Form 8-K Applied Blockchain, Inc. For: Jul 25

UNLIMITED COMMERCIAL CORPORATE GUARANTY OF APPLIED BLOCKCHAIN, INC. 2022 APLD Internet hosting, LLC, a Nevada restricted legal responsibility firm, registered in North Dakota as a overseas restricted legal responsibility firm, 3811 Turtle Creek Blvd., Ste. 2125, Dallas, TX 75219 (hereinafter known as “Borrower”); Utilized Blockchain, Inc., a Nevada company, 38 I I Turtle Creek Blvd., Ste. 2125, Dallas, TX 75219 (hereinafter known as “Guarantor”); Starion Financial institution, 2754 Brandt Dr. S., Fargo, ND 58104-8806 (hereinafter known as “Financial institution”). Date: July 25, 2022 THIS IS THE COMMERCIAL CORPORATE GUARANTY OF PAYMENT OF APPLIED BLOCKCHAIN, INC. 1. AMOUNT OF GUARANTY UNLIMITED. The quantity of this Warranty shall be limitless as to the Indebtedness of Borrower recognized above, owed to the Financial institution, as such Indebtedness is recognized and outlined on this Warranty, together with principal, curiosity, prices and bills as outlined on this Warranty. 2. ABSOLUTE, UNCONDITIONAL & CONTINUING GUARANTY. For good and priceless consideration, the above-named Guarantor completely, unconditionally and on a seamless foundation ensures and guarantees to pay to the above named Starion Financial institution or its order, in authorized tender of the US of America, an quantity equal to the Quantity of Warranty pursuant to Part I above for default on any or the entire Loans recognized on this Warranty and different indebtedness assured herein. 3. MAXIMUM LIABILITY. The utmost legal responsibility of Guarantor underneath this Warranty shall not exceed at anyone time a sum equal to the full sum of money owed to the Financial institution by the Borrower and required by the Financial institution to make it complete. If Financial institution presently holds a number of guaranties, or hereafter receives further guaranties from Guarantor, Financial institution’s rights underneath all guaranties shall be cumulative. This Warranty shall not (until particularly supplied under on the contrary) have an effect on or invalidate any such different guaranties. Guarantor’s legal responsibility shall be Guarantor’s mixture legal responsibility underneath the phrases of this Warranty and any such different unterminated guaranties. 4. BORROWER INDEBTEDNESS. The indebtedness assured by this Warranty contains collectively any and all Borrower’s indebtedness to Bartle and is utilized in essentially the most complete sense and means and contains any and all Borrower’s liabilities, obligations and money owed to Financial institution,

now present or hereafter incurred or created, together with, with out limitation, the next Mortgage made by Financial institution to Borrower recognized under, efficient the identical date as this Warranty: $15,000,000.00 Actual Property Time period Mortgage. Along with all different loans if any, advances, curiosity, prices, money owed, overdraft indebtedness and liabilities of Borrower, and any current or future judgments in opposition to Borrower, plus all of Financial institution’s prices, bills, and to the extent allowed by regulation cheap lawyer’s charges incurred in reference to or referring to (A) the gathering of the indebtedness, (B) the gathering and sale of any collateral for the indebtedness or this Warranty, or (C) the enforcement of this Warranty (lawyer’s charges embrace, with out limitation, cheap lawyer’s charges whether or not or not there’s a lawsuit, and if there’s a lawsuit, any charges and prices for trial and attraction); and whether or not any such indebtedness is voluntarily or involuntarily incurred, due or not due, absolute or contingent, liquidated or unliquidated, detennined or undetern1ined; whether or not Borrower could also be liable individually or collectively with others, or primarily or secondarily, or as guarantor or surety; whether or not restoration on the indebtedness could also be or could turn into barred or unenforceable in opposition to Borrower for any motive by any means; and whether or not the indebtedness arises from transactions which can be voidable on account of infancy, madness, extremely vires, or in any other case. 5. DURATION OF GUARANTY. This Warranty will take impact when obtained by Financial institution with out the need of any acceptance by Financial institution, or any discover to Guarantor or to Borrower, and can proceed in full drive till all indebtedness incurred or contracted earlier than receipt by Financial institution of any discover of revocation shall have been totally and eventually paid and happy and all of Guarantor’s different obligations underneath this Warranty shall have been carried out in full. If Guarantor elects to revoke this Warranty, Guarantor could solely accomplish that in writing. Guarantor’s written discover of revocation have to be mailed to Financial institution, by licensed mail, at Financial institution’s handle listed above or such different place as Financial institution could designate in writing. Written revocation of this Warranty will apply solely to advances or new indebtedness created after precise receipt by Financial institution of Guarantor’s written revocation. For this objective and with out limitation, the tern1 “new indebtedness” doesn’t embrace indebtedness which on the time of discover ofrevocation is contingent, unliquidated, undetennined or not due and which later turns into absolute, liquidated, decided or due. This Warranty will proceed to bind Guarantor for all indebtedness incurred by Borrower or dedicated by Financial institution previous to receipt of Guarantor’s written discover of revocation, together with any extensions, renewals, substitutions or modifications of the indebtedness. All renewals, extensions, substitutions, and modifications of the indebtedness granted after Guarantor’s revocation, are contemplated underneath this Warranty and particularly won’t be thought-about to be new indebtedness. Launch of every other guarantor or termination of every other warranty of the indebtedness shall not have an effect on the legal responsibility of Guarantor underneath this Warranty. A revocation Financial institution receives from any a number of Guarantors shall not have an effect on the legal responsibility of any remaining Guarantors underneath this Warranty. 6. GUARANTOR’S AUTHORIZATION TO BANK: Guarantor authorizes Financial institution, both earlier than or after revocation hereof, with out discover or demand and with out lessening Guarantor’s legal responsibility underneath this Warranty, occasionally: (A) previous to revocation as set forth above, to make a number of further secured or unsecured loans to Borrower, to increase further credit score to Borrower; (B) to change, compromise, renew, lengthen, speed up, different in any other case change a number of occasions the time of cost or different phrases of the indebtedness or any a part of the indebtedness, together with will increase and reduces of the speed of curiosity on the indebtedness; extensions could also be 2

