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July 21, 2023

Bit 49, Inc. Transitions to Revolve Labs

Bit 49, Inc., an esteemed Bitcoin mining hosting provider, announced its rebranding to Revolve Labs today. The new brand identity reaffirms the company's intensified commitment to sustainability in the realm of Bitcoin mining, embodying its shift towards an advanced, carbon-negative model.

"Bit 49 was established as a homage to the 1849 gold rush, with our company supplying the expertise and customers mining their digital 'gold' in the form of Bitcoin," says Felipe Pinto, CEO at Revolve Labs "Now, as Revolve Labs, we carry this pioneering spirit forward with a strong focus on building a green computing infrastructure that is environmentally responsible and efficient."

Revolve Labs seeks to set a new standard in Bitcoin mining by harnessing environmentally friendly technology that reduces its carbon footprint. The goal is to democratize access to Bitcoin mining, making it profitable for everyone, from individual enthusiasts to smaller mining companies, without the environmental cost typically associated with such operations.
"Our transition to Revolve Labs underlines our goal to democratize access to Bitcoin mining and ensure that it's conducted in a manner that respects and protects our planet," Felipe adds.

As part of its strategy, Revolve Labs will partner with environmentally friendly energy sources and leverage AI-powered mining management software - Revolve AI. This will enhance operational efficiency and aid the transition to carbon-negative operations.

Looking forward, Revolve Labs envisions itself as a torchbearer shaping the sustainable digital economies of tomorrow. Through accelerating the adoption of renewable energy, making green investments profitable, and offering greater reliability, clarity, and accessibility to computation and finance, Revolve Labs aims to have a lasting positive global impact.
In line with its commitment to sustainable practices, Revolve Labs will persist in Bit 49's footsteps by actively seeking additional sites with access to renewable energy, amplifying its drive to be the go-to, green Bitcoin mining hosting provider.

About Revolve Labs:

Previously known as Bit 49, Inc., Revolve Labs is a leading green computing infrastructure platform committed to providing carbon-negative Bitcoin mining solutions. With its cutting-edge, environmentally-friendly practices and smart contract technologies, Revolve Labs stands at the vanguard of the sustainable future of digital economies. The company operates in Minnesota and maintains a 10,000 ft2 ASIC repair & training center in Colorado Springs, Colorado.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding Revolve Labs' plans, objectives, expectations, strategies, and future performance. These forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements of Revolve Labs to differ materially from those expressed or implied by such forward-looking statements.
Among the risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements include, but are not limited to: the anticipated benefits, construction schedule, and costs associated with the development of sustainable mining infrastructure; the impact of weather events on our operations and results; our ability to successfully deploy and maintain mining technology; the variance in our Bitcoin mining rewards; the integration of acquired businesses and technologies; the realization of anticipated efficiencies and strategic and financial benefits from our renewable energy partnerships.
All forward-looking statements included in this press release are made only as of the date of this press release, and Revolve Labs disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur or of which Revolve Labs hereafter becomes aware, except as required by law. Readers are cautioned not to place undue reliance on such forward-looking statements.

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