Exhibit 10.7

MASTER LOAN AGREEMENT

This Master Loan Agreement (this “Master Agreement”) is made on November 4, 2024 by and between:

Each of the forgoing parties is referred to herein individually as a “Party” and collectively as the “Parties”.

RECITALS

WHEREAS, subject to the terms and conditions of this Master Agreement and the applicable Loan Confirmation, Borrower may, from time to time, initiate a transaction pursuant to which Lender will agree to lend the Loaned Assets to Borrower, and the Borrower will pay a Loan Fee and return such Loaned Assets to Lender upon the termination of the Loan.

Now, therefore, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which hereby acknowledged, the Borrower and the Lender hereby agree as follows:

“Additional Collateral” has the meaning set forth in Section 4.3.

“Affiliate” means a person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the person specified

“Agreement” has the meaning set forth in Section 17.

“Airdrop” means a distribution of a new token or tokens resulting from the ownership of a preexisting token.

“AML/CTF Requirements” mean any applicable laws made by a government or relevant authority or judicial body pertaining to money laundering, terrorism financing, bribery, corruption, tax evasion, fraud, the trafficking of arms, drugs, humans or wildlife, slavery, proliferation of weapons of mass destruction, or sanctions imposed by the United Nations Security Council, the United States of America, the United Kingdom of Great Britain and Northern Ireland, the European Union or its member states, Singapore, Hong Kong or any other jurisdictions selected for inclusion hereunder by Lender from time to time.

“Authorized Agent” has the meaning set forth in Exhibit A.

“Borrower” means the Party specified as such in the applicable Loan Confirmation.

“Business Day” means a day on which banks are generally open for business in Hong Kong and excluding any Saturday or Sunday.

“Business Hours” means between the hours of 10:00 to 18:00 (GMT+8) on a Business Day.

“Close of Business” means 18:00 (GMT+8).

“Collateral” has the meaning set forth in Section 4.1.

“Current Level” means, with respect to a Loan as of a time and day, an amount, expressed as a percentage, equal to: (i) Market Value of Loaned Assets as of such time, divided by (ii) Market Value of the total Collateral transferred to and held by Lender as of such time (as adjusted from time to time by the amount of Additional Collateral delivered by Borrower and amount of Collateral returned by Lender).

“Digital Currency” means USDT or USDC as agreed between the Parties and as specified in the applicable Loan Confirmation. For the avoidance of doubt, with respect to Loaned Assets and Loan Balance, the day one lending value of one unit of any USDT or USDC loaned out shall be deemed to be equal to the same amount in the form of USD, at a ratio of 1:1. In the event that Borrower wishes to repay the Loan Balance to Lender in Digital Currency, Borrower shall repay such amount of Digital Currency which, if converted into USD using the spot rate at the time of such repayment (the “Return Spot Rate”), would be no less than the amount Lender would receive in USD. The Return Spot Rate of any such Digital Currency shall be mutually agreed by the Parties in writing. Notwithstanding the above, the Lender shall have, at any time, the sole and absolute discretion to determine whether to accept a certain form of Digital Currency for repayment for any or all of the Loan Balance. “Digital Currency Address” means an identifier of alphanumeric characters that represents a digital identity or destination for a transfer of Digital Currency.

“Exercise of the Prepayment Option” has the meaning set forth in Section 2.3.2

“Fixed Term Loan” means a Loan with a pre-determined Maturity Date, where Borrower does not have a Prepayment Option.

“Hard Fork” means a permanent divergence in the blockchain (e.g., when non-upgraded nodes cannot validate blocks created by upgraded nodes that follow newer consensus rules, or an Airdrop or any other event which results in the creation of a new token).

“Initial Margin Level” means, with respect to a Loan and as of the Loan Effective Date, the percentage specified as such in the relevant Loan Confirmation, if applicable.

“Lender” means the Party specified as such in the applicable Loan Confirmation.

“Liquidation Level”, with respect to a Loan, has the meaning given to it in the relevant Loan Confirmation, if applicable.

“Loan” means a loan made pursuant to and in accordance with this Master Agreement and the applicable Loan Confirmation.

