<SEC-DOCUMENT>0001553350-18-000988.txt : 20180824
<SEC-HEADER>0001553350-18-000988.hdr.sgml : 20180824
<ACCEPTANCE-DATETIME>20180824170052
ACCESSION NUMBER:		0001553350-18-000988
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180821
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180824
DATE AS OF CHANGE:		20180824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Riot Blockchain, Inc.
		CENTRAL INDEX KEY:			0001167419
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				841553387
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33675
		FILM NUMBER:		181037583

	BUSINESS ADDRESS:	
		STREET 1:		202 6TH STREET, SUITE 401
		CITY:			CASTLE ROCK
		STATE:			CO
		ZIP:			80104
		BUSINESS PHONE:		303-794-2000

	MAIL ADDRESS:	
		STREET 1:		202 6TH STREET, SUITE 401
		CITY:			CASTLE ROCK
		STATE:			CO
		ZIP:			80104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Bioptix, Inc.
		DATE OF NAME CHANGE:	20161201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Venaxis, Inc.
		DATE OF NAME CHANGE:	20121218

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AspenBio Pharma, Inc.
		DATE OF NAME CHANGE:	20051110
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>riot_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<html>
<head>
<title>Current Report</title>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px"><b>UNITED STATES</b> &#160;</p>

<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">SECURITIES AND EXCHANGE COMMISSION</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">Washington, D.C. 20549</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">FORM 8-K</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">CURRENT REPORT</p>

<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">PURSUANT TO SECTION 13 OR 15(d) OF</p>

<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">THE SECURITIES EXCHANGE ACT OF 1934</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">Date of Report (Date of earliest event reported): August 21, 2018</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">Riot Blockchain, Inc.</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">&#160;(Exact name of registrant as specified in its charter)</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">&#160;</p>

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<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">Nevada</p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px"><font style="BACKGROUND-COLOR: #ffffff"><b>001-33675</b></font></p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px"><font style="BACKGROUND-COLOR: #ffffff"><b>84-1553387</b></font></p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">(State or Other Jurisdiction&#160;of Incorporation)</p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">&#160;</p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">(Commission File&#160;Number)</p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">&#160;</p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">(I.R.S. Employer Identification Number)</p>
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<p style="FONT-SIZE: 11pt; MARGIN: 0px; TEXT-INDENT: 36px">&#160;</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px"><b>202 6</b><font style="FONT-SIZE: 7.5pt"><b><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup></b> <font style="FONT-SIZE: 11pt; FONT-WEIGHT: bold">Street, Suite 401</font></font></p>

<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">Castle Rock, CO <font style="BACKGROUND-COLOR: #ffffff">80104</font></p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">&#160;(Address of principal executive offices) (zip code)</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px"><font style="BACKGROUND-COLOR: #ffffff"><b>(303) 794-2000</b></font></p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">(Registrant's telephone number, including area code)</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">(Former Name or Former Address, if Changed Since Last Report)</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; FONT-FAMILY: Wingdings; MARGIN: 0px">&#168;<font style="FONT-FAMILY: Times New Roman"> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="FONT-SIZE: 11pt; FONT-FAMILY: Wingdings; MARGIN: 0px">&#168;<font style="FONT-FAMILY: Times New Roman"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="FONT-SIZE: 11pt; FONT-FAMILY: Wingdings; MARGIN: 0px">&#168;<font style="FONT-FAMILY: Times New Roman"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="FONT-SIZE: 11pt; FONT-FAMILY: Wingdings; MARGIN: 0px">&#168;<font style="FONT-FAMILY: Times New Roman"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">&#160;</p>

<p style="FONT-SIZE: 11pt; MARGIN: 0px">Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b2 of the Securities Exchange Act of 1934 (&#167;240.12b2 of this chapter).</p>

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<p style="FONT-SIZE: 11pt; MARGIN: 0px">Emerging growth company <font style="FONT-FAMILY: Wingdings">&#168;</font></p>

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<p style="FONT-SIZE: 11pt; MARGIN: 0px">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="FONT-FAMILY: Wingdings">&#168;</font></p>

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<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 14px; MARGIN-TOP: 3px; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Item 1.01. Entry into a Material Definitive Agreement.</p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify; TEXT-INDENT: 48px">As previously reported, on February 15, 2018, the Company entered into an asset purchase agreement (the "BMSS Purchase Agreement") with Blockchain Mining Supply &amp; Services Ltd., ("BMSS"), which owned certain bitcoin mining machines (the "BMSS Equipment"). Pursuant to the BMSS Purchase Agreement, the aggregate consideration for the BMSS Equipment consisted of $8,500,000. Section 2(b)(ii) of the BMSS Purchase Agreement provided for the obligation of &#160;the Company to pay $1,500,000 to BMSS no later than 180 days after the closing date of the BMSS Purchase Agreement. The foregoing description of the BMSS Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Form of Purchase Agreement, a copy of which was filed as Exhibit 10.3 to the Company&#8217;s Current Report on Form 8-K dated as of February 16, 2018, and incorporated by reference herein.</p>

