WEBVTT

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Yeah the third quarter was the first full

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quarter where we were operating as a combined

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company under DarkHorse.

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One of the major things that we did

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was shored up the balance sheet and made

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sure that we have plenty of liquidity and

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capital on there and so between about a

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five million dollar pipe round that we did

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in September that was led heavily by myself

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and a couple fellow directors to support kind

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of the stock and the investments and in

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addition to that we put some cash in

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the balance sheet by selling off a non

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-core site in Iowa.

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It was a smaller site and geographically it

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just didn't fit into the portfolio that we

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were looking to develop and expand and the

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third piece is we sold off a number

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of the self-mining Bitcoin machines that we

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had to put more cash in the balance

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sheet. So we ended the third quarter with

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a pretty strong cash position on the balance

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sheet and I think that was important as

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we make this kind of transformation and start

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fueling some of the growth capex on the

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pre-development stuff on the AI/HPC.

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So that was kind of a major item.

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The second thing that occurred was the new

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Bitdeer hosting agreement that we announced several months

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back. Those machines started to come online across

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our sites and as we sit here today

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now post third quarter all those machines are

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up and running and have been delivered from

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Bitdeer. So you'll see that kind of trickle

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through probably into the fourth quarter and a

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couple quarters on the future and again I'll

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remind everyone that we partnered with them but

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we built flexibility into those agreements and so

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that will not stop us from the pursuit

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and development of the AI/HPC.

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I would say those were the major impacts

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we had in addition to adding more power

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and power opportunities into the pipeline.