6-K
K-Tech Solutions Co Ltd (KMRK)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2026
K-TECH SOLUTIONS COMPANY LIMITED
Unit A, 7/F, Mai On Industrial Building
17-21 Kung Yip Street, Kwai Chung
New Territories, Hong Kong
Tel: + 852 2741 3165
(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
Entry into a Strategic Joint Venture Agreement.
On February 26, 2026 , K-Mark Technology Ltd, a subsidiary of K-Tech Solutions Company Limited (the “Company”) incorporated in Hong Kong, entered into a strategic joint venture agreement and a supplemental joint venture agreement (together the “Joint Venture Agreements”) attached as Exhibit 10.1 and 10.2 herein, respectively, with Aurora AZ Energy Ltd. (“Aurora”), a company incorporated in Calgary, Canada, to form a joint venture to develop, own, finance, construct, operate and maintain crypto mining, artificial intelligence, and high-performance computing data centers. The joint venture will launch at Aurora’s flagship site in Alberta, where the partnership is structured across several phases that together establish a roadmap to deploy over 100MW and up to 500MW of IT capacity. The Company has issued a press release to announce the Joint Venture Agreement which is included as Exhibit 10.2 herein.
Mr. Kwok Yiu Wah, Chief Financial Officer and Chairman of the Board of Directors of the Company, is a director of Aurora and holds a 40% ownership interest in Aurora.
Exhibits.
The following exhibits are being filed herewith:
| Exhibit No. | Description |
|---|---|
| 10.1 | Joint venture agreement |
| 10.2 | Supplemental joint venture agreement |
| 10.3 | Press Release |
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SIGNATURES
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, thereunto duly authorized.
| K-TECH SOLUTIONS COMPANY LIMITED | ||
|---|---|---|
| Date: March 16, 2026 | By: | /s/ Kwok Yiu Keung |
| Name: | Kwok Yiu Keung | |
| Title: | Chief Executive Officer and Director |
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Exhibit 10.1
CONFIDENTIAL
CONTRACT NO.: KM20260201
JOINT VENTURE AGREEMENT
THIS JOINT VENTURE AGREEMENT (this “Agreement”) is entered into on [Feb 26], 2026 (the “Effective Date”) by and between K-Mark Technology Ltd (“K-Tech”), and, [Aurora AZ Energy Ltd], a [Calgary corporation] (“Host”), (each of K-Tech and [Aurora AZ Energy Ltd.] is hereinafter referred to individually as a “Party” and collectively as the “Parties”).
RECITALS
WHEREAS, Host owns and operates facilities utilizing natural gas wellhead power resources, and has the requisite resources, qualifications, and capacity for hosting and operating K-Tech’s computer hardware specified on Addendum A (“K-Tech Equipment”), which may be revised from time to time by mutual written agreement of the Parties;
WHEREAS, K-Tech is the owner of the K-Tech Equipment and a mining hardware provider;
WHEREAS, the Parties intend to form a joint venture to develop, own, finance, construct, operate, and maintain one or more bitcoin mining,artificial intelligence and high -performance computing (“AI/HPC”) data center projects with initial IT capacity of more than 100MW and potential expansion up to 500 MW (each, a “Project”, and collectively, the “Projects”), on sites controlled and supplied with power by Aurora. K-Tech will provide the K-Tech Equipment, including mining machines, high-performance computing hardware, containerized infrastructure, and the corresponding power generation units (gensets), which shall include all necessary accessories and ancillary equipment such as electrical cables, switchgear, connectors, control systems, and related installation materials required for the operation of such gensets. Through this cooperation, the Parties aim to achieve two core goals: (i) verify the feasibility of wellhead power generation, defined as achieving a sustainable online rate (Uptime Ratio) of 95% or above; and (ii) establish project replicability, defined as forming a documented cooperation model that can be applied to future wellhead power collaborations;
WHEREAS, K-Tech wishes to contract with Host to provide hosting and other services for the K-Tech Equipment on the terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
| 1. | Service |
|---|
Host will provide Hosting Services (as set forth in Addendum A) to K-Tech at the facility with specifications specified on Addendum A (the “Facility”) for the purposes of installing, using, operating, troubleshooting, maintaining, and repairing (the “Services”) the K-Tech Equipment. Host shall provide all equipment required for wellhead power generation (including generators, distribution systems, and related infrastructure) and corresponding technical support to ensure the normal operation of the K-Tech Equipment. Host shall ensure that Facility units and containers utilized in connection with this Agreement shall be clearly identified with respect to their affiliation with the arrangement pursuant to this Agreement. Upon reasonable request of K-Tech and in accordance with the terms set forth below in Clause 7.3, Host shall allow K-Tech to access, free of charge, the Facility to inspect the status of the Facility including but not limited to installation, removal, additions, subtractions or physical maintenance before the Operational Date. Host shall place, install, and connect the K-Tech Equipment to the power grids and the internet, and configure the K-Tech Equipment before the Operational Date such that all the K-Tech Equipment can commence normal operation as of the Operational Date.
If Host is required to sell power to the grid or strategically participate in emergency and/or economic demand response programs (each, a “CurtailmentEvent”), Host shall notify K-Tech by email of any curtailment as soon as commercial practicable. For the avoidance of doubt, K-Tech will share in the economic benefits of emergency and/or economic demand response programs as provided herein and in accordance with its Profit Share Allocation Ratio pursuant to Clause 4.1 (the “Curtailment Proceeds”). Host agrees to promptly disclose to K-Tech any participation in emergency and/or economic demand response programs. This disclosure shall include, but shall not be limited to, the name and description of the program. Host agrees to provide K-Tech, subject to Clause 14, with reasonable access to all relevant documentation and records related to its participation in emergency and/or economic demand response programs upon reasonable request.
Host shall be responsible for the day-to-day use, operation, troubleshooting and maintenance of the K-Tech Equipment, as well as the installation and removal of the K-Tech Equipment. In the event that any of the K-Tech Equipment requires replacement components or to be replaced in whole, K-Tech will pay for and provide such replacement materials during the first year. Beginning from the second year, if (a) any of the K-Tech Equipment requires being replaced in whole, then such replacement cost will be borne solely by K-Tech and (b) any of the K-Tech Equipment requires replacement components or maintenance, all replacement material costs and maintenance costs will be shared between K-Tech and Host in accordance with the Profit Share Allocation Ratio (as defined in Clause 4.1).
In the event all or part of the K-Tech Equipment are undeployed and/or are not ready for operation on the Operational Date or at any time thereafter (other than as permitted by the terms of this Agreement) due to reasons attributable to Host (“Nondeployment”), and such Nondeployment continues for at least one (1) months, K-Tech shall have the right, in its sole discretion, to remove all or part of the K-Tech Equipment which are undeployed from the Facility by giving at least ten (10) calendar days prior written notice to Host. The costs and expenses for removal of the K-Tech Equipment, including the cost of transporting the K-Tech Equipment to K-Tech’s designated destination in Alberta, Canada, shall be borne by Host.
Further arrangements and datils of the Hosting Services are set forth in Addendum A.
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| 2. | Maintenance |
|---|---|
| 2.1 | Host Equipment |
| --- | --- |
Host shall provide all the necessary tools of the trade required to perform its tasks under this Agreement and shall not recover any and all of the costs of these tools from K-Tech. Further, Host shall have its own equipment which it uses to provide the Services pursuant to this Agreement (“Host Equipment”).
Host shall provide and maintain Host Equipment in good working order with costs for such maintenance divided in accordance with Clause 2.2. Host shall be entitled to remove all Host Equipment for repair, replacement, or otherwise as Host may determine its reasonable discretion; provided that the removal, replacement or other change of any Host Equipment shall not cause Unreasonable Disruption (a 5% or more reduction of the total hashrate output by K-Tech Equipment) to the normal operation of K-Tech Equipment.
| 2.2 | K-Tech Equipment |
|---|
Host shall be responsible for the installation, operation, troubleshooting and maintenance of the K-Tech Equipment specified in Addendum A during the Term (as defined below) of this Agreement.
All maintenance, repair, replacement and adjustment of the K-Tech Equipment (collectively, the “Maintenance Services”) shall be conducted by Host (or its designated representative) at the Facility. For the repair of the mining containers that are part of the K-Tech Equipment, K-Tech will provide reasonable remote or temporary onsite support and may provide necessary parts. The Parties agree that all expenses in connection with the Maintenance Services shall be included in the All-in Electricity and Maintenance Cost Rate listed in Addendum A, unless such damage to the K-Tech Equipment is caused by Host’s breach of its obligations under this Agreement in which case Host shall solely assume such costs and expenses. Where expenses are to be borne by Host in accordance with this paragraph, such expenses shall be deducted from the Host Revenue for the corresponding month, calculated in accordance with Clause 4.1.
| 2.3 | Uptime |
|---|
K-Tech acknowledges that periods of downtime for the K-Tech Equipment are necessary and unavoidable to ensure such equipment is kept in good repair, order and operating condition. Host shall use reasonable efforts to avoid or minimize disruptions to the Services provided to K-Tech, which are caused by such maintenance, and shall use reasonable efforts to provide written notice to K-Tech prior to the commencement of the maintenance, identifying the anticipated duration.