“Loan Balance” means the sum of all outstanding amounts of Loaned Assets, including Loan Fees, Late Fees, and any Early Termination Fee.

“Loan Documents” means this Master Agreement, all Loan Confirmations entered into between the Parties and any other document designed as a Loan Document by the Parties.

“Loan Effective Date” means the date specified as such in the Loan Confirmation.

“Loan Fee” means the fee payable by Borrower to Lender for a Loan.

“Loan Confirmation” means the agreement between Lender and Borrower on the particular terms of a Loan, which shall be substantially in the form set forth in Exhibit B, or any other form approved by Lender.

“Loaned Assets” means any amount of Digital Currency agreed between the Parties from time to time transferred in a Loan until such Digital Currency (or identical Digital Currency) amount is transferred back to Lender. For the purposes of the return of Loaned Assets by Borrower or purchase or sale of Digital Currencies pursuant to Section 9, such term shall include Digital Currency of the same quantity and type as the Loaned Assets, as adjusted pursuant to the preceding sentence.

“Loan Instruments” means the aggregation of, as the case may be, (a) all the deeds of loan entered into by and among the Lender, the Borrower and certain other parties thereto from time to time, pursuant to which the Lender agrees to provide a loan to the Borrower to finance the Borrower’s ordinary business operation or capital expenditures, which include but not limited to purchase of, among others, certain units of cryptocurrency mining hardware and/or mining facilities, and/or to provide a loan to the Borrower to pay for the hosting fees and operation and maintenance fees associated with the operations of the cryptocurrency mining hardware of the Borrower; and (b) any other loan agreements entered into by and among the Lender, the Borrower and certain other parties thereto from time to time. The Loan Instruments shall include, without limitation, this Agreement. Each of the Loan Instruments shall be referred to herein as a “Loan Instrument”.

“Margin Call Level”, with respect to a Loan, has the meaning given to it in the relevant Loan Confirmation, if applicable.

“Market Value” means, with respect to Digital Currency, its value as determined in accordance with the relevant Loan Confirmation.

“Maturity Date” means the pre-determined future date upon which a Loan becomes due in full.

“Open Loan” means a Loan without a Maturity Date where Borrower has the option to repay or return the Loaned Assets at any time by notice.

“Prepayment Option” means, in the case of a Term Loan with Prepayment Option, the Borrower has the option to repay or return the Loaned Assets prior to the Maturity Date, subject to this Master Agreement or shall have the meaning as stated in section 2.3.2 in relation to the Open Term Loan.

“Term Loan with Prepayment Option” means a Loan with a Maturity Date where Borrower has a Prepayment Option.

“Termination Date” means the date upon which a Loan is terminated and as set forth in section 2.4.

“Written Notice” is defined as set forth in Section 15.

Subject to all of the terms and conditions of this Master Agreement, the Lender agrees to lend, and/or procure the affiliates of the Lender to lend, to the Borrower and/or the affiliates of the Borrower, funds in an aggregate amount not exceeding 100,000,000 US dollars, which may be drawn in the form of Digital Currency in one or multiple tranches within 48 months starting from the effective date of this Master Agreement. The specific amount of Digital Currency to be drawn in each tranche shall be separately agreed between the Parties.

For the purpose of this Master Agreement, any reference to “Lender” shall include affiliates of the Lender as applicable, and any reference to “Borrower” shall include affiliates of the Borrower as applicable.

Provided that all the conditions (if any) precedent set out in the Master Agreement have been fulfilled, an Authorized Agent of Borrower may, from time to time during the Business Hours on a Business Day (the “Request Day”), by Written Notice directed to Lender (or such other address or medium as Lender may specify in writing), request from Lender a Loan of a specific amount of Digital Currency agreed between the Parties (a “Lending Request”).

As part of its Lending Request, Borrower shall provide the following proposed terms:

If Lender agrees to make a Loan of Digital Currency, Lender shall commence transmission to the Borrower’s Digital Currency Address the amount of Digital Currency as such Digital Currency Address is set forth in the Lending Request after receiving the agreed upon Collateral.

