Envirotech Vehicles Launches 6 MW Bitcoin Mining Infrastructure

Envirotech Vehicles announced a series of concrete operational milestones across its digital infrastructure platform, including the deployment of approximately 6 megawatts of modular Bitcoin mining infrastructure at its South Texas site and the commencement of initial NVIDIA B200 GPU hardware deliveries by merger partner AZIO AI Corporation with an additional $118M infrastructure pipeline where deposits have already been received. This announcement follows the Company's entry into a definitive merger agreement, dated May 19, 2026, with AZIO AI, pursuant to which, subject to certain closing conditions, the Company will acquire AZIO AI. The Company intends to provide additional details regarding the transaction structure in the Form S-4 registration statement to be filed in connection with the proposed transaction. EVTV has ordered approximately 6 megawatts of modular Bitcoin mining container infrastructure, with installation expected to begin within the coming month. The deployment will include approximately 480 M6DS++ miners operating in overclocked configuration and 158 S21 XP immersion miners - 638 high-performance units in total. Based on current on-site operating data, management estimates power costs of approximately $0.03 per kilowatt-hour via behind-the-meter natural gas generation - among the lowest reported operating power costs in the domestic digital asset mining sector. At current Bitcoin market prices, management believes this fleet has the potential to represent a revenue-generating asset from the moment operations commence. AZIO AI has commenced initial deliveries and deployment of NVIDIA B200 GPU systems. To date, AZIO AI has received customer deposits for a $118M purchase order. The full receipt of customer deposits ahead of continued delivery represents a meaningful indicator of customer commitment and pipeline credibility. AZIO AI is also evaluating additional GPU infrastructure opportunities that could further expand the pipeline. In addition, AZIO AI has delivered eight Super Micro Computer server racks installed with NVIDIA B200 GPUs to a separate customer, further demonstrating the operational momentum of its GPU distribution business and its ability to fulfill against demand for next-generation AI compute hardware. EVTV believes its behind-the-meter natural gas power position in South Texas is a structural competitive advantage - one that applies equally to Bitcoin mining, AI compute hosting, and future high-performance data center operations. The Company is advancing fiber connectivity to the South Texas site in parallel, a critical requirement for AI server deployment and high-throughput compute workloads. As integration planning advances, AZIO AI is expected to support deployment and technical operations across compute infrastructure, while EVTV continues expanding power capacity and connectivity at its South Texas site.