Notwithstanding the foregoing, during the Term of this Agreement, Host will use its reasonable efforts to have the hosting services be uninterrupted for the Minimum Uptime Ratio as set forth in Addendum A of each month (which such percentage shall be adjusted to take into account any Curtailment Events, periods of routine maintenance, repair, downtime due to K-Tech Equipment failure (including the end of K-Tech Equipment useful life), and downtime caused by a Force Majeure Event for such month) (“Minimum Service Level”) for all K-Tech Equipment operated at the Facility.
In the event that the uptime continuously falls below the Minimum Uptime Ratio for more than thirty (30) days, K-Tech shall have the option to turn off any or all of the K-Tech Equipment at its sole discretion. K-Tech shall not incur any cost or minimum capacity charges by turning off any or all of the K-Tech equipment.
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Except for the Uptime Exempt Events set forth in Addendum A, if the Uptime Ratio falls below 90% in any give month, Host shall compensate K-Tech, not as a penalty, the difference between 90% uptime and the actual uptime for each of such occurrence and K-Tech shall have the option to terminate this Agreement upon seven (7) days of notice. This is to be completed by re-adjusting the mining reallocation profits to ensure that K-Tech receives 90% of the theoretical mining profits.
| 2.4 | Facility |
|---|
Host shall perform such janitorial services, environmental systems maintenance, power plant maintenance, internet maintenance and other actions as are reasonably required to maintain the Facility for use as data centers and customer supporting infrastructure in a condition which is suitable for the placement of the K-Tech Equipment, and telecommunications and internet access equipment and satisfies the requirements set forth in Addendum A. Host will be solely responsible for handling any complaints from third parties with respect to the noise from the K-Tech Equipment and shall hold K-Tech and its affiliates harmless from any responsibility or costs arising out of or in relation to such complaints.
| 2.5 | Surveillance |
|---|
K-Tech shall have the right to install its own surveillance software in the K-Tech Equipment to remotely monitor the operation of the K-Tech Equipment; provided, that K-Tech will not have the ability to configure the K-Tech Equipment and further that such monitoring will not interfere with the operation of the K-Tech Equipment by Host.
Host shall install video surveillance systems at the Facility as reasonably required by K-Tech, which shall enable K-Tech or its designated person to monitor the operation of the K-Tech Equipment provided that Host shall comply with all applicable data protection laws and requirements. Host shall transmit the videos recorded by the surveillance cameras to K-Tech or its designated person in real time, so as to enable K-Tech or its designated person to monitor the operation of the K-Tech Equipment twenty four (24) hours per day.
| 2.6 | Outage |
|---|
In the event of a power outage that may affect the operations under this Agreement, Host shall promptly notify K-Tech according to the following provisions:
If the Host becomes aware of a scheduled power outage in advance, it shall provide written notice to K-Tech at least twenty-four (24) hours before the scheduled start time of the power outage. The notice shall include the expected start and end times of the power outage, the reason for the outage, and any other relevant information that may assist K-Tech in making necessary arrangements.
In the case of an unscheduled power outage, the Host shall notify K-Tech within twenty-four (24) hours of the Host’s discovery of the outage and shall include an estimated time for power restoration, if applicable.
If the Host fails to provide the required power outage notification in accordance with this Section 2.6, the Host shall compensate K-Tech for the losses resulting from the delayed notification. The compensation shall be calculated based on K-Tech’s losses during the period exceeding the twenty-four hours notification window. This compensation is separated from any other forms of compensation specified in this Agreement.
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| 3. | Term, Renewal and Termination |
|---|
| 3.1 | Term |
|---|---|
| 3.1.1 | Term of this Agreement. This Agreement shall become effective as of the Effective<br>Date and, unless earlier terminated pursuant to the terms of this Agreement, shall automatically terminate upon the conclusion of the<br>Service Term set forth in the Addendum A (the “Term”). |
| --- | --- |
| 3.2 | Termination for Cause |
| --- | --- |
In addition to any other termination rights in this Agreement, a Party may terminate this Agreement for cause without the payment of any fee or charge or other liability (except for any Required Payments set forth herein, if applicable) in respect of such termination upon the occurrence of any of the following events:
| 3.2.1 | If a Party breaches this Agreement and fails to cure such breach<br>within fifteen (15) days of its receipt of written notification thereof from the other Party (or within thirty (30) days of such receipt,<br>if a reasonable plan for cure of such breach has been established by the breaching Party and substantial progress has been made in the<br>implementation thereof by the end of such initial fifteen (15) day period), the nonbreaching Parties may terminate this Agreement; |
|---|---|
| 3.2.2 | If a Party becomes bankrupt, insolvent, or has any substantial<br>part of its property become subject to any levy, seizure, assignment, application, or sale for or by any creditor or governmental authority,<br>the other Party may terminate this Agreement; |
| --- | --- |
| 3.2.3 | If a Force Majeure Event (as defined below) lasts longer than<br>thirty (30) consecutive days, either Party may terminate this Agreement; |
| --- | --- |
| 3.2.4 | If a court or other government authority having jurisdiction<br>over Host and/or the Services prohibits Host from furnishing the Services to K-Tech or if any legislation in the jurisdiction where the<br>Services are performed prohibits or is reasonably expected to prohibit the activities set forth in this Agreement, either Party may terminate<br>this Agreement; |
| --- | --- |
| 3.2.5 | If Host’s operation of the K-Tech Equipment is under the<br>Minimum Uptime Ratio for three (3) consecutive months; or |
| --- | --- |
| 3.3 | Termination by Mutual Consent |
| --- | --- |
This Agreement may be terminated by mutual written consent of both Parties. In the event of such termination, all obligations and rights arising from this Agreement shall be extinguished, except for those obligations which by their nature are intended to survive the termination of this Agreement. This Parties shall cooperate in good faith to ensure a smooth transition and winding up of any outstanding matters related to this Agreement.
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| 3.4 | Effect of Termination |
|---|
If this Agreement is terminated as provided above, this Agreement will be of no further force or effect, provided that the termination will not relieve any Party from any liability for any breach of this Agreement.
If the event of termination of this Agreement in accordance with Clauses 3.2.2, 3.2.3, 3.2.4, 3.2.5, and 3.3 hereof, neither Party is required to pay any compensation to the other Party other than the Required Payments set forth herein, if applicable. If this Agreement is terminated in accordance with Clause 3.2.1 hereof, the breach Party shall be liable to the other Party for breach of this Agreement.
Upon any expiration or termination of this Agreement (whichever is earlier), K-Tech will, at its own cost, remove all the K-Tech Equipment from the Facility within thirty (30) Business Days of such expiration or termination (whichever is earlier); provided, that if this Agreement is terminated by K-Tech due to reasons attributable to Host under Clause 3.2.1, Host shall bear the costs and expenses for removal of all the K-Tech Equipment, including the cost of transporting the K-Tech Equipment to K-Tech’s designated destination.
For the avoidance of doubt, “Business Day” means any day that is not a Saturday, Sunday, gazette public holiday, or any other day on which commercial banks are required or authorized by applicable laws to be closed in the United States of America, and China.
| 4. | Profit Allocation, Fees, and Payment |
|---|---|
| 4.1 | Profit Share. The Terms and Conditions of the Profit Share arrangement shall be set forth in the Addendum<br>A. |
| --- | --- |
| 5. | Taxes |
| --- | --- |
Each Party shall be responsible for their own taxes and related compliance.
| 6. | K-Tech Audit Rights |
|---|
Host shall employ its best effort to cooperate with client’s internal and external audit needs. Host shall maintain complete and accurate accounting records in accordance with generally accepted accounting practices, to substantiate its charges to K-Tech hereunder, during the Term of this Agreement and thereafter for a period of three (3) years from the date of final payment made under this Agreement. Such records, which related to the transactions between Host and K-Tech, shall include, but not be limited to, invoices and any and all charges set forth herein this Agreement. Host shall allow access by K-Tech, K-Tech’s employees or agents, including a third party of K-Tech’s choosing, to review Service’s Provider’s books and records for a period of up to five (5) years, at a date, time, and location agreed upon by the parties; provided, however, that (i) K-Tech provides Host with at least thirty (30) days’ notice of its intent to conduct such a review; (ii) any third party K-Tech chooses to perform such review shall not be a known competitor of Host; (iii) such third party will be subject to confidentiality obligations at least as protective as those imposed on K-Tech hereunder. K-Tech will notify Host if any review finds that Host owes payment to K-Tech within thirty (30) days of review closeout. Host shall make any payment owed to K-Tech in a timeframe consistent with the payment terms set forth herein.
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| 7. | Network, Access and Security |
|---|
| 7.1 | Network |
|---|
Host shall use its commercially best efforts to provide a minimum of 100mbps of local network connectivity to each single Ethernet segment including one set of Starlink internet equipment and a backup unit at each site. At Host’s election, either K-Tech shall be responsible for installing and maintaining a central router and working network firewall or Host will use Host’s standard firewall and Dynamic Host Configuration Protocol (“DHCP”) services without additional charges.