The specific and final terms of a Loan shall be memorialized using the Loan Confirmation. In the event of any inconsistency among this Master Agreement, or the applicable Loan Confirmation, the following will prevail for purposes of the applicable Loan in the order of precedence indicated: (i) the Loan Confirmation; and (ii) this Master Agreement.

Unless otherwise specified in subsection 2.3.2 below or the applicable Loan Confirmation, upon the Termination Date, Borrower shall repay, the entirety of the Loan Balance to Lender by Close of Business of the Termination Date. The Lender shall have, at any time, the sole and absolute discretion to determine whether to accept a certain form of Digital Currency as repayment of any or all of the Loan Balance.

For Loans in which Borrower has a Prepayment Option (e.g. Open Loans, Term Loans with Prepayment Option, etc.):

In the event of a Prepayment Option where the Borrower repays only a portion of the Loan Balance, Borrower shall repay said portion of the Loan Balance on the Redelivery Day and the remaining portion of the Loan Balance on the earlier of the Maturity Date and if applicable, the subsequent Redelivery Day.

For Open Loans, the Lender can terminate the Loan at any time in its sole discretion without being subject to any fees or liabilities. The Lender shall give the Borrower a Written Notice to notify the Borrower its intent to terminate the Loan and the Borrower shall repay the full amount of the Loan Balance within two Business Days after receiving such notice. If the Borrower fails to repay the full amount of the Loan Balance within such timeline, the Lender shall have the right to immediately transfer any and all of Borrower’s Collateral from the collateral account to Lender’s operating account necessary for the payment of any nonpayment, liability, obligation, or indebtedness owed by the Borrower to the Lender.

A Loan will terminate on the date upon the earlier of (the “Termination Date”):

Nothing in the forgoing shall cause, limit, or otherwise affect the termination of this Master Agreement.

Unless otherwise agreed in the applicable Loan Confirmation, Borrower agrees to pay Lender a financing fee on each Loan (the “Loan Fee”) for the term of the Loan at the annual interest rate of 6.5%. When a Loan Confirmation is executed, the Borrower will pay the Loan Fee as agreed in the applicable Loan Confirmation. Except as the Parties may otherwise agree, Loan Fees shall accrue (i) from (and including) the date on which the Loaned Assets are transferred to Borrower, where the Loaned Assets are transferred before 12:00 noon (GMT+8) of such date, or (ii) from (and including) the calender day following the date on which the Loaned Assets are transferred to Borrower, where the Loaned Assets are transferred at or after 12:00 noon (GMT+8) of such date to the date on which such Loaned Assets are repaid in their entirety to Lender. The determination on the time of transfer of the Loaned Assets to Borrower shall follow the time displayed by the TXID with regards to the last transfer of the remaining Loaned Assets to the Borrower.

For any Loan, the minimum Loan Fee shall be the Loan Fee that would accrue for one month.

Lender shall calculate any Loan Fees owed on a daily basis for the actual number of days elapsed and provide Borrower with the calculation upon request. The Loan Fee will be calculated based on all outstanding portions of the Loaned Assets. The Loan Fee is payable monthly by Borrower in arrears and to be paid in a Digital Currency in accordance with the applicable Loan Confirmation.

For each calendar day after the earlier of the Maturity Date and the Redelivery Day in respect of which Borrower has not returned the entirety of the Loaned Assets or failed to timely pay any outstanding Loan Fee in accordance with Section 3.1, Borrower shall incur an additional fee (the “Late Fee”) of 10% or other amount as agreed in the Loan Confirmation by the Parties (annualized, calculated daily) on all outstanding portions of the Loaned Assets and Loan Fees. If a Late Fee is imposed under this Section 3.3 due to an event that would constitute an Event of Default under Section 8, the imposition of a Late Fee by the Lender does not constitute a waiver of its right to declare an Event of Default for the same event.

