Prairie Operating Co (PROP) has released an update to notify the public and investors about an entry into a material definitive agreement.
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On January 23, 2024, Prairie Operating Co. sold its cryptocurrency miners to Matthew Austin Lerman for a total consideration of $2 million, consisting of $1 million in cash and $1 million in deferred payments tied to the mining equipment’s revenue. The sale included the transfer of the Company’s rights and obligations under the Master Services Agreement with Atlas Power Hosting, LLC. The terms of the Purchase Agreement include typical representations, warranties, and conditions, and are detailed in an attached exhibit, which is for informational purposes and not a reflection of the current state of affairs.
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