Host must not allow, and must take reasonable steps to prevent, the introduction of any Unauthorized Code into Host’s network, system or the Facility.
“UnauthorizedCode” in this clause means any back door, time bomb, drop dead device, virus, Trojan horse, worm, or other harmful routing, code, algorithm or hardware component designed or used: (i) to disable, erase, alter or harm any computer system, computer program, database, data, hardware or communications system, automatically, with the passage of time, or under the control of any person, or (ii) to access any computer system, computer program, database, data, hardware or communications system.
| 7.2 | Transmission over Network |
|---|
Host is solely responsible for the content of any transmissions or storage utilizing the K-Tech Equipment. The use of another organization’s network or computing resources is subject to its respective permission and usage policies. Host agrees to comply with all applicable laws with regard to the transmission, storage and use of information and content.
K-Tech agrees not to use the Services provided hereunder for illegal purposes, to interfere with or disrupt other network users, network services or network equipment.
| 7.3 | Access |
|---|
Host shall provide access, without additional charges, to the Facility and the K-Tech Equipment to K-Tech and its authorized employees, agents, contractors, subcontractors, and their respective employees (“K-Tech Personnel”), subject to the following conditions:
| 7.3.1 | K-Tech shall provide at least five (5) days’ prior written<br>notice to Host prior to any inspection of the K-Tech Equipment; |
|---|---|
| 7.3.2 | K-Tech may inspect, but not otherwise perform any maintenance<br>or repairs or otherwise interfere with, the K-Tech Equipment during normal business hours (MondayFriday); and |
| --- | --- |
| 7.3.3 | K-Tech may reasonably request immediate and/or after-hour<br>access to the Facility to perform necessary emergency maintenance and Host shall use its reasonable best efforts to accommodate K-Tech’s<br>after-hour emergency access requests. |
| --- | --- |
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For the avoidance of doubt, K-Tech’s access to the Facility to inspect the K-Tech Equipment does not otherwise entitle K-Tech to perform any maintenance, repair or emergency maintenance of the K-Tech Equipment.
| 7.4 | Security |
|---|---|
| 7.4.1 | Host represents and warrants that it shall provide reasonable<br>site security at the Facility. Host shall take reasonable and responsible measures to protect the security of all of the K-Tech Equipment<br>and ensure that access to the Facility and all of the K-Tech Equipment shall be monitored and restricted at all times. Host shall provide<br>K-Tech with prompt written notice if unauthorized access to the Facility or the K-Tech Equipment occurs. In the event of any losses or<br>damages to the K-Tech Equipment caused by a third party, Host shall provide assistance to resolve any disputes regarding such losses<br>or damages, but will not under any circumstances be liable for any such losses or damages unless due to a breach of the Agreement by<br>Host or the gross negligence or intentional and willful misconduct of Host. |
| --- | --- |
| 7.4.2 | Host represents and warrants that there will be no ownership<br>disputes regarding the Facility. Host agrees to allocate a dedicated and independent space to facilitate the operations of K-Tech Equipment.<br>This designated area must be configured to ensure that K-Tech Equipment is clearly and physically distinguished from that of other customers<br>to prevent any potential confusion or disputes. |
| --- | --- |
| 8. | POC Project Purpose and Goals: |
| --- | --- |
NOTWITHSTADING ANYTHING TO THE CONTRARY IN THIS AGREEMENT:
| 8.1 | The primary purpose of this Agreement is to conduct the Project<br>as a joint experiment to validate the efficient utilization of natural gas wellhead power for bitcoin mining and high performance computing.<br>The Parties shall collaborate to meet the following goals: |
|---|---|
| (a) | Feasibility of Wellhead Power Generation: Demonstrate that the Project can achieve and maintain a sustainable<br>Uptime Ratio of 95% or above. |
| --- | --- |
| (b) | Project Replicability: Upon completion of the Project, develop a cooperation model<br>that can be replicated for future wellhead power projects, including the preparation of a written document. |
| --- | --- |
| (c) | The Project must complete the installation, debugging, and power-on of all power generation equipment<br>and K-Tech Equipment within [the agreed period]. |
| --- | --- |
| 8.2 | Verification Period and Evaluation |
| --- | --- |
| (a) | Observation Period: The Parties agree to establish a three (3)-month observation<br>period commencing from the effective date of this Agreement (the “Observation Period”). During the Observation Period, if the<br>actual online rate falls below ninety percent (90%) of the agreed online rate, the Host shall rectify such deficiency within seven (7)<br>working days. If the online rate remains below the agreed threshold following such rectification period, the K-Tech shall have the right<br>to terminate this Agreement immediately upon written notice to the Host. |
| --- | --- |
| (b) | Post-Observation Compensation: Following the expiration of the Observation Period,<br>if the actual online rate falls below ninety percent (90%) of the agreed online rate in any subsequent period, the Host shall be obligated<br>to provide compensation to the K-Tech. The compensation amount shall be calculated as follows: (90% - actual online rate) × theoretical<br>total revenue of the mining machines. |
| --- | --- |
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| (c) | Project Completion Verification: Host shall provide usage or test reports, or share<br>relevant project usage and testing information, to K-Tech for confirmation. Upon K-Tech’s written confirmation of such reports or information,<br>the project experiment shall be deemed completed. |
|---|---|
| 9. | Other Responsibilities of Host; Representations and Warranties of Host and K-Tech |
| --- | --- |
| 9.1 | Service Standards |
| --- | --- |
Host shall at all times use K-Tech Equipment, maintain the Facility and provide the Services, in a safe and respectful manner consistent with the industry prudent standards, and according to the requirements as agreed by the Parties in writing. K-Tech shall provide one (1) month remote video training on the operation and maintenance of the K-Tech Equipment to Host and its designated employees and shall assign a competent technician to act as the main contact for technical support. The time and frequency for such training shall be mutually agreed between the Parties.
Host shall be liable for the integrity and security of K-Tech Equipment. Host shall provide industry standard network security services to identify potential security breaches involving K-Tech Equipment or the Facility. Host shall not provide any tests, tools, or techniques intended to gain unauthorized access to the K-Tech Equipment or K-Tech’s personal property.
| 9.2 | Compliance with Laws |
|---|
Host’s use and operation of the Facility and the K-Tech Equipment located at the Facility, must at all times conform to all applicable laws, including international laws (to the extent applicable), the laws of the country in which Host is doing business, and the laws of the country where the Facility is located.
| 9.3 | License and Permits |
|---|
Host shall be, at its own cost and expense, solely responsible for obtaining and maintaining all necessary and required licenses, permits, consents, or approvals from any federal, state or local government, which may be necessary to use and operate the Facility and to install, possess, maintain and operate the K-Tech Equipment.