Unless otherwise agreed in the Loan Confirmation, any Loan Fee or Late Fee payable hereunder shall be paid by Borrower upon the earlier of (i) five (5) Business Days after receipt of an invoice from Lender or (ii) the termination of the relevant Loan hereunder (the “Payment Due Date”). An invoice for Loan Fees and any Late Fees (the “Invoice Amount”) shall be sent out on the first Business Day of the month and shall include any Loan Fees, Late Fees, and Early Termination Fees incurred during the previous month. Failure of Lender to timely send an invoice in accordance with the preceding sentence shall not be considered a material default under Section 8.4 nor shall it relieve Borrower of its obligation to pay any Loan Fees, Late Fees, and Early Termination Fees owed herein nor negate any Event of Default resulting from Borrower’s failure to timely pay such fees. The Loan Fee, Late Fees, and Early Termination Fees shall be payable, unless otherwise agreed by the Parties in the Loan Confirmation, in the Digital Currency on the same blockchain and of the same type that was loaned by the Lender under the Loan.

Notwithstanding the foregoing, in all cases, all Loan Fees, Late Fees, and Early Termination Fees shall be payable by Borrower immediately upon the occurrence of an Event of Default hereunder by Borrower.

For Fixed Term Loans, if Borrower returns any or all of the Loaned Assets prior to the Maturity Date, Borrower shall pay to Lender the Early Termination Fee (an amount as agreed in the Loan Confirmation by the Parties). The Early Termination Fee is due with the early repayment of such any or all Loaned Assets prior to the Maturity Date.

All transfer or other taxes or third party fees payable with respect to the transfer, repayment, and/or return of any Loaned Assets or Collateral hereunder shall be paid by Borrower.

Unless otherwise agreed by the Parties, or modified in the Loan Confirmation, Borrower shall provide as collateral an amount of Bitcoin (or “BTC”) (“Collateral”) and memorialized in the Loan Confirmation. Borrower shall, prior to the transfer of the Loaned Assets by Lender to Borrower, transfer the Collateral to Lender. For the avoidance of doubt, Lender is under no obligation to transfer the Loaned Assets to the Borrower until the Lender receives the Collateral transferred by the Borrower.

Collateral shall always be valued in USDT, but Borrower may, if mutually agreed by both Parties, provide the Collateral (in whole or in part) to Lender in an agreed Digital Currency and/or agreed type of property in an amount equal to the value of the Collateral in USDT at the applicable market rate determined by Lender. For the avoidance of doubt, upon the repayment of the Loaned Assets at the termination of a Loan, Lender shall return to Borrower the same amount and type of Collateral (including Additional Collateral) that was deposited, net of any Margin Call or Liquidation adjustments (as defined below in Section 4.3) in 3 Business Days after the termination date of a Loan.

During the term of the Loan, Borrower agrees and affirms that Lender is entitled to use of the Collateral, including, but not limited to, for the purposes of lending, investing, transferring to bank and other accounts upon which Lender, or a third party, is the account holder or the beneficiary, or pledging as collateral in other transactions. Such entitlement and use shall not relieve Borrower or Lender of any of its obligations hereunder.

Each Party agrees that all rights, title, and interest in and to any cash or Digital Currencies which it transfers to the other Party hereunder shall vest in the recipient free and clear of any liens, claims, charges or encumbrances or any other interest of the transferring party or of any third person.

Notwithstanding any other provision of the Agreement to the contrary, Borrower agrees that Lender may take a sufficient time to consider, verify, or otherwise block a transfer of Digital Currencies to ensure compliance with applicable laws, including any AML/CTF Requirements.

Nothing in the Agreement is intended to create or does create in favour of either Party any mortgage, charge, lien, pledge, encumbrance or other security interest in any cash or Digital Currency transferred by one Party to the other Party hereunder.

If the Current Level of a Loan is at or above the Margin Call Level, Lender may notify Borrower to transfer additional Collateral (“Additional Collateral”) to restore the Current Level (after taking into account the Additional Collateral transferred) to at least equal to or lower than the Initial Margin Level through email and telephone (“Additional Collateral Notification”). Borrower shall keep its mobile phone available to receive the Additional Collateral Notification.

