Oslo, 11th August 2025
With reference to the stock exchange notice dated 30th of June 2025.
Due to a 3rd party IP library update in the design platform used to design and
synthesize Lokotech's proprietary ASIC, some adjustments had to be made in the
design to incorporate this library change. Library updates are common and
happens a few times per year. They do only occasionally trigger adjustments
which was the case at this time. The changes were significant enough for the
team having to adapt the design and restart sign-off, validation and the final
checklists that was started earlier in Q2.
For clarification, usage of non-updated intellectual property is prohibited by
the foundry.
This adds slightly more than five weeks of work that must be redone to ensure
acceptable quality of the final design. The previously presented timeline will
therefore shift accordingly, and tape out is now expected 15th of September +/-
10 days. As earlier, this milestone depend on our subcontractors, including our
I.C. assembly partners, and the foundry that will conduct final design rule
checks and characterization tests. Lokotech will notify when dry runs starts
with the foundry. Dry runs normally start a few weeks before the design is fully
taped-out.
First deliveries of Lokotech's miners are therefore projected to begin in the
later half of Q4 2025. The design of the products marketed as "Hashblades" and
"Barrels" (industrial scale miners) is ready, although iterative improvements
continue. Long lead items have been put in order and the product is now largely
only pending on ASICs coming out of production.
This information is subject to disclosure under the Norwegian Securities Trading
Act, §5-12.