Blockmate: Wyoming USA AI Data Center Update and Balance Sheet Clarification

About this update from Blockmate Ventures Inc

Blockmate: Wyoming USA AI Data Center Update and Balance Sheet ClarificationToronto, Ontario--(Newsfile Corp. - May 27, 2026) - Blockmate Ventures Inc. (TSXV: MATE) (OTCQB: MATEF) (FSE: 8MH) ("Blockmate" or the "Company"), a venture builder focused on AI, Bitcoin, and digital infrastructure, is pleased to provide an update on its Wyoming, USA AI infrastructure opportunity and clarify the presentation of certain consolidated liabilities related to Hivello.With a number of initiatives advancing in parallel, Blockmate is re-engaging with the market to provide greater visibility into its strategic direction and near-term priorities.AI infrastructure discussions continue around Wyoming, USA opportunityBlockmate continues to be in discussions with a number of interested parties regarding the potential development of its Wyoming site into an AI data center. To further progress these discussions, key Blockmate executives will be attending Datacloud Global Congress 2026 in France next week, a global data center and hyperscaler conference, with the objective of pursuing ongoing conversations and meeting with potential investors and strategic partners.In parallel, the Company is in discussions with a technical surveying firm to support work with the local city aimed at increasing the usable acreage for potential AI data center development. The Company believes that increasing the usable site footprint could enhance the overall value and attractiveness of the opportunity to potential counterparties.Balance sheet clarification related to Hivello consolidationBlockmate is also providing clarification regarding the Company's consolidated balance sheet presentation. The Company notes that approximately $6.8 million of liabilities reflected on its consolidated balance sheet relates to Hivello, one of Blockmate's investments, and specifically to SAFE notes issued at the Hivello level.The Company confirms that these SAFE notes are obligations of Hivello and are expected to convert into equity at a future point in time, subject to their terms. The Company further confirms that this liability is not a direct liability of Blockmate. However, because Blockmate currently consolidates Hivello for accounting purposes (based on ownership and control), Blockmate is required under applicable accounting standards to consolidate 100% of Hivello's assets and liabilities within Blockmate...

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