If the Current Level of a Loan is at or below the Initial Margin Level, Borrower may, at its sole and absolute discretion, request Lender to, and Lender shall pursuant to Borrower’s request, return a portion of the Collateral provided that after such return, the Current Level of the Loan shall not be higher than the Initial Margin Level.

Upon Borrower’s repayment of all moneys, debts and present and future obligations and liabilities (whether actual or contingent and whether owed jointly or severally or in any other capacity whatsoever) due from Borrower to Lender under the Loan Instruments and acceptance by Lender of the Loaned Assets into Lender’s Digital Currency Address, with such delivery being confirmed on the relevant Digital Currency blockchain ten times, Lender shall initiate the return of Collateral within five (5) Business Days to a Digital Currency Address of Borrower.

Without prejudice to the foregoing, upon the full repayment of all moneys, debts and present and future obligations and liabilities (whether actual or contingent and whether owed jointly or severally or in any other capacity whatsoever) due from Borrower to Lender under all the loan instruments of the same type, Lender shall return (net of any applicable fees, charges, or other penalties) to Borrower the remaining total of the Collateral balance under that type of loans.

If the Current Level of a Loan is at or above the Liquidation Level (“Liquidation Event”), Lender shall notify Borrower to transfer Additional Collateral to restore the Current Level (after taking into account the Additional Collateral transferred) to at least equal to or lower than the Initial Margin Level through Additional Collateral Notification. Borrower shall keep its mobile phone available to receive the Additional Collateral Notification.

Borrower shall have twenty-four (24) hours from the time Lender sends such Additional Collateral Notification to (x) respond and deliver Additional Collateral to Lender, or (y) repay the Loan to restore the Current Level.

If Borrower fails to deliver Additional Collateral or repay the Loan in accordance with the paragraph above, Lender shall, without the need to provide any prior notification, be entitled to immediately liquidate or sell the Collateral and use the liquidation proceeds to purchase the Loaned Assets to repay the Loan. If the liquidation proceeds exceed the Loan Balance, Lender shall return such excess to Borrower within five (5) Business Days after repayment of the Loan.

For the avoidance of doubt, failure to transfer Additional Collateral following a Liquidation Event will not constitute an Event of Default with respect to Borrower under Sections 8.3 and/or 8.5 of this Master Agreement.

In the event of a Hard Fork in the blockchain for any Loaned Assets or an Airdrop associated with the Loaned Assets, Lender will receive the benefit and ownership of any incremental tokens generated as a result of a Hard Fork in the Digital Currency protocol or an Airdrop.

In the event of a Hard Fork in the blockchain for any Collateral or an Airdrop associated with the Collateral, Borrower will receive the benefit and ownership of any incremental tokens generated as a result of a Hard Fork in the Digital Currency protocol or an Airdrop.

The Parties to this Master Agreement hereby make the following representations and warranties to each other, which shall continue during the term of this Master Agreement and any Loan hereunder:

Each of the events or circumstances set out in this Section 8 shall constitute an event of default (each, an “Event of Default”):

No delay or omission by the Lender in exercising any right or remedy hereunder shall operate as a waiver of the future exercise of that right or remedy or of any other rights or remedies hereunder. All rights of the Lender stated herein are cumulative and in addition to all other rights provided by law, in equity.

All remedies hereunder and all obligations with respect to any Loan shall survive the termination of the relevant Loan, return of Loaned Assets or Collateral, and termination of this Master Agreement.

In the event Borrower fails to pay any amounts due or to return any Digital Currency or property or upon the occurrence of any Event of Default in Section 8 hereunder, Borrower shall, upon demand, pay to Lender all reasonable costs and expenses, including without limitation, reasonable attorneys’ fees and court costs, broker fees, and technology costs incurred by the Lender in connection with the enforcement of its rights hereunder.

Antpool Technologies (BVI) Limited

Attn: [***]

Email: [***]

Finfront Holding Company

Attn: [***]

Email: [***]

And will be deemed effective as indicated:—

except if it is specified in this Master Agreement that a notice or communication has to be given during Business Hours, in which case that notice or communication will be deemed given and effective at 10am (GMT +8) on the first following Business Day.