repeated and could also be for longer than the unique Mortgage time period; (C) to take and maintain safety and mortgage, with this Warranty or the indebtedness, and alternate, implement, waive, subordinate, fail or resolve to not excellent, and launch any such safety and, with or with out the substitution of recent collateral; (D) to launch, substitute, agree to not sue, or take care of any a number of of Borrower’s sureties, endorsers, or different guarantors on any phrases or in any method Financial institution could select; (E) to find out how, when and what software of funds and credit shall be made on the indebtedness; (F) to use such safety and direct the order or method of sale thereof, together with with out limitation, any non-judicial sale permitted by the tenns of the controlling safety settlement or mortgage, as Financial institution in its discretion could detennine; (G) to promote, switch, assign or grant participations in all or any a part of the indebtedness; and (H) to assign or switch this Warranty in complete or partly. 7. GUARANTOR’S REPRESENTATIONS AND WARRANTIES. Guarantor represents and WatTants to Financial institution that (A) no representations or agreements of any sort have been made to Guarantor which might restrict or qualify in any manner the phrases of this Warranty; (B) this Warranty is executed at Borrower’s request and never on the request of Financial institution; (C) Guarantor has full energy, 1ight and authority to enter into this Warranty; (D) the provisions of this Warranty don’t battle with or end in a default underneath any settlement or different instrument binding upon Guarantor and don’t end in a violation of any regulation, regulation, court docket decree or order relevant to Guarantor; (E) Guarantor has not and won’t, with out the prior written consent of Financial institution, promote, lease, assign, encumber, hypothecate, switch, or othe1wise get rid of all or considerably of all Guarantor•s property, or any curiosity therein, in any other case than within the peculiar course of enterprise or on phrases materially much less favorable than could be obtained in an arms-length transaction; (F) upon Financial institution’s request, Guarantor will present to Financial institution monetary and credit score info in fonn acceptable to Financial institution, and all such monetary infmmation which cmTently has been, and all future monetary info which shall be supplied to Financial institution is and shall be true and proper in all materials respects and pretty current Guarantor’s monetary situation as of the dates the monetary info is supplied; (G) no materials opposed change has occurred in Guarantor’s monetary situation for the reason that date of the newest monetary statements supplied to Financial institution and no occasion has occurred which can materially adversely have an effect on Guarantor’s monetary situation; (H) no litigation, declare, investigation, administrative continuing or comparable motion (together with these for unpaid taxes) in opposition to Guarantor is pending or, to Guarantor’s information, threatened; (I) Financial institution has made no illustration to Guarantor as to the creditworthiness of Borrower; (J) Guarantor has established satisfactory technique of acquiring from Borrower on a seamless foundation infonnation concerning such Borrower’s monetary situation. Guarantor agrees to maintain Borrower adequately infonned of such info, occasions, or circumstances which could in any manner have an effect on Guarantor’s dangers underneath this Warranty, and Guarantor additional agrees that, absent a request for info, Financial institution shall don’t have any obligation to confide in Guarantor any info or paperwork acquired by Financial institution in the midst of its relationship with Borrower. 8. GUARANTOR’S WAIVERS. Besides as prohibited by relevant regulation, Guarantor waives any proper to require Financial institution (A) to proceed lending cash or to increase different credit score to Borrower; (B) to make any presentment, protest, demand, or discover of any sort, together with discover of any nonpayment of the indebtedness or of any nonpayment associated to any collateral, or discover of any motion or non­ motion on the a part of Borrower, Financial institution, any surety, endorser, or different guarantor in reference to the indebtedness or in reference to the creation of recent or further loans or obligations; (C) 3