| 9.4 | Representations and Warrantiesby Host |
|---|
Host represents and warrants to K-Tech that that as of the date of this Agreement:
| 9.4.1 | Host (a) is properly constituted and organized, and (b) has<br>full power and authority to enter into this Agreement and perform its obligations hereunder; |
|---|---|
| 9.4.2 | The performance by Host of its obligations hereunder will not<br>violate any applicable laws or the terms of any other agreement to which it is a party or by which it is bound, or require the consent<br>of any third party; |
| --- | --- |
| 9.4.3 | The Services provided by Host as contemplated under this Agreement<br>do not and will not infringe, violate, or misappropriate the intellectual property rights of any person or entity anywhere in the world;<br>and shall be performed with a professional level of quality conforming to generally accepted industry standards and in compliance, in<br>all material respects, with all applicable laws, regulations and rules; |
| --- | --- |
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| 9.4.4 | Host has exercised due skill and care in selecting the Facility, that the Facility<br>is appropriate for its intended use, and that it is not aware of any reason why it cannot provide the Services at the Facility. The Facility<br>will conform in all material respects to the descriptions set out in Addendum A and is and shall remain in good operating condition<br>and fit for use for mining operations; |
|---|---|
| 9.4.5 | Host has full power, authority and right to access and use the<br>Facility, and the electricity and water in the Facility, and such access or use will not violate the terms of any other agreement or<br>arrangements to which it is a party or by which it is bound. The underlying lease (if any), with respect to the Facility, or other superior<br>real estate in the Facility, has a term that extends past the Term of this Agreement; |
| --- | --- |
| 9.4.6 | Host has not granted, and will not grant, any third party any<br>security interest in or lien on the K-Tech Equipment, or otherwise allow any third party to dispose of the K-Tech Equipment. The Parties<br>agree that, although Host may store, use, or install the K-Tech Equipment at its Facility, K-Tech Equipment is and shall remain the exclusive<br>property of K-Tech and shall not be deemed to become a fixture of the Facility or otherwise so related to the Facility as to give rise<br>to a similar interest to Host under applicable real estate law. Host shall not grant or otherwise facilitate any third party to obtain<br>any lien, security interest, or other encumbrance to attach to any of K-Tech Equipment or any cryptocurrencies generated by the K-Tech<br>Equipment (other than with respect to the Host Revenue portion thereof), and shall defend and hold K-Tech harmless from any claim by<br>a third party of any such lien, security interest, or encumbrance. Host shall take all necessary action to effectuate the provisions<br>of this Agreement, including the grant of access to K-Tech, notwithstanding any adverse condition of Host, such as bankruptcy or other<br>insolvency proceedings. Host shall promptly notify K-Tech if any such written claim or written notice related to the K-Tech Equipment<br>was received by Host. |
| --- | --- |
| 9.5 | Representations and Warrantiesby K-Tech |
| --- | --- |
K-Tech represents and warrants to Host that that as of the date of this Agreement:
| 9.5.1 | K-Tech (a) is properly constituted and organized, and (b) has<br>full power and authority to enter into this Agreement and perform its obligations hereunder; |
|---|---|
| 9.5.2 | The performance by K-Tech of its obligations hereunder will<br>not violate any applicable laws or the terms of any other agreement to which it is a party or by which it is bound, or require the consent<br>of any third party; |
| --- | --- |
| 9.5.3 | Neither it, nor its affiliates, nor any of its or their respective<br>directors, officers, nor to its or their knowledge, their employees, representatives, advisers, or agents, is a subject to sanctions<br>and neither it, nor its affiliates, nor to their knowledge, its or their respective representatives, or agents, has or will engage in<br>any dealings or transactions (a) with any person subject to sanctions in connection with this Agreement, (b) involving actions subject<br>to sanctions laws or (C) otherwise in violation of sanctions laws; |
| --- | --- |
| 9.5.4 | No administrator, receiver or equivalent person has been appointed<br>in respect of the whole or any part of the assets or undertaking of K-Tech and no request for bankruptcy or other similar proceeding<br>has been filed or is contemplated by K-Tech; and |
| --- | --- |
| 9.5.5 | There are no legal proceedings to which K-Tech is a party or<br>which are threatened against K-Tech, which might affect its ability to perform its obligations under this Agreement. |
| --- | --- |
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| 10. | Insurance |
|---|
For so long as there is any K-Tech Equipment on the site of the Facility or otherwise in the possession of Host, Host shall secure such K-Tech Equipment on-site according to industry best practices. During such period, K-Tech shall maintain property, casualty and general liability insurance protecting all of the K-Tech Equipment from theft, damage or other harm, with one or more insurance companies with a local reputable insurance company and with policy limits customary for the industry. Upon request, K-Tech shall provide to Host one or more certificates evidencing such insurance coverages. The cost for placement of the foregoing insurance shall be borne by K-Tech.’’
Without limiting any other obligation or liability of Host under this Agreement, Host agrees that upon execution and throughout the term of this Agreement, Host shall procure and maintain the following insurance coverage:
Commercial General Liability Insurance with limits of not less than One Million Dollars ($1,000,000) per occurrence,
Workers Compensation with statutory limits as applicable in any State in which Host conducts business and Employers Liability Insurance with limits of not less than One Million Dollars ($1,000,000).
Certificate of Insurance. Upon executing this Agreement or commencing work under this Agreement, Host will provide and maintain a valid Certificate/Proof of Insurance evidencing all required coverage per this Agreement. Said Certificate of Insurance shall include evidence as necessary to demonstrate that all required conditions have been met.
| 11. | K-Tech Equipment; Inspection; Installation; |
|---|
| 11.1 | Ownership of K-Tech Equipment |
|---|
K-Tech represents, warrants and covenants that it owns or has the legal right and authority, and will continue to own or secure the legal right and authority, during the Term of this Agreement, to use the K-Tech Equipment and software located in the Equipment Space.
| 11.2 | K-Tech Equipment in Good WorkingOrder Upon Delivery |
|---|
K-Tech shall ensure all K-Tech Equipment is in good working order upon arrival at the Facility. It is understood that K-Tech is responsible for any costs associated with the troubleshooting and repair of K-Tech Equipment received in non-working order upon arrival at the Facility, subject to the inspection requirements set forth in Clause 11.3, including labor and parts. Host is not responsible in any way for installation delays or loss of profits as a result of the K -Tech Equipment deemed not to be in good working order upon arrival at the Facility. Upon acceptance or deemed acceptance of the K-Tech Equipment pursuant to Clause 11.3 and subject to the provisions of Clause 2.2, Host shall be responsible for the routine troubleshooting, maintenance and repair of the K-Tech Equipment.
| 11.3 | Inspection |
|---|
Host shall, within thirty (30) calendar days upon receipt of the K-Tech Equipment at the Facility (the “Inspection Period”), inspect the K-Tech Equipment and confirm that the K-Tech Equipment is in good working order in writing. In the event that Host identifies any defect in the K-Tech Equipment, Host shall notify K-Tech of each equipment claimed to be defective within the Inspection Period, together with the particular defect for each such equipment. The Parties agree to work in good faith to resolve any claim that any K-Tech Equipment is defective. K-Tech shall properly deal with any K-Tech Equipment that is claimed to be defective by Host during the Inspection Period, including but not limited to, repairing the defective K-Tech Equipment, or replacing the defective K-Tech Equipment with the equipment functioning properly. If Host fails to confirm the good working condition of the K-Tech Equipment in writing or notify K-Tech of any defect in the K-Tech Equipment within the Inspection Period, it shall be deemed that Host has accepted the K-Tech Equipment and confirmed that the K-Tech Equipment are in good working condition upon the expiry of the Inspection Period.
11
| 11.4 | Installation |
|---|
Host shall install, configure and test, at its sole cost and expense, all the K-Tech Equipment after acceptance of the equipment in accordance with the requirements as agreed by the Parties, and make sure that the K-Tech Equipment starts operation within six (6) months upon expiry of the Inspection Period. K-Tech shall provide all reasonably necessary off-site technical support and assistance required to facilitate the installation of the K-Tech Equipment such that the K-Tech Equipment can start operation within six (6) months upon expiry of the Inspection Period. Host shall send K-Tech the serial numbers of the online miners to K-Tech within three (3) days of such miners’ coming online.
Host shall inspect the K-Tech Equipment regularly and use its commercially reasonable efforts to maintain the K-Tech Equipment in good working order throughout the Term of this Agreement, in accordance with the terms of this Agreement.
| 12. | Limitation of Liability |
|---|
IN NO EVENT SHALL ANY PARTY BE LIABLE TO THE OTHER PARTY OR TO ANY THIRD PARTY FOR ANY EXEMPLARY, SPECIAL, OR PUNITIVE DAMAGES WHETHER ARISING OUT OF BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, REGARDLESS OF WHETHER SUCH DAMAGE WAS FORESEEABLE AND WHETHER OR NOT THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE.
| 13. | Indemnification |
|---|
Host shall indemnify, defend and hold harmless K-Tech and its respective affiliates, subsidiaries, predecessors, successors, assigns and each of their respective directors, officers, owners, investors, employees, agents, contractors and representatives from and against any and all claim and Losses resulting from or arising out of: (i) any inaccuracy in or breach or non-performance of any of Host’s representations and warranties, or other covenants or agreements in this Agreement in any material respects, (ii) the failure of Host to perform or observe any material covenant, agreement or other provision to be performed or observed by it pursuant to this Agreement, (iii) any legal, regulatory or governmental action against or including Host, (iv) any violation of any applicable law or regulation with respect to the Facility and the Services, (v) any gross negligence, criminal act, fraudulent act, fraudulent omission or willful misconduct by Host, its affiliates or any Host employees, or (vi) any damage, loss or destruction of any tangible, real or personal property while in the possession or control of Host or otherwise to the extent caused by any act, omission, or willful misconduct of Host, its affiliates, representatives or agents. If and to the extent that such indemnification is unenforceable for any reason, Host will make the maximum contribution to the payment and satisfaction of such indemnified liabilities permissible under applicable laws.
