bringing real revenue in the short term while we build toward higher-value workloads. We evaluated the opportunities in the market and determined this specific model would provide the highest upside while providing maximum flexibility should we have the ability to convert to a higher form of compute in the near term on these sites.

4. Deploying S19XPs is the most capital-efficient way to monetize that power today, with no capital outlay and no new liabilities for the Company. Endeavor funded this deal for the benefit of the Company. Based on current mining economics this fleet should provide the Company with $1m+ per month in new cash flow.

5. This is not a pivot away from AI/HPC. Our mandate is simple: allocate each MW to its highest-value use over time.

6. Importantly – this is flexible: The agreement is 12 months with termination rights, and structured so we can redirect power as better opportunities emerge in real time. If we had engaged with one of the OEM’s on a new CoLo deal the property and its power would have been tied up for at least 2 years. We specifically built this deal for the benefit of the Company in the near term with eyes on locking in the pivot to higher level compute.

7. We understand concerns around ** exposure. This is a near-term cash flow bridge, not the long term play.

8. Bottom line:

•    Now: monetize idle capacity, strengthen cash flow
•    Next: scale into AI/HPC as counterparties and economics mature

We are executing both paths in parallel. Thank you to all who stand with us. Big Digital things ahead!