to resort for cost or to proceed instantly or directly in opposition to any individual, together with Borrower or every other guarantor; (D) to proceed instantly in opposition to or exhaust any collateral held by Financial institution from B01Tower, every other guarantor, or every other individuals; (E) to provide discover of the phrases, time, and place of any public or non-public sale of private property safety held by Financial institution from Borrower or to adjust to every other relevant and waivable provisions of the Uniform Business Code; (F) to pursue every other treatment inside Financial institution’s energy; or (G) to commit any act or omission of any sort, or at any time, with respect to any matter by any means. Guarantor additionally waives any and all rights or defenses arising by motive of (A) any “one motion” or “anti-deficiency” regulation which can stop Financial institution from bringing any motion, together with a declare for deficiency, in opposition to Guarantor, earlier than or after Financial institution’s graduation or completion of any foreclosures motion, both judicially or by train of an influence of sale; (B) any election of treatments by Financial institution which destroys or in any other case adversely impacts Guarantor’s subrogation rights or Guarantor’s rights to proceed in opposition to Borrower for reimbursement, together with with out limitation, any lack of rights Guarantor could undergo by motive of any regulation limiting, qualifying, or discharging the indebtedness; ( C) any incapacity or different protection of Borrower, of every other guarantor, or of every other individual, or by motive of cessation of Borrower’s legal responsibility from any trigger by any means, apart from cost in full in authorized tender, of the indebtedness; (D) any proper to say discharge of the indebtedness on the idea of unjustified impainnent of any collateral for the indebtedness; (E) any statute of limitations, if at any time any motion or go well with purchased by Financial institution in opposition to Guarantor is commenced, there’s excellent indebtedness of Borrower to Financial institution which isn’t barred and perfonnance of the indebtedness. If cost is made by Borrower, whether or not voluntarily or in any other case, or by any third occasion, on the indebtedness and thereafter Financial institution is compelled to remit the quantity of that cost to such B01Tower’s trustee in chapter or to any comparable individual underneath any federal or state chapter regulation or regulation for the reduction of debtors, the indebtedness shall be thought-about unpaid for the aim of the enforcement of this Warranty. Guarantor additional waives and agrees to not assert or declare at any time any deduction to the quantity assured underneath this Warranty for any declare of setoff, counterclaim, counter demand, recoupment or comparable proper, whether or not such declare, demand or proper could also be asserted by Borrower, and Guarantor, or each. 9. GUARANTOR’S UNDERSTANDING WITH RESPECT TO WAIVERS. Guarantor warrants and agrees that every of the waivers set forth above is made with Guarantor’s full information of its significance and penalties and that, underneath the circumstances, the waivers are cheap and never opposite to public coverage or regulation. If any such waiver is set to be opposite to any relevant regulation or public coverage, such waiver shall be efficient solely to the extent permitted by regulation or public coverage. 10. RIGHT OF SETOFF. To the extent permitted by relevant regulation, Financial institution reserves the suitable of setoff in all Guarantor’s deposit accounts with Financial institution (whether or not checking, financial savings, or another account). This contains all accounts Guarantor holds collectively with another person and all accounts Guarantor could open sooner or later. Nonetheless, this doesn’t embrace any IRA or Keogh accounts, or any belief accounts for which setoffwould be prohibited by regulation. Guarantor authorizes Financial institution, to the extent pennitted by relevant regulation, to carry these funds if there’s a default, and Financial institution could apply the funds in these accounts to pay what Guarantor owes underneath the phrases of this Warranty. 4