12
K-Tech (the “Indemnified Party”) will promptly give notice to Host (the “Indemnifying Party”) in writing upon actual knowledge of any Loss. Notwithstanding the foregoing, lack of prompt notice shall not reduce or eliminate the Indemnifying Party’s obligations hereunder except and only to the extent that the Indemnifying Party has suffered actual prejudice as a result of such lack of prompt notice. The Indemnified Party shall confer with the Indemnifying Party concerning the defense of any Loss. In the event that the Indemnifying Party and/or its insurer has assumed the full defense of the Loss without reservation or qualification of any kind, the Indemnifying Party and/or its insurer shall retain full control over the defense. If the Indemnifying Party or its insurer has assumed the defense with reservation or qualification, the Indemnified Party shall control the defense including the right to select counsel of its choosing, at the expense of the Indemnifying Party. All Parties agree to cooperate in the defense of any Loss.
| 14. | Confidentiality |
|---|
From time to time during the term of this Agreement, either Party (as the “Disclosing Party”) may disclose or make available to the other Party (as the “Receiving Party”), non-public, proprietary, and confidential information of Disclosing Party that, if disclosed in writing or other tangible form is clearly labelled as “confidential,” or if disclosed orally, is identified as confidential when disclosed and within three (3) days thereafter, is summarized in writing and confirmed as confidential (“Confidential Information”); provided, however, that Confidential Information does not include any information that: (a) is or becomes generally available to the public other than as a result of Receiving Party’s breach of this Clause 14; (b) is or becomes available to the Receiving Party on a non-confidential basis from a third-party source, provided that such third party is not and was not prohibited from disclosing such Confidential Information; (c) was in Receiving Party’s possession prior to Disclosing Party’s disclosure hereunder; or (d) was or is independently developed by Receiving Party without using any Confidential Information. The Receiving Party shall: (x) protect and safeguard the confidentiality of the Disclosing Party’s Confidential Information with at least the same degree of care as the Receiving Party would use to protect its own Confidential Information, but in no event with less than a commercially reasonable degree of care; (y) not use the Disclosing Party’s Confidential Information, or permit it to be accessed or used, for any purpose other than to exercise its rights or perform its obligations under this Agreement; and (z) not disclose any such Confidential Information to any person or entity, except to the Receiving Party’s affiliates and its or their employees, officers, directors, shareholders, partners, members, managers, agents, independent contractors, Hosts, sublicensees, subcontractors, attorneys, accountants, and financial advisors who need to know the Confidential Information to assist the Receiving Party, or act on its behalf, to exercise its rights or perform its obligations under this Agreement.
If the Receiving Party is required by applicable law or legal process to disclose any Confidential Information, it may do so but shall, prior to making such disclosure, use commercially reasonable efforts to notify Disclosing Party of such requirements to afford Disclosing Party the opportunity to seek, at Disclosing Party’s sole cost and expense, a protective order or other remedy.
13
Notwithstanding the foregoing, Host acknowledges and agrees that the ultimate parent company of K-Tech is a U.S. publicly traded company and may be required to disclose this Agreement and its related terms in order to comply with applicable securities laws, including its disclosure obligations under the U.S. Securities Exchange Act of 1934, as amended. K-Tech may publicly announce that they have entered into this Agreement without disclosing the details thereof, but such public announcement may contain details of the general nature of the Services, the names of the Parties, the MWHrs of load power provided for in the Agreement, the anticipated operational time by when such MWHrs will be available, and the general nature of the power type (e.g., green).
| 15. | Intellectual Property |
|---|
| 15.1 | General |
|---|
Nothing in this Agreement shall be deemed to grant to either Party any rights or licenses, by implication, estoppel or otherwise, to any of the other Party’s intellectual property rights. Neither Party shall contest or challenge, or assist any third party in contesting or challenging, the validity or enforceability of any of the other Party’s intellectual property rights.
| 15.2 | Use of Trademarks |
|---|
Neither Party may use the other Party’s trademarks, service marks, trade names, copyrights, other intellectual property rights or other designations in any promotion, publication or press release without the prior written consent of the other Party in each case, which consent shall not be unreasonably withheld or unduly delayed.
| 16. | Miscellaneous |
|---|---|
| 16.1 | No Other Representations |
| --- | --- |
The Parties have not made or relied upon any representations, understandings, or other agreements not specifically set forth in this Agreement.
| 16.2 | Whole Agreement |
|---|
This Agreement, the Addendums, and any documents referenced in this Agreement represent the whole Agreement between the Parties and is a final, complete and exclusive statement of the terms of this Agreement. No course of prior dealing between the Parties shall be relevant or admissible to supplement, explain, or vary any of the terms of this Agreement.
| 16.3 | Waiver; Severability |
|---|
The waiver of any breach or default does not constitute the waiver of any subsequent breach or default. If any provision of this Agreement is held to be illegal or unenforceable, it shall be deemed amended to conform to the applicable laws or regulations, or, if it cannot be so amended without materially altering the intention of the Parties, it shall be stricken and the remainder of this Agreement shall continue in full force and effect.
| 16.4 | Amendment |
|---|
Amendments, modifications, or supplements to this Agreement must be in writing signed by authorized representatives of both Parties.
14
| 16.5 | Assignment |
|---|
Neither K-Tech nor Host shall assign, delegate or transfer all or part of its rights and/or its obligations under this Agreement, whether voluntarily, involuntarily, or by operation of law, to any third parties without the prior written consent of the other Party. Notwithstanding the foregoing, nothing in this Agreement shall prevent or restrict a Party from subcontracting or otherwise disposing of any of its obligations under this Agreement to any affiliate or any entity that is controlled (directly or indirectly) by, or under common control with, such Party; provided, that in the case of such a subcontracting or disposition by K-Tech such entity is a U.S. corporation.
| 16.6 | Force Majeure |
|---|---|
| 16.6.1 | If any Party to this Agreement is affected by a force majeure<br>event (a “Force Majeure Event”), which means any event which is beyond the reasonable control of the affected Party,<br>and which is unforeseeable, or unavoidable and insurmountable even though foreseeable and which occurs after the Operational Date of<br>the K-Tech Equipment in the Facility, makes it objectively impossible or impractical for the affected Party to perform this Agreement<br>in whole or in part. Such events include but are not limited to flood, fire, drought, typhoon, earthquake, and other acts of God, transportation<br>accident, strike, riots, acts of government, tariffs and international trade barriers, and war, which prevents it from performing all<br>or part of any obligation under this Agreement, the performance of such obligation shall be suspended during the duration of the Force<br>Majeure Event. |
| --- | --- |
| 16.6.2 | The Party claiming to have been affected by a Force Majeure<br>Event shall notify the other Party in writing of the occurrence of the Force Majeure Event in the shortest possible time and shall provide<br>the other Party with the appropriate evidence concerning such event and its duration by a written notice within twenty-four (24) hours<br>after the occurrence of such Force Majeure Event. The Party claiming that a Force Majeure<br>Event renders its performance of this Agreement objectively impossible or impractical shall use its commercially reasonable efforts to<br>eliminate or mitigate the effect of such Force Majeure Event on its performance of its obligations under this Agreement. |
| --- | --- |
| 16.6.3 | The Parties shall, immediately after occurrence of a Force Majeure<br>Event, determine how to perform this Agreement through friendly negotiations. After the elimination or termination of the Force Majeure<br>Event, the Parties shall immediately resume performance of their respective obligations under this Agreement. |
| --- | --- |
| 16.7 | Governing Law and Venue |
| --- | --- |
| 16.7.1 | This Agreement, and any dispute between or among the Parties<br>or their subsidiaries, affiliates or related entities arising out of, relating to, or in connection with this Agreement shall be governed<br>by the laws of the state of New York, United States of America, and also in accordance with U.S. federal law to the extent applicable,<br>without giving to any conflicts of law rule or principle that might require or permit the application of the laws of another jurisdiction. |
| --- | --- |
15
| 16.7.2 | The Parties agree that any dispute between or among them or<br>their subsidiaries, affiliates or related entities arising out of, relating to or in connection with this Agreement, will be resolved<br>in accordance with a confidential two-step dispute resolution procedure involving: (i) pre-arbitration where the principals of the Parties<br>shall meet within fifteen (15) Business Days upon request by any Party in the event of a dispute and that arbitration may be filed in<br>accordance with the following subclause (ii) only if the Parties fail to reach an agreement after such meeting or within thirty (30)<br>Business Day from the date of such meeting, whichever is sooner, and (ii) binding arbitration under the auspices of the American Arbitration<br>Association (“AAA”) pursuant to its then current Commercial Arbitration Rules and Mediation Procedures (the “AAACommercial Rules”). The arbitration (if the dispute is not resolved by mediation) will be conducted by a single AAA arbitrator,<br>mutually selected by the Parties, as provided for by the AAA Commercial Rules. If the Parties fail to mutually agree upon the arbitrator,<br>AAA shall select an arbitrator who has experience with international companies. The Parties agree that discovery will be conducted in<br>accordance with the AAA Commercial Rules. In accordance with the AAA Commercial Rules (a copy of which is available through AAA’s<br>website, www.adr.org), the arbitrator’s award will consist of a written statement as to the disposition of each claim and the relief,<br>if any, awarded on each claim. The Parties understand that the right to appeal or to seek modification of any ruling or award by the<br>arbitrator is limited under state and federal law. Any award rendered by the arbitrator will be final and binding, and judgment may be<br>entered on it in any court of competent jurisdiction. Nothing contained herein will restrict either Party from seeking temporary injunctive<br>relief in a court of law. In the unlikely event the AAA refuses to accept jurisdiction over a dispute, the Parties agree to submit to<br>Judicial-Arbitration-Mediation Services (“JAMS”) mediation and arbitration applying the JAMS Comprehensive Arbitration<br>Rules and Procedures. The seat of arbitration shall be New York. The language of the arbitration proceedings and written decisions or<br>correspondence shall be English. |
|---|---|
| 16.8 | Relationship of the Parties |
| --- | --- |
The Parties agree that their relationship hereunder is in the nature of independent contractors. Neither Party shall be deemed to be the agent, partner, joint venturer or employee of the other, and neither shall have any authority to make any agreements or representations on the other Party’s behalf. Each Party shall be solely responsible for the payment of compensation, insurance and taxes of its own personnel, and such personnel are not entitled to the provisions of any employee benefits from the other Party. Neither Party shall have any authority to make any agreements or representations on the other Party’s behalf without the other Party’s written consent.
