Geoff Morphy: And I was remiss in my previous comment at saying that between the, approximately, 10 megawatts that we’re drawing now and approximately 26 megawatts, when they turn on at utility scale, they will produce more power than we need, and they will sell that power to the grid. That tends to be at a loss to them, so we’ll have to make it up. But it’ll be a blended power rate that will take us down to what should be $0.03 per kilowatt and expressed in U.S. dollars, or less, once we’re in production there.
Kevin Dede: Okay.
Geoff Morphy: And, yes, we’re drawing generally 8 the 10 megawatts right now, and with full sites on, on drawing a full 50 megawatts later this year.
Kevin Dede: So per your discussion, Geoff, regarding the government, do you think they’ve sort of backed off a little bit on the custom clampdown, and do you think machines flow in with less hiccups in the future such that you can get to that 26 meg consumption more in (ph) than the full 50 in the third quarter?
Geoff Morphy: No, a different lens, Kevin. Under the former program, they provided an advantageous exchange rate, called the blue chip exchange rate; it’s called a variety of things that us and a variety of other foreign direct investors were taking advantage of