UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On March 2, 2023, Creek Road, Inc. (“Company”) entered into a Master Services Agreement and the Order Form thereunder (the “Agreement”) with Atlas Power Hosting, LLC (“Atlas”). Under the Agreement, Atlas will provide the Company with cryptocurrency mining services for the Company’s cryptocurrency miners at its facility in North Dakota. The Agreement has a term of two years unless otherwise terminated pursuant to its terms.
Under the Agreement, the Company shall pay Atlas a monthly hosting service fee for the quantity of electricity consumed by the Company’s miners, with an initial price per kilowatt-hour of $0.08. In lieu of a deposit or prepayment by the Company, all mined currency by the Company’s miners will be transferred to wallets in the control of Atlas. Within five business days following the end of each calendar month, Atlas will deduct the hosting service fee from the monthly total mined currency produced by the Company’s miners (based on the closing price of bitcoin at 11:59 p.m. Central Time as reported on the website of Coinbase Global, Inc.), and remit the net mined currency to the Company.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Number | ||
| 10.1 | Master Services Agreement and Order Form by and between Atlas Power Hosting, LLC and Creek Road Miners, Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CREEK ROAD MINERS, INC. | ||
| By: | /s/ John D. Maatta | |
| John D. Maatta | ||
| Chief Executive Officer | ||
Date: March 6, 2023