| 16.9 | Notices |
|---|
Notices hereunder shall be deemed properly given when delivered, if delivered in person, or when transferred via overnight courier and upon delivery, or in the case of email twenty four (24) hours from being sent. Notices shall be delivered to the addresses indicated below until such time as either Party informs the other in writing of a change:
To K-Tech
Attention: [Yiu Wah Kwok]
Address: [7A Mai On Industrial Bldgs, 17-21 Kung Yip Street, Kwai Chung, Hong Kong]
E-mail: [[email protected]]
To Host
Attention: [Jim Zhou]
Address: [SUITE 1107 707 7 AVE SW CALGARY AB T2P 3H6]
E-mail: [[email protected]]
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| 16.10 | Survival |
|---|
Those obligations that expressly or by their nature survive or extend beyond this Agreement, including any termination or expiration thereof, shall so survive. Such obligations include, without limitation, all payment, indemnity, warranty, confidentiality, insurance, and risk allocation provisions. This Clause applies irrespective of which Party terminates this Agreement.
| 16.11 | Interpretation |
|---|
Any rule of construction to the effect that ambiguities are to be resolved against the drafting Party shall not apply to the interpretation and construction of this Agreement, and this Agreement shall be construed as having been jointly drafted by the Parties. The titles and headings for particular paragraphs, sections and subsections of this Agreement have been inserted solely for reference purposes and shall not be used to interpret or construe the terms of this Agreement.
| 16.12 | Counterparts |
|---|
This Agreement may be executed in one or more counterparts, all of which when fully executed and delivered by both Parties to this Agreement and taken together shall constitute a single agreement, binding against each of the Parties. To the maximum extent permitted by law or by any applicable governmental authority, this Agreement may be transmitted by facsimile, electronic mail (including .pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
| 16.13 | Conflict with this Agreement |
|---|
In the event of any conflict or discrepancy between the terms and conditions of this Agreement (including its amendments), the terms and conditions of this Agreement shall prevail.
[The remainder of this page was intentionally left blank.]
17
EXECUTION
The Parties signing below represent that they are authorized to enter into this Agreement on behalf of the respective Parties. IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the day and year first above written.
| FOR AND ON BEHALF OF [K-Mark Technology Limited] |
|---|
| /s/ YIU WAH KWOK |
| Signature |
| YIU WAH KWOK |
| --- |
| Print Name |
| DIRECTOR |
| --- |
| Title |
FOR AND ON BEHALF OF [Aurora AZ Energy Ltd.]
| /s/ Jing Shan Zhou |
|---|
| Signature |
| Jing Shan Zhou |
| Name |
| CEO |
| Title |
Addendum A
Service Term: [12] Months
Facility:
Located at [Township Road 512 and Range Road 193 Beaver County, Alberta, Canada]
Requirements of the Facility
| Infrastructure | The Roof | Water-tight |
|---|---|---|
| The Ground | Flat, clean and dry | |
| Environment Temperature | -5℃ +50℃ | |
| Lighting | Normal lighting | |
| Fire Power | Fire alarm facilities | |
| Power | Power Supply | [Total power = Number of miners × Theoretical power] |
| Voltage | 400V AC 50~60Hz | |
| All-in Electricity and Maintenance Cost Rate | USD $0.035/KWh. (plus 5% GST) | |
| Cooling | Water Curtain(Optional) | It depends on the head and flow of the pump, the volume of the pool, the position of the ball valve, the thickness of the water curtain and the number of air changes |
| Network | Starlink | [ ] |
| CCTV | Coverage | Inside/Outside/Perimeter |
| Capacity | / | (2.6) MW starting Capacity, 100MW by year 2030 |
| --- | --- | --- |
| Total Rack Space | / | (2.6) MW of hardware and K-Tech provided container boxes. |
| Minimum Uptime Ratio | / | 95% |
| Electricity Cost Prepayment | / | / |
Hosting Services: including without limitation: rack systems, electrical power, water, fire and smoke detection and internet access.
Calculation of Uptime Ratio: in any given month or other specific time period, Uptime Ratio = [Average Hashing Time of K-Tech Equipment (calculated in minutes)] / [total time passed in such period (calculated in minutes)].
| ● | Average Hashing Time of K-Tech Equipment = [Total Hashing Time of all K-Tech Equipment]/[the amount<br> of K-Tech Equipment] |
|---|
Network: Host shall maintain at least two (2) sets of Starlink equipment dedicated to the K-Tech Equipment.
Uptime Exempt Events:
| 1. | When<br>an Extreme Cold Warning or Blizzard Warning from https://www.canada.ca is in effect for the City of Calgary and the resulting conditions<br>affect the uptime of K-Tech Equipment. |
|---|---|
| 2. | Routine maintenance for a natural gas generator that has<br>accumulated more than 4500 hours of runtime since its last maintenance, provided that such maintenance shall not last longer than seven<br>(7) calendar days. Host shall use best effort to rotate the maintenance of the generators and keep the Uptime Ratio above 65% during<br>the 3-day maintenance period. |
| --- | --- |
| 3. | Annual routine maintenance and checks for natural gas well/s,<br>provided that such maintenance shall not last longer than seven (7) calendar days. |
| --- | --- |
| 4. | Events upon K-Tech’s written approval. |
| --- | --- |
K-Tech Equipment
| Batch # | Operational Date (the “Operational Date”) | Delivery Date | Model | Hash Rate | Quantity | Unit Price |
|---|---|---|---|---|---|---|
| 1 | [●] | Within<br> thirty (30) calendar days from the date on which Host issues a formal call for delivery | TBD | [●] | 700 | US$<br> TBD |
| 2 | [●] | Containers | [●] | [6] | US$<br> TBD |
Metering: Host shall set up separate meters for all K-Tech Equipment and share all the readings with K-Tech. The actual reading of the meters shall be used.
Addendum B Bank Account Details
Host’s Bank Account Details
Swift Code: [ROYCCAT2CIC]
Bank Name: [Royal Bank of Canada●]
Bank Address: [339 8 Ave SW, Calgary, AB T2P 1C9●]
Beneficiary Account Number: [●02539 400-139-2]
Beneficiary Name: [●Aurora AZ Energy Ltd.]
Beneficiary Address: [●SUITE 1107 707 7 AVE SW CALGARY AB T2P 3H6]
Exhibit 10.2
JOINT VENTURE AGREEMENT
(for AI and High-Performance ComputingInfrastructure)
THIS JOINT VENTURE AGREEMENT (this “Agreement”) is entered into as of February26, 2026 (the “Effective Date”), by and between:
| 1. | K-Mark Technology Limited, a company<br>incorporated under the laws of Hong Kong SAR, with its principal place of business / registered office at 7A Mai On Industrial Bldg, 17-21<br>Kung Yip Street, Kwai Chung, Hong Kong; and |
|---|---|
| 2. | Aurora AZ Energy Ltd., a company<br>incorporated under the laws of Alberta, Canada, with its principal office at 1107-707 7 Avenue Southwest Calgary AB T2P 3H6 (“Aurora”). |
K-Tech and Aurora are each referred to herein individually as a “Party” and collectively, the “Parties”.
RECITALS
A. K-Tech is a premier technology firm specializing in ASIC high-performance chip procurements, hardware manufacturing, software services, and the design, development, and operation of high-density computing data centers.
B. Aurora is an energy company and a specialist in wellhead energy solutions and related infrastructure, focused on converting natural gas and other energy resources into sustainable power for high-density computing.
C. The Parties desire to form a joint venture to develop, own, finance, construct, operate and maintain one or more artificial intelligence and high-performance computing (“AI/HPC”) data center projects with initial IT capacity of more than 100 MW and potential expansion up to 500 MW (each, a “Project”, and collectively, the “Projects”), on sites located in Alberta, Canada, which are controlled and supplied with power by Aurora.
D. The Parties intend that the joint venture be conducted through a limited liability company to be formed pursuant to this Agreement, with K-Tech primarily responsible for design, development, construction management and operations of the data center facilities, and Aurora primarily responsible for providing (directly or through its affiliates or third parties) suitable sites and energy infrastructure.
NOW,THEREFORE, in consideration of the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the Parties agree as follows:
ARTICLE 1: DEFINITIONS
1.1Defined Terms. Capitalized terms used but not otherwise defined in this Agreement shall have the meanings commonly used in joint venture agreements, or as the context requires. The Parties may agree a more detailed definition schedule in a separate annex.
