OTC: TRXA

Raptor Mining’s operations include our cryptocurrency mining operations and virtual asset acquisitions. We formed Megalodon to investigate and potentially pursue a cryptocurrency co-location business model. The cryptocurrency co-location business model is based on a company which has access to data centers and inexpensive cryptocurrency mining inputs, such as low-cost electricity supply, offering to host third-party owned cryptocurrency mining equipment in exchange for a fee, which may consist of a mix of cash and cryptocurrency consideration.

In October 2024, Raptor assumed the operation of the data mining equipment and Megalodon assumed operations of the data center previously under letter of Intent in Orofino, Idaho. The transaction closed in March 2025, and the costs of operation paid on behalf of the seller of the facility for that five-month period prior to the acquisition of approximately $93,000 (as part of the purchase consideration) were capitalized into the acquisition cost. The $507,000 acquisition cost was financed with an 8 percent note payable to the seller of $267,555 due May 15, 2025, and a second promissory note and deed of trust (mortgage) in favor of Frank Horkey, our President, for approximately $207,000 and a previous closing credit of approximately $32,445.

We formed Sabretooth Mining Containers to fabricate and market deployable mining containers at the Orofino facility.

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Business Focus and Strategy

Our strategic focus is to secure and operate within the Bitcoin distributed ledger network and explore additional distributed ledger protocols and infrastructure opportunities. Bitcoin (“BTC”) is a decentralized digital currency operating on a peer-to-peer network called the blockchain, which enables secure, trustless transactions without reliance on a central authority.

We began earning Bitcoin mining rewards on February 17, 2022, recognizing revenue based on the USD value of the rewards on the date mined. We seldomly retain Bitcoin on our balance sheet, and we generally convert received BTC into U.S. dollars or use it for payments to third parties.

Additional Information

We are subject to the information requirements of the Securities and Exchange Act of 1934, as amended (“Exchange Act”); in accordance therewith; we file annual, quarterly, and special reports, proxy statements and other information with the Securities and Exchange Commission (the “Commission”). The Commission maintains an internet website at http://www.sec.gov that contains reports, proxy and information statements and other information regarding issuers that file electronically with the Commission. The periodic reports, proxy statements and other information that the Company files with the Commission are available for inspection on the Commission’s website free of charge as soon as reasonably practicable after they are electronically filed with or furnished to the Commission. We maintain a website at https://www.t-rexminingsolutions.com where you may also access these materials free of charge. We have included our website address as an inactive textual reference only and the information contained in, and that can be accessed through, our website is not incorporated into and is not part of this report.

Employees & Employment Agreements

As of the date of this filing, we have four consultants, and the following officers: (a) Frank Horkey (“Horkey”), our President and Chief Financial Officer, Michael Christiansen “Christiansen”, our Secretary/Treasurer, and Antonio Oliveira, our Chief Technology Officer.

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Competition

The cryptocurrency mining industry is highly competitive and rapidly evolving. We face competition from both established and emerging companies, including publicly traded and private companies that have substantially more financial resources, more extensive operating histories, and greater access to capital than we do. Many of our competitors benefit from economies of scale and invest more in technology, infrastructure, research and development, which enables them to operate more efficiently, secure mining equipment and energy at lower costs, and better withstand fluctuations in cryptocurrency prices. Additionally, some of our competitors have greater liquidity and access to capital markets, which allows them to expand their operations and respond more rapidly to market developments.

We define our principal competitors as other publicly traded Bitcoin miners because there is widely available information about their operations. The following public companies (traded in the United States and internationally), are our competitors.

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Marathon Digital Holdings, Inc.

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Riot Platforms, Inc.

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CleanSpark, Inc.

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Hut 8 Mining Corp.

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Hive Blockchain Technologies, LTD.

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Iris Energy Limited

In this competitive landscape, we may experience challenges in maintaining or growing our market share and we may be at a disadvantage in terms of pricing, energy costs, and access to high-performance mining hardware. Given the significant resources of our competitors, we may face heightened competition for mining equipment and access to low-cost energy sources, which could impact our profitability. Furthermore, as the industry continues to attract significant investment, competition may intensify, which could further impact our ability to remain competitive.

We plan for our revenue streams to extend beyond direct crypto mining into other segments of the industry, such as collocation hosting, equipment sales, infrastructure development, software-as-a-service (SaaS), power curtailments, renewable energy credits and others. We plan to leverage strategic partnerships, technology, financial firms, consulting services for emerging ventures and other business opportunities in the blockchain infrastructure space.

In the cryptocurrency mining sector, participation itself drives competition, as miners worldwide contribute hash power to earn fractional rewards. Competing mining operations vary significantly in infrastructure, operational strategies, equipment, cooling, and most critically, power costs. Competitors, from established to new players, all leverage different economies of scale and unique strategies to maximize efficiency and revenue.

We face challenges in securing mining equipment, accessing affordable energy resources, and scaling operations to remain competitive. Furthermore, fluctuations in cryptocurrency values and potential regulatory changes could impact financial projections and overall market dynamics.

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