<p style="TEXT-ALIGN: justify; MARGIN: 3px"><br>
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<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify; TEXT-INDENT: 48px">On August 21, 2018, the Company and BMSS entered into an waiver letter, amending the BMSS Purchase Agreement (the &#8220;Waiver&#8221;) whereby the Company and BMSS agreed to waive any and all past due amounts payable by the Company to BMSS pursuant to Section 2(b)(ii) of the BMSS Purchase Agreement. Pursuant to the Waiver, the Company agreed to pay to BMSS $150,000 on or before August 21, 2018, $200,000 on or before September 30, 2018 and on each 30 day anniversary thereafter for a total of 6 payments of $200,000 until a total of $1,350,000 has been paid. The Company will make a final payment equal to $150,000 plus accrued and unpaid interest calculated at a rate equal to 10% per year 30 days following the last payment of $200,000. In addition to the foregoing, the Company agreed to issue to BMSS 50,000 shares of restricted common stock in connection with the Waiver within 7 days of the execution of the Waiver. In connection with the foregoing, the&#160;Company relied upon the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended, for transactions not involving a public offering. The foregoing description&#160;of the Waiver does not purport to be complete and is qualified in its entirety by reference to the complete text of the Waiver, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K. </p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify; TEXT-INDENT: 48px">&#160;</p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; FONT-WEIGHT: bold">Item 3.02. Unregistered Sales of Equity Securities.</p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px">&#160;</p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify; TEXT-INDENT: 48px"><font style="BACKGROUND-COLOR: #ffffff">Item 1.01 is incorporated by reference in its entirety into this Item 3.02.</font></p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px"><font style="BACKGROUND-COLOR: #ffffff"></font>&#160;</p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify"><font style="BACKGROUND-COLOR: #ffffff"><b>Item 9.01. Financial Statements and Exhibits.</b></font></p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify; TEXT-INDENT: 52px"><font style="BACKGROUND-COLOR: #ffffff"></font>&#160;</p>

<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify; TEXT-INDENT: 52px"><font style="BACKGROUND-COLOR: #ffffff">(d) Exhibits.</font></p>

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<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-ALIGN: justify; TEXT-INDENT: 52px"><font style="BACKGROUND-COLOR: #ffffff">The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.</font></p>

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<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">Exhibit No.</p>
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<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; MARGIN: 0px">Description</p>
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<p style="FONT-SIZE: 11pt; TEXT-ALIGN: center; MARGIN: 0px">10.1</p>
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<p style="FONT-SIZE: 11pt; COLOR: #0000ff; MARGIN: 0px"><a href="riot_ex10z1.htm"><u>Waiver Letter</u></a></p>
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<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px">SIGNATURES</p>

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<p style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 3px; MARGIN-TOP: 3px; TEXT-INDENT: 48px">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.</p>

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<p style="FONT-SIZE: 11pt; FONT-WEIGHT: bold; MARGIN: 0px">RIOT BLOCKCHAIN, INC.&#160;</p>
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<p style="FONT-SIZE: 11pt; MARGIN: 0px">Dated: August 24, 2018</p>
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<p style="FONT-SIZE: 11pt; MARGIN: 0px">By:</p>
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<p style="FONT-SIZE: 11pt; MARGIN: 0px">/s/ John O&#8217;Rourke</p>
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<p style="FONT-SIZE: 11pt; MARGIN: 0px">Name: John O&#8217;Rourke</p>
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<p style="FONT-SIZE: 11pt; MARGIN: 0px">Title: Chief Executive Officer</p>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>riot_ex10z1.htm
<DESCRIPTION>WAIVER LETTER
<TEXT>
<html>
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<title>Waiver Letter</title>
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<p style="FONT-WEIGHT: bold; TEXT-ALIGN: right; MARGIN: 0px">EXHIBIT 10.1</p>

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<p style="FONT-SIZE: 12pt; TEXT-ALIGN: center; MARGIN: 0px">Riot Blockchain, Inc.</p>

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<p style="FONT-SIZE: 14pt; MARGIN: 0px">August 20<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup>, 2018</p>

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<p style="FONT-SIZE: 14pt; MARGIN: 0px">Blockchain Mining Supply &amp; Services Ltd.</p>

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<p style="FONT-SIZE: 14pt; MARGIN: 0px">Ladies and Gentlemen: </p>

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<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: 48px">Reference is made to that certain Asset Purchase Agreement (the &#8220;Agreement&#8221;) dated as of February 15, 2018 by and between Blockchain Mining Supply &amp; Services Ltd. (&#8220;BMSS&#8221;) and Riot Blockchain, Inc., a Nevada corporation (the &#8220;Company) pursuant to which the Company acquired certain assets consisting of 3,000 Bitmain Antminer S9 and related equipment. Terms not defined herein shall have the meanings ascribed thereto in the Agreement. </p>