ARTICLE 2: FORMATION AND PURPOSE
2.1 Formation of the Company.
| ● | (a) The Parties shall form a limited liability company under the laws of Hong Kong SAR, to be named<br>“KTech Aurora AI Infrastructure Limited” or such other name as the Parties may mutually agree (the “Company”). |
|---|---|
| ● | (b) The Parties shall cause a Certificate of Formation (or equivalent organizational document) of the<br>Company to be filed with Hong Kong SAR (or other applicable authority) in accordance with applicable law. |
| --- | --- |
2.2 Purpose. The purpose of the Company shall be to:
| ● | (a) identify, acquire (by lease, license or purchase), develop, own, finance, construct, operate, maintain<br>and expand one or more AI/HPC data center Projects; |
|---|---|
| ● | (b) enter into all agreements necessary or desirable for such purposes, including site leases, power<br>supply agreements, construction contracts, equipment purchase agreements, offtake or hosting agreements, and operations and maintenance<br>agreements; and |
| ● | (c) engage in any other activities that are reasonably incidental or related to the foregoing, as approved<br>by the Board (as defined below). |
2.3No Other Business. The Company shall not engage in any business other than as expressly set forth in Section 2.2, except with the prior written approval of both Parties.
ARTICLE 3: CAPITAL STRUCTURE AND CONTRIBUTIONS
3.1 Equity Interests.
| ● | (a) The equity interests in the Company (the “Units”) shall initially be owned as follows,<br>subject to adjustment in accordance with this Agreement: |
|---|---|
| o | (i) K-Tech: 75% of the Units; |
| --- | --- |
| o | (ii) Aurora: 25% of the Units. |
| ● | (b) The Parties may agree different ownership percentages for specific Projects in separate project-level<br>vehicles, provided such arrangements are documented in written amendments or project-specific joinder agreements. |
| --- | --- |
3.2 Initial Capital Contributions.
| ● | (a) On or prior to the Effective Date (or such other date as the Parties may agree),<br>each Party shall make the cash and/or in-kind capital contributions agreed between them. |
|---|---|
| ● | (b) In-kind contributions (including any site rights, permits, equipment or work-in-progress) shall<br>be valued as mutually agreed by the Parties in writing and reflected in the Company’s books and capital accounts. |
3.3 Additional Capital Contributions.
| ● | (a) If the Board determines in good faith that additional capital is required for any Project or the<br>Company’s operations, it may issue a written capital call notice to the Parties specifying: |
|---|---|
| o | (i) the aggregate amount of additional capital required; |
| --- | --- |
| o | (ii) the purpose(s) of such capital; and |
| o | (iii) each Party’s pro rata share based on its then-current ownership percentage. |
3.4No Other Obligations to Contribute. Except as expressly provided in this Agreement or otherwise mutually agreed in writing, no Party shall be obligated to make capital contributions or provide financing to the Company.
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ARTICLE 4: GOVERNANCE
4.1 Board of Managers.
| ● | (a) The business and affairs of the Company shall be managed by a board of managers (the “Board”). |
|---|---|
| ● | (b) The Board shall consist of two (2) managers. K-Tech shall have the right to appoint one (1) manager;<br>Aurora shall have the right to appoint one (1) manager. |
| ● | (c) Each Party may remove and replace its appointed managers upon written notice to the other Party<br>and the Company. |
4.2 Meetings and Voting.
| ● | (a) The Board shall meet at least quarterly, or more frequently as reasonably required. Meetings may<br>be held in person, by video conference or teleconference. |
|---|---|
| ● | (b) Each manager shall have one vote. Unless otherwise provided herein, matters shall be decided by<br>simple majority vote of the managers present and voting. |
| ● | (c) The presence (in person or by remote means) of a majority of the managers (including at least one<br>manager appointed by each Party) shall constitute a quorum. |
4.3Major Decisions. Notwithstanding Section 4.2, the following matters (“Major Decisions”) shall require the prior written approval of both Parties (or all managers):
| ● | (a) approval or material amendment of any annual business plan or budget for the Company or any Project; |
|---|---|
| ● | (b) any capital call or incurrence of indebtedness above 100,000 USD (or equivalent) outside an approved<br>budget; |
| ● | (c) any sale, lease, transfer or encumbrance of all or substantially all of the Company’s or<br>any Project’s assets; |
| ● | (d)<br>entry into, material amendment or termination of any key Project agreement, including: |
| o | (i) site leases or purchase agreements; |
| --- | --- |
| o | (ii) power supply or fuel supply agreements; |
| o | (iii) construction or EPC contracts exceeding 100,000 USD; |
| o | (iv) any offtake, hosting or capacity lease agreements exceeding 1 MW or 1 year; |
| ● | (e) admission of any new member or issuance of additional equity securities; |
| --- | --- |
| ● | (f) merger, consolidation, recapitalization or dissolution of the Company; and |
| ● | (g) any change of governing law or dispute resolution provisions of this Agreement. |
4.4Day-to-Day Management. Subject to the authority of the Board and the Major Decisions list, the Company’s officers shall manage day-to-day operations, pursuant to terms set out in management or services agreements approved by the Board.
ARTICLE 5: ROLES AND RESPONSIBILITIES
5.1Aurora Responsibilities. Subject to applicable approvals and Project-specific agreements, Aurora shall:
| ● | (a) identify and secure suitable Project sites, including any required surface or subsurface rights,<br>access easements and zoning approvals; |
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| ● | (b) design, procure, construct and/or arrange for energy infrastructure (including wellhead generation,<br>gas handling, electrical distribution, interconnection facilities and related systems) to provide reliable power to the Projects consistent<br>with agreed technical specifications; |
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| ● | (c) obtain, or assist in obtaining, all permits and approvals necessary for the energy infrastructure<br>and site use; and |
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| ● | (d) perform such other tasks as may be set forth in a site and power services agreement between the Company<br>and Aurora or its Affiliate. |
5.2K-Tech Responsibilities. Subject to applicable approvals and Project-specific agreements, K-Tech shall:
| ● | (a) design the AI/HPC data center facilities, including building layout, rack configuration, cooling,<br>electrical and network systems; |
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| ● | (b) manage or oversee construction of the data center facilities and integration with the energy infrastructure; |
| ● | (c) supply or procure computing hardware, ASIC equipment and related components as agreed; |
| ● | (d) operate and maintain the data center facilities, including monitoring, maintenance, and performance<br>optimization; and |
| ● | (e) perform such other tasks as may be set forth in a development and operations services agreement<br>between the Company and K-Tech or its Affiliate. |
5.3 Standards of Performance. Each Party shall perform its responsibilities:
| ● | (a) with due care and in accordance with good industry practices for hyperscale AI/HPC data centers; |
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| ● | (b) in material compliance with applicable laws and permits; and |
| ● | (c) in a manner designed to meet agreed performance and availability targets set out in Project-specific<br>documents. |
ARTICLE 6: DISTRIBUTIONS; ALLOCATIONS
6.1Distributions. Subject to applicable law, financing covenants and reasonable reserves approved by the Board, the Company shall distribute available cash to the Parties in proportion to their respective ownership percentages, at such times as the Board may determine.
6.2Tax Allocations. Profits, losses and other tax items shall be allocated among the Parties in accordance with their ownership percentages and in compliance with applicable tax laws and regulations, as the Company’s tax advisors may recommend.
ARTICLE 7: TRANSFERS; PREEMPTIVE RIGHTS
7.1 Restrictions on Transfers. No Party may transfer any of its Units except:
| ● | (a) with the prior written consent of the other Party; or |
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| ● | (b) to one of its wholly owned Affiliates, provided that such Affiliate executes a joinder agreeing<br>to be bound by this Agreement and the transferring Party remains jointly and severally liable. |
7.2 Right of First Offer / Refusal.
| ● | (a) If a Party (the “Selling Party”) wishes to transfer its Units<br>(other than to a permitted Affiliate), it shall first offer such Units to the other Party (the “Non- Selling Party”) on the<br>terms set out in a written offer notice. |
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| ● | (b) The Non-Selling Party shall have thirty (30) days to accept all (but not less<br>than all) of the offered Units. |
| ● | (c) If it does not accept within such period, the Selling Party may transfer such<br>Units to a third party on terms no more favorable than those offered to the Non-Selling Party, within thirty (30)<br>days, subject to any other restrictions herein. |
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ARTICLE 8: EXCLUSIVITY; NON-COMPETE (PROJECT-LEVEL)
8.1Project-Level Exclusivity. During the term of this Agreement and for so long as the Company holds rights to a given Project:
| ● | (a) neither Party nor its controlled Affiliates shall, within a defined mile radius of such Project<br>site, independently develop or participate in a competing AI/HPC data center project that directly competes with the Project, except through<br>the Company or as otherwise unanimously approved by the Parties; |
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| ● | (b) this Section shall not restrict either Party from pursuing other projects outside the defined radius<br>or unrelated to AI/HPC data centers. |
8.2 Reasonableness; Modification. The Parties acknowledge that the foregoing restrictions are reasonable in scope and duration given the nature of the joint venture. If a court of competent jurisdiction determines any restriction to be unenforceable, such restriction shall be modified and enforced to the maximum extent permissible.