11. SUBORDINATION OF BORROWER’S DEBTS TO GUARANTOR. Guarantor agrees that the indebtedness of Bo1TOwer to Banlc, whether or not now or hereafter created, shall be superior to any declare that Guarantor could now have or hereafter purchase in opposition to Borrower, whether or not or not Borrower turns into bancrupt. Guarantor hereby expressly subordinates any declare Guarantor could have in opposition to Borrower, upon ru1y account by any means, to any declare that Bru1k could now to hereafter have in opposition to Borrower. Within the occasion of insolvency and consequent liquidation of the property of Borrower, via banlcruptcy, by an project for the advantage of collectors, by voluntary liquidation, or in any other case, the property of Borrower relevant to the cost of the claims of each Financial institution and Guarantor shall be paid to Banlc and shall be first utilized by Financial institution to the indebtedness of Borrower to Financial institution. Guarantor does hereby assign to Financial institution all claims which it might have or purchase in opposition to Borrower or in opposition to any assignee or trustee in bankrnptcy of Borrower; supplied nonetheless, that such project shall be efficient just for the aim of evidencing any money owed or obligations of Borrower to Guarantor shall be marked with a legend that the identical are topic to this Warranty and shall be delivered to Financial institution. Guarantor agrees, and Banlc is hereby approved, within the title of Guarantor, occasionally to file financing statements and continuation statements and to execute paperwork and to take such different actions as Ban]( deems essential or acceptable to excellent, protect and implement its rights underneath this Warranty. 12. MISCELLANEOUS PROVISIONS. The next miscellaneous provisions are part of this Warranty. Amendments. This Warranty, along with any Associated Paperwork, constitutes the whole understanding and settlement of tile events as to the issues set forth on this Warranty. No alterations of or modification to this Warranty shall be efficient until given in writing and signed by the occasion or events sought to be charged or certain by the alteration or modification. Lawyer’s Charges; Bills. Guarantor agrees to pay upon demand all of Financial institution’s prices and bills, together with Banlc’s cheap lawyer’s charges until prohibited by regulation and Financial institution’s authorized bills, incuned in reference to the enforcement of this Warranty. Financial institution could rent or pay another person to assist implement this Warranty, and Guarantor shall pay the prices and bills of such enforcement. Prices and bills embrace Financial institution’s cheap lawyer’s charges until prohibited by regulation and authorized bills whether or not or not there’s a lawsuit, together with cheap lawyer’s charges and authorized bills for chapter proceedings (together with efforts to switch or vacate any computerized keep or injunction), appeals, and any anticipated post-judgment assortment providers. Guara11tor additionally shall pay all court docket prices and such further charges as could also be directed by the court docket. Caption Headings. Caption headings on this Warranty are for comfort functions solely and never for use to interpret or outline the provisions of this Warranty. Governing Legislation. This Warranty shall be ruled by and construed and enforced in accordance with the legal guidelines of the State of North Dakota,supplied, nonetheless, the Financial institution could at its choice, or when required by regulation, make the most of the legal guidelines of different states and jurisdictions the place the Borrower, the Guarantor or different guarantors reside or during which they’ve property, to be able to 5

implement the provisions of this Warranty, gather the stability of the indebtedness, and maximize restoration in order to make Financial institution complete. Selection of Venue. If there’s a lawsuit, Guarantor agrees upon Financial institution’s request to undergo the jurisdiction of the courts of Stutsman County, State of North Dakota. Integration. Guarantor additional agrees that Guarantor has learn and totally understands the phrases of this Warranty; Guarantor has had the chance to be suggested by Guarantor’s lawyer with respect to this Warranty; the Warranty totally displays Guarantor’s intentions and parol proof shouldn’t be required to interpret the phrases of this Warranty. Guarantor hereby indemnifies and holds Financial institution hannless from all losses, claims, damages, and prices (together with Financial institution’s lawyer’s charges until prohibited by regulation) suffered or incurred by Financial institution because of any breach by Guarantor of warranties, representations and agreements of this paragraph. Interpretation. The phrases “Guarantor,” “Borrower,” “Financial institution”: embrace the heirs, successors, assigns, and transferees of every of them. If a court docket finds {that a} provision of this Warranty shouldn’t be legitimate or shouldn’t be enforced, that truth by itself won’t imply that the remainder of this Warranty won’t be legitimate or enforced. Subsequently, a court docket will implement the remainder of the provisions of this Warranty even when a provision of this Warranty could also be discovered to be invalid or unenforceable. If Borrower and Guarantor are firms, partnerships, restricted legal responsibility corporations, or comparable entities, it isn’t essential for Financial institution to inquire into the powers of Borrower or Guarantor or of the officers, administrators, companions, managers, or different brokers appearing or purporting to behave on their behalf, and any indebtedness made or created in reliance upon the professed train of such powers shall be assured underneath this Warranty. Notices. Any discover required to be given underneath this Warranty shall be given in writing, and, aside from revocation notices by Guarantor shall be efficient when really delivered, when really obtained by telefacsimile (until in any other case required by regulation), when deposited with a nationally acknowledged in a single day courier, or, if mailed, when deposited in the US mail, as firstclass, licensed or unregistered mail postage pay as you go, directed to the addresses proven within the caption of this Warranty instrument. All revocation notices by Guarantor shall be in writing and shall be efficient upon supply to Financial institution as supplied in Part 5 of this Warranty entitled “Period Of Warranty.” Any occasion could change its handle for notices underneath this Warranty by giving formal written discover to the opposite events, specifying that the aim of the discover is to vary the occasion’s handle. For discover functions, Guarantor agrees to maintain Financial institution knowledgeable always of Guarantor’s ctm-ent handle. No Waiver by Financial institution. Financial institution shall not be deemed to have waived any rights underneath this Warranty until such waiver is given in writing and signed by Financial institution. No delay or omission on the a part of Financial institution in exercising any proper shall function as a waiver of such proper or every other proper. A waiver by Financial institution or a provision of this Warranty shall not prejudice or represent a waiver of Financial institution’s proper in any other case to demand strict compliance with that 6

