Wes Cummins: Yes. So we haven’t had any price reductions in at all? I mean, it would be, it wouldn’t be fair to say that you’re our customers, even prior to where prices were aren’t always trying to negotiate the best price, all the time. So that’s on-going. And I don’t think our industry is unique for that. But I think we are one of the lowest cost operators out there. And so, I don’t we don’t get a lot of pushback about that. And I don’t really know what else to say.
Kevin Dede: No, yes. No, that’s fair. I appreciate the color. I do. Chris brought up the investment fund. And you mentioned, you mentioned looking at opportunities there. And then my understanding is perhaps I don’t understand it well enough to just help me get my, my thinking straight on whether or not your participation exists exclusively, on the hosting of assets that your partner’s here delivered to your sites? Is that how to think about it?
Wes Cummins: No, it’s twofold. So that the guys that GMR would run the site or run the fund, the actual mining of it. And they do I need to get into it too much. But they do some things around it as far as hedging and selling and things like that. But think of it as a mining, SPV or hedge fund, and there’s a management fee on it, and we would get the hosting contract from the fund plus, we would share and 50% of the economics on the on the fees, and then GMR would run the fund. Does that make sense?
Kevin Dede: Yes, so they run the fund, you run the machines?
Wes Cummins: The management.
Kevin Dede: Split the management fees, but not the, I guess the Bitcoin mined?
Wes Cummins: No, that goes to the investors.
Kevin Dede: Right. Okay. And can you give us an indication on? I mean, obviously, the markets pretty depressed. I mean, I know that you’ve for Applied haven’t seen anything, but have the GMR guys pulled the trigger on anything yet?
Wes Cummins: So there’s multiple conversations. And I’m not directly involved in those conversations, but conversations going on, on two fronts. People put capital directly into the fund. And then also, some institutions, that are more financially oriented institutions that have that are in possession of crypto miners having an interest in doing an in kind contribution if that makes sense.
Kevin Dede: Oh, absolutely. Yeah, I could think of a bunch of companies that are in that situation. All right. Last question for me is just on your I mean, I know David pointed to I think $25 million maybe left to spend to build everything out that you’ve got set up. I was just wondering if you could speak to the how dynamic those costs have been right whether or not prevailing or how prevailing economics major changes inflation driving costs up or you seeing costs come down maybe on account of less lower aggregate demand for those types of things given the Bitcoin reset?
Wes Cummins: We’ve remained pretty on budget. We’ve seen some opportunities with finding equipment for some discounts, but mainly just contracted long along the way and keeping on budget. So no large swings bearing from our budget.
Kevin Dede: Okay, thank you very much, gentlemen. Appreciate the opportunity to put me in.
Wes Cummins: Thanks, Kevin.
Operator: We have a follow up question from the line of Lukas Pipes. Please proceed with your question.