ARTICLE 9: CONFIDENTIALITY; INTELLECTUAL PROPERTY
9.1 Confidentiality.
| ● | (a) Each Party shall keep confidential all non-public information relating to the other Party, the Company<br>or any Project (“Confidential Information”), except as permitted in this Section. |
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| ● | (b) Confidential Information may be disclosed to Affiliates, employees, lenders, investors, and advisors<br>with a need to know, or as required by law. |
| ● | (c) This obligation shall survive for a defined period of years after the termination of this Agreement. |
9.2 Intellectual Property.
| ● | (a) Each Party shall retain ownership of all intellectual property (“IP”)<br>owned by it prior to the Effective Date or developed independently of the Company (“Background IP”). |
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| ● | (b) IP developed by or on behalf of the Company in the course of the Projects and funded by the Company<br>(“Project IP”) shall be owned by the Company, subject to any license rights granted in favor of the Parties as may be agreed<br>in writing. |
| ● | (c) Each Party may grant to the Company a non-exclusive, royalty-free license to use its Background IP<br>solely as necessary for the Projects, to the extent expressly agreed in writing in Project-specific documents. |
ARTICLE 10: REPRESENTATIONS; COVENANTS; INDEMNITIES
10.1Mutual Representations and Warranties. Each Party represents and warrants to the other that it is duly organized, validly existing, has all requisite power and authority, and that this Agreement is a legal, valid, and binding obligation.
10.2Performance Standard. Each Party shall perform its obligations with reasonable skill and care, in accordance with good industry practices and applicable laws.
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10.3Indemnification. Each Party (the “Indemnifying Party”) shall indemnify, defend and hold harmless the other Party, the Company and their respective Affiliates from and against any losses, damages, liabilities, and costs (“Losses”) arising out of or in connection with:
| ● | (i) any breach of this Agreement; |
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| ● | (ii) any inaccuracy in representations or warranties; or |
| ● | (iii) the gross negligence, wilful misconduct or fraud of the Indemnifying Party. |
ARTICLE11
TERM AND TERMINATION
11.1Term. This Agreement shall commence on the Effective Date and shall continue in effect until the earlier of: (a) dissolution and liquidation of the Company in accordance with this Agreement; or (b) mutual written agreement of the Parties to terminate this Agreement.
11.2Termination for Cause. Either Party may terminate this Agreement (and require dissolution of the Company, subject to financing arrangements) upon written notice if the other Party: (a) materially breaches this Agreement and fails to cure such breach within thirty (30) days after written notice; or (b) becomes insolvent, is subject to bankruptcy proceedings, or ceases to carry on its business in the ordinary course, in each case in a manner that materially impairs its ability to perform hereunder.
11.3 Effect of Termination. (a) Termination of this Agreement shall not affect:
| ● | (i) any accrued rights or obligations as of the date of termination; |
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| ● | (ii) any rights or obligations which by their nature are intended to survive (including confidentiality,<br>IP, indemnities and dispute resolution); or |
| ● | (iii) the terms of any Project-specific financing or customer agreements, except as otherwise provided<br>therein. (b) Upon termination and dissolution, the Company’s assets shall be liquidated and distributed in accordance with applicable<br>law and the Parties’ ownership percentages, after payment of liabilities. |
ARTICLE 12: GOVERNING LAW; DISPUTE RESOLUTION
12.1Governing Law. This Agreement and any dispute arising out of or in connection with it shall be governed by and construed in accordance with the laws of Hong Kong SAR, without regard to its conflict of laws rules.
12.2 Dispute Resolution.
| ● | (a) Negotiation: Parties shall<br>first attempt to resolve disputes through senior executive negotiations within fifteen (15) Business Days. |
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| ● | (b) Arbitration: If<br> unresolved within thirty (30) days of the meeting, disputes shall be resolved by binding arbitration under laws and regulations in<br> Hong Kong SAR. |
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INWITNESS WHEREOF, the Parties have executed this Joint Venture Agreement as of the Effective Date.
| K-MARK TECHONOLOGY LTD. | |
|---|---|
| By: | /s/ Kwok Yiu<br> Wah |
| Name: Kwok Yiu Wah | |
| Title: Director | |
| AURORA AZ ENERGY LTD. | |
| By: | /s/ Jing Shan Zhou |
| Name: Jing Shan Zhou | |
| Title: CEO |
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Exhibit 10.3
K-TECH SOLUTIONS COMPANY LIMITED (NASDAQ: KMRK) ANNOUNCES JOINTVENTURE WITH AURORA AZ ENERGY LTD. TO DEVELOP UP TO 500 MW OF AI AND HPC INFRASTUCTURE IN CANADA
HONG KONG & NEW YORK — March 16, 2026 — K-Tech Solutions Company Limited (Nasdaq: KMRK) (“K-Tech” or the “Company”), a technology firm specializing in high-performance computing infrastructure, today announced that its subsidiary has entered a joint venture agreement, as supplemented, with Aurora AZ Energy Ltd. (“Aurora”), a developer of wellhead natural gas power solutions, to develop large-scale crypto mining, artificial intelligence (AI) and high-performance computing (HPC) infrastructure in Alberta, Canada.
The Joint Venture plans to develop an initial 100 megawatts (MW) of IT capacity at Aurora’s flagship site in Alberta. Expansion beyond this level, potentially up to 500 MW over time, would be subject to securing additional power supply, land and capital. Aurora AZ Energy Ltd. is a specialist in wellhead energy solutions.
By integrating natural gas resources directly at the wellhead with advanced power generation technologies, Aurora intends to utilize natural gas resources to sustainably support high-density computing operations. The Joint Venture expects wellhead-sourced power to deliver energy costs meaningfully below prevailing grid rates in North America, positioning the partnership’s facilities as a cost-efficient platform for data center environments on the continent. Additionally, the Joint Venture intends to convert natural gas that might otherwise be flared to generate power for computing operations, reducing waste.
Under the terms of the Joint Venture, Aurora will supply power-rich data center sites sourced from its wellhead energy portfolio, while K-Tech will lead the design, development, and operations of the computing facilities. Together, the parties will deploy purpose-built, high-density data centers optimized for crypto mining, AI training/inference, and other compute-intensive workloads. The transaction is subject to customary regulatory approvals, including applicable provincial energy and environmental permits in Alberta.
Development Roadmap
The partnership is structured across several phases that together establish a roadmap to deploy over 100 MW and up to 500 MW of IT capacity:
Initial Deployment: The Joint Venture will launch at Aurora’s flagship site in Alberta, where the parties plan to develop an initial 100 MW of IT capacity supported by dedicated, wellhead-sourced power infrastructure. Site preparation and infrastructure buildout are expected to commence in September 2026, with initial computing capacity projected to come online in Q2, 2027
Capacity Expansion: Subject to securing additional power and land at existing Aurora locations, the joint venture may expand total IT capacity at those sites toward the 500 MW target. The parties expect to evaluate expansion opportunities upon successful deployment of the Phase 1 facility.
Portfolio Scale-out: K-Tech and Aurora intend to evaluate and may develop additional sites across Aurora’s broader wellhead energy portfolio, which currently encompasses over 20 active wellhead locations across Alberta. This creates an opportunity to further scale high-density AI and HPC capacity beyond the initial development plan.
“As AI models and HPC workloads become increasingly power-intensive, scalable and cost-effective infrastructure is critical. By partnering with Aurora, we are combining wellhead energy solutions with high-performance chip design and data center expertise to support next-generation AI and HPC applications,” said Kenneth Kwok, CEO of K-Tech Solutions Company Ltd.
“Aurora was built to unlock the full value of natural gas at the wellhead,” said Jim Zhou, CEO of Aurora AZ Energy Ltd. “Working with K-Tech allows us to apply that capability to high-density computing infrastructure. We believe this collaboration will support the integration of energy and digital infrastructure at scale.”
About K-Tech Solutions Company Limited (NASDAQ: KMRK)
Founded in 2016, Hong Kong-based K-Tech Solutions is principally engaged in the design, development, testing and sale of a diverse portfolio of toy products ranging from simple plastic toy products to more complex electromechanical toy products. Our solution services span across the entire development stage of toy products from design, prototype testing, production management, quality control to after-sales services. We specialize in the development of infant and pre-school educational toys and learning kits.
About Aurora AZ Energy Ltd.
Aurora AZ Energy Ltd. is a Calgary-based energy infrastructure company focused on wellhead natural gas power solutions. The company develops systems that convert natural gas resources into electricity to support high-density computing applications, including artificial intelligence, high-performance computing and digital infrastructure. Aurora AZ Energy Ltd. was incorporated in Canada in 2023.
Forward-Looking Statements
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
For more information, please contact:
K-Tech Solutions Company Limited
Johnny Kwok
Unit A, 7/F Mai On Industrial Building
17-21 Kung Yip Street, Kwai Chung
New Territories, Hong Kong
Phone: (+852) 2741 3165
Email: [email protected]
Investor Relation
Jean-Pierre Noel
Straight Limited
Creative Hub, Shaw Studio
201 Wan Po Road, Tseung Kwan O, HK
Phone: (+852) 2577 8001
Email: [email protected]