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<p style="FONT-SIZE: 14pt; MARGIN-BOTTOM: -2px; WIDTH: 48px; MARGIN-TOP: 0px; FLOAT: left; TEXT-INDENT: 24px">1.</p>

<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: -2px">Section 2(b)(ii) of the Agreement provides for the obligation of the Company to pay $1,500,000 to BMSS no later than one hundred and eighty days after the Closing Date or at such time when the Assets become operational, whichever is sooner.</p>

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<p style="FONT-SIZE: 14pt; MARGIN-BOTTOM: -2px; WIDTH: 96px; MARGIN-TOP: 0px; FLOAT: left; TEXT-INDENT: 48px">2.</p>

<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: -2px">The Company and BMSS hereby agree to waive any and all past due amounts, if any, pursuant to Section 2(b)(ii) of the Agreement.</p>

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<p style="FONT-SIZE: 14pt; MARGIN-BOTTOM: -2px; WIDTH: 96px; MARGIN-TOP: 0px; FLOAT: left; TEXT-INDENT: 48px">3.</p>

<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: -2px">Section 2(b(ii) of the Agreement is further deleted in its entirety and replaced with the following:</p>

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<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; PADDING-LEFT: 48px; MARGIN: 0px">2(b)(ii). The Company shall pay to BMSS $150,000 by wire transfer of immediately available funds to an account designated in writing by BMSS on or before August 21, 2018. Thereafter the Company shall pay $200,000 to BMSS by wire transfer of immediately available funds on or before September 30, 2018 and on each 30 day anniversary thereafter for a total of 6 payments of $200,000 until a total of $1,350,000 in total payments has been paid. &#160;The Company shall make a final payment equal to $150,000, plus accrued and unpaid interest on all unpaid amounts calculated at a rate equal to 10% per annum, to be paid 30 days following the last payment of $200,000. &#160;In addition to interest accruing on unpaid balance at 10%, &#160;</p>

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<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; PADDING-LEFT: 48px; MARGIN: 0px">Interest on any late installment payment shall accrue at a rate equal to the lower of 16% or the maximum rate allowable by law on any and all unpaid installments until paid in full. </p>

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<p style="FONT-SIZE: 14pt; MARGIN-BOTTOM: -2px; WIDTH: 96px; MARGIN-TOP: 0px; FLOAT: left; TEXT-INDENT: 48px">4.</p>

<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: -2px">The Company shall issue BMSS 50,000 shares of restricted common stock, no par value, of the Company (the &#8220;Stock&#8221;) in connection with this Amendment. &#160;BMSS understands and agrees the Stock shall be restricted common stock which may not be transferred or resold without an effective registration statement or exemption, and shall contain a restrictive legend, as required by the Securities Act of 1933, as amended. The shares are to be issued within 7 days of the signing of this agreement.</p>

<p style="FONT-SIZE: 14pt; MARGIN-BOTTOM: -2px; WIDTH: 96px; MARGIN-TOP: 0px; FLOAT: left; CLEAR: left; TEXT-INDENT: 48px">5.</p>

<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: -2px">The waivers and amendments set forth herein relate solely to the subject matter hereof on the terms described above and shall not be deemed to waive any of other rights or remedies under the Agreement in connection with any other transactions not contemplated herein. &#160;</p>

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<p style="FONT-SIZE: 14pt; MARGIN-BOTTOM: -2px; WIDTH: 96px; MARGIN-TOP: 0px; FLOAT: left; TEXT-INDENT: 48px">6.</p>

<p style="FONT-SIZE: 14pt; TEXT-ALIGN: justify; MARGIN: 0px; TEXT-INDENT: -2px">Except as set forth herein, all of the other provisions of the Exchange Agreement shall remain in full force and effect in accordance with their terms. </p>

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<p style="FONT-SIZE: 14pt; MARGIN: 0px">Very truly yours,</p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px">Riot Blockchain, Inc.</p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px">By: </p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px"><u>/s/ John O&#8217;Rourke</u></p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px">Name: </p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px">John O&#8217;Rourke</p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px">Title: </p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px">CEO</p>
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<p style="FONT-SIZE: 14pt; MARGIN: 0px">Agreed and acknowledged</p>

<p style="FONT-SIZE: 14pt; MARGIN: 0px">BLOCKCHAIN MINING SUPPLY &amp; SERVICES LTD.</p>

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<p style="FONT-SIZE: 14pt; MARGIN: 0px">By: <u>/s/ William Tencer</u></p>

<p style="FONT-SIZE: 14pt; MARGIN: 0px">Name: William Tencer</p>

<p style="FONT-SIZE: 14pt; MARGIN: 0px">Title: President </p>

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<p style="FONT-SIZE: 14pt; TEXT-ALIGN: center; MARGIN: 0px">[SIGNATURE PAGE TO WAIVER LETTER] </p>

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<p style="FONT-SIZE: 12pt; TEXT-ALIGN: center; MARGIN: 0px">2</p>

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