All modifications or amendments to this Agreement shall be effective only when reduced to writing.

The Parties acknowledge and agree that, and have entered into this Master Agreement in reliance on the fact that, this Master Agreement, and all Loan Confirmations form a single agreement between the Parties (collectively referred to as this “Agreement”), and the Parties would not otherwise enter into any Loans.

The Parties hereby agree that each Party may set off any obligation from the other Party to make payments, deliveries, and other transfers in respect of any Loan against any obligation owed by that other Party to the first-mentioned Party.

The Parties hereby agree that (a) each shall perform all of its obligations in respect of each Loan hereunder, and that a default in the performance of any such obligation by a Party (the “Defaulting Party”) in any Loan hereunder shall constitute a default by the Defaulting Party under all such Loans hereunder, and (b) the other Party (the “Non-defaulting Party”) shall be entitled to set off claims and apply property held by it in respect of any Loan hereunder against obligations owing to it in respect of any other Loan with the Defaulting Party.

This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and supersedes any prior negotiations, understanding and agreements. Nothing in this Section 18 shall be construed to conflict with or negate Section 17 above.

This Agreement shall bind and inure to the benefit of the respective successors and assigns of each of the parties. Either Party may assign this Agreement or any rights or duties hereunder with the prior written consent of the other Party (such consent to not be unreasonably withheld or delayed).

Notwithstanding the foregoing, in the event of a change of control of Lender or Borrower, prior written consent shall not be required so long as such Party provides the other Party with Written Notice prior to the consummation of such change of control. For purposes of the foregoing, a “change of control” shall mean a transaction or series of related transactions in which a person or entity, or a group of affiliated (or otherwise related) persons or entities acquires from stockholders of the Party shares representing more than fifty percent (50%) of the outstanding voting stock of such Party.

This Agreement shall not create any rights in favor of or impose any obligation upon any person or entity other than the Parties and their respective successors and permitted assigns. For the avoidance of doubt, any and all claims and liabilities against Lender arising in any way out of this Agreement are only the obligation of Lender, and not any of its parents or affiliates. The Parties agree that none of Lender’s parents or affiliates shall have any liability under this Agreement nor do such related entities guarantee any of Lender’s obligations under this Agreement.

Each provision of this Agreement shall be severable from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision.

This Master Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement.

Nothing contained in this Agreement shall be deemed or construed by the Parties, or by any third party, to create the relationship of partnership or joint venture between the parties hereto, it being understood and agreed that no provision contained herein shall be deemed to create any relationship between the Parties other than the relationship of Borrower and Lender.

The failure of or delay by Lender to enforce an obligation or exercise a right or remedy under any provision of this Agreement or to exercise any election in this Agreement shall not be construed as a waiver of such provision, and the waiver of a particular obligation in one circumstance will not prevent Lender from subsequently requiring compliance with the obligation or exercising the right or remedy in the future. No waiver or modification by either Party of any provision of this Agreement shall be deemed to have been made unless expressed in writing and signed by both parties.

Subject to provisions to the contrary contained in this Master Agreement (including but not limited to Section 2.3.1), this Master Agreement may be terminated by either Party upon the later of: (1) the last terminate date of all outstanding Loans; and (2) the date mutually agreed by both parties.

IN WITNESS WHEREOF, the parties have caused this Master Agreement to be executed and delivered as of the date first above written.

EXHIBIT A

Authorized Agents

EXHIBIT B

Loan Confirmation

This document constitutes a “Loan Confirmation” referred to in the Master Loan Agreement dated November 4, 2024 (“Master Agreement”) between Antpool Technologies (BVI) Limited (“Lender”) and Finfront Holding Company (“Borrower”) and supplements the Master Agreement with the following specific terms in relation to a Loan dated the Loan Effective Date. In the event of any inconsistency among the Master Agreement, or the applicable Loan confirmation, the following will prevail for purposes of the applicable Loan in the order of precedence indicated: (i) the Loan Confirmation; and (ii) the Master Agreement.

EXHIBIT C

Notice of Change of the Authorized Agents