provision or every other provision of this Warranty. No prior waiver by Financial institution, nor any course of dealing between Financial institution and Guarantor, shall represent a waiver of any of Financial institution’s rights or of any of Guarantor’s obligations as to any future transactions. Each time the consent of Financial institution is required underneath this Warranty, the granting of such consent by Financial institution in any occasion shall not represent persevering with consent to subsequent cases the place such consent is required and in all case such consent could also be granted or withheld within the sole discretion of Financial institution. Successors and Assigns. Topic to any limitations acknowledged on this Warranty on switch of Guarantor’s curiosity, this Warranty shall be binding upon and inure to the advantage of the events and their successors and assigns. Waive Jury. Financial institution and Guarantor hereby waive the suitable to any jury trial in any motion, continuing, or counterclaim introduced by both Financial institution or Borrower in opposition to the opposite. THE UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS GUARANTY AND AGREES TO ITS TERMS. IN ADDITION, GUARANTOR UNDERSTANDS THAT THIS GUARANTY IS EFFECTIVE UPON GUARANTOR’S EXECUTION AND DELIVERY OF THIS GUARANTY TO BANK AND THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE MANNER SET FORTH IN THE SECTION TITLED “DURATION OF GUARANTY”. NO FORMAL ACCEPTANCE BY BANK IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE. THIS GUARANTY IS DATED AS FIRST ABOVE STATED. [SIGNATURES AND ACKNOWLEDGEMENTS ON NEXT PAGE] 7

CHIEF EXECUTIVE OFFICER CORPORATE GUARANTY SIGNATURE AND ACKNOWLEDGEMENT CORPORA TE GUARANTOR: STATE OF.l::-0-c.s COUNTY OF ~l,G> APPLIED BLOCKCHAIN, INC. ) )ss ) J On this 22.v day of July, 2022 earlier than me personally appeared Wes Cummins to me recognized to be the Chief Government Officer of Utilized Blockchain, Inc., the company that’s described in, and that executed the foregoing instrument, and acknowledged to me t such company executed the identical. (NOTARY SEAL) MORc.Atl HAAS r-1oury 10 .;133496 769 My Fee Ex;::1res oecemoer 17. 2025 8

CHIEF FINANCIAL OFFICER CORPORA TE GUARANTY SIGNATURE AND ACKNOWLEDGEMENT CORPORATE GUARANTOR: STATE OFkxe-“” COUNTY OF~,lc; > APPLIED BLOCKCHAIN, INC. ) )ss ) avid Rench, Its Chief Monetary Officer .)._ On this 22~ day of July, 2022 earlier than me personally appeared David Rench to me recognized to be the Chief Monetary Officer of Utilized Blockchain, Inc., the company that’s described in, and that executed the foregoing instrument, and acknowledged to me that such company executed the identical. -, (NOTARY SEAL) ~ -,..’-“! “‘ue MORGAN HAAS f ‘ <~ Notary 10 #133496769 i~:~;,,’ My Fee Ex;::iires Decemoer 17, 2025 — —-~:~ . /4z-“2~~r’-:-:~~~– This doc drafted by Zimney Foster P.C.. Attorneys 3100 S. Columbia Street, Ste. 200, Grand Forks, ND 5820 I 9