Trading Symbols

AQSE: ASIC

 30 March 2026

Sterling Digital Plc

("Sterling", or "the Company")

Unaudited Consolidated Interim Results for the period ended 31 December 2025

Sterling Digital plc (AQSE: ASIC), a company established to develop low-energy-cost digital asset mining operations in the United States, is pleased to announce its financial results for the period ended 31 December 2025 (the "Period"). 

Chairman's Interim Report

I am delighted to present your Company's maiden interim figures. These interim financial statements reflect the recent admission of Sterling Digital's ordinary shares to trading on the Aquis Stock Exchange Growth Market (the "Listing"), as well as its first acquisition of equipment.

I am pleased to report that the plans that the Board laid out in the Company's Admission Document are on schedule and below budget.

During December 2025, the Company purchased two 2MW generators which have been "zero-houred". This means that they have been refurbished with new parts so that they now behave as if they were newly manufactured generators. As a result of this strategy, the Company now owns 4MW of gross* generating capacity, almost 10 per cent. below budget and some 70 per cent. cheaper than if the Company had bought them off the shelf (and without the current 2 year plus lead-time that the market is currently experiencing).

During the last quarter of 2025, the Bitcoin market experienced a retracement of much of the gains made during its last bull run. Starting  Q4 2025 at a new all-time high of $125,000, the reversal of the 10th of October 2025 which saw the largest one day liquidity drawdown in the crypto-currency's history precipitated a steady fall thereafter to as low as $80,000 in the period under review, The lack of support reflected the large internal market damage that the violence of the October 10th move had on major crypto-market participants, their balance sheets and the confidence of investors.

More pertinently to Sterling Digital, it presaged a pivot by some of the larger BTC miners towards AI model processing. Miners like Marathon Digital, Riot, Core Scientific, Bitfarms, TeraWulf and Iren are now focusing new investments on building out AI server farms rather than adding to their BTC mining capacity. This, as well as the cheaper pricing of BTC, will assist Sterling Digital's mining activities once they commence.

Your Board expects the equipment to be installed in Texas during the second quarter of 2026 in line with its business plan. Since the date of this report, the Company as purchased the mining servers and other hardware required to fulfil our ambitions as set out in the Admission Document.

*4MW gross equates to approx. 3MW actual power output.

Significant events and transactions during the period

·    On 9 October 2025, the Company acquired 100 per cent. of the share capital of Sterling Digital Assets Limited. The total consideration was £1.

·    On 1 December 2025, the Company was admitted to the AQSE Growth Market. On admission, 149,640,000 ordinary shares of £0.001 were in issue and dealings commenced under the ticker "ASIC". The placing of raised gross proceeds of £4 million through the issue of 80 million new ordinary shares at 5 pence per share.

·    On 11 December 2025, the Company acquired the first of its natural gas generators. This is a key operational milestone in progressing the initial 3MW stranded-gas-powered Bitcoin mining facility in Texas.

Financial Highlights

In the six months ended 31 December 2025, the Company made an operating loss of  $482k and a basic and diluted loss per share of $0.73. $327k of administrative costs related to the IPO and a further $40k related to share options expense. At 31 December 2025, the Company had cash balances of $3,673k.

Post Period Events

·    On 17 February 2026 the Company acquired 450 new-generation ASIC mining servers with aggregate capacity of approximately 193,500 TH/s. This acquisition was completed below the anticipated cost, benefiting from favourable market pricing conditions at the time of the purchase.

·    On 20 February 2026 the Company acquired modular, high-density, hydro-cooled data centre compute infrastructure to support the deployed ASIC servers. this infrastructure is designed for high-performance computing with flexibility to support both Bitcoin mining and alternative workloads, including both AI and machine learning. The installation of the ASIC mining servers and compute infrastructure is in line with the Company's Bitcoin production target of Q2 2026.

Guy Winterflood

Non-executive Chaiman

27 March 2026

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

For further information please contact:

Forward Looking Statements

Certain statements in this announcement are, or may be deemed to be, forward-looking statements. Forward looking statements are identified by their use of terms and phrases such as "believe", "could", "should", "envisage'', "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward-looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

STERLING DIGITAL PLC

DIRECTORS' REPORT

31 December 2025

Going Concern Statement

The Directors, having reviewed the budgeted cash flows and other available resources for the period to at least 12 months from the date of approval of these financial statements, have a reasonable expectation that the Company will continue to have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these interim financial statements.

Principal activity

Sterling Digital Plc, a company incorporated on 11 June 2025 in England and Wales, with registered number 16511442, aims to locate modular, self-contained Bitcoin mining operations directly on stranded gas fields in the United States, securing a reliable, sustainable, and low-cost energy supply for the generation of Bitcoin.

The Company's objective is to deliver sustainable long-term capital growth for shareholders via:

·    compounding Bitcoin exposure via cheapest-in-class mining; and

·    active management of the Company's Bitcoin reserves.

The Company's strategy of using stranded natural gas to generate its electricity requirements enables the Company to produce Bitcoin at materially lower costs than comparable grid-connected miners, while simultaneously optimising the Company's ESG profile by monetising surplus energy and waste gas. This model delivers both enhanced mining efficiency and a significant competitive cost advantage within the Bitcoin mining sector.

Results and dividends

The Statement of Comprehensive Income is set out below and has been prepared in United States Dollars, the reporting currency of the Company.

The Company did not declare a dividend during this period.

Substantial shareholdings

Other than as summarised below, the Directors have not been advised of any individual interest, or group of interests held by persons acting together, which on 31 December 2025 exceeded 3% of the Company's issued share capital.

Board Changes

On 19 November 2025 and on 25 November 2025, Jonathan Ovadia and Ilya Klaychin stepped down as directors of the Company respectively.

On 25 November 2025, Patrick Timothy Claridge was appointed as a non-executive director of the Company.

Employees

The Company had one directly employed person in the period.

Financial Reporting

The Board has ultimate responsibility for the preparation of the interim financial statements. A detailed review of the performance of the Company is contained in this report. Presenting the Directors' Report, the Board seeks to present a balanced and understandable assessment of the Company's position, performance, and prospects.

Principal risks and uncertainties

The principal risks and uncertainties for the remainder of the financial year are expected to remain consistent with those described in the admission document, namely execution risk over the initial site build-out, availability and reliability of gas supply, generator and ASIC performance, cybersecurity and site security, volatility in the Bitcoin price, changes in mining difficulty, regulatory developments affecting cryptocurrency activities, and the funding requirements of an early-stage business. There have been no additional principal risks identified at the reporting date.

Statement of Directors' responsibilities

The directors confirm that, to the best of their knowledge:

a)    these condensed interim financial statements have been prepared in accordance with FRS 104 Interim Financial Reporting and give a true and fair view of the assets, liabilities, and financial position of Sterling Digital Plc;

b)    The interim management report includes a fair review of the information required for an understanding of the development and performance of the business and the principal risks and uncertainties facing the business for the remainder of the financial year.

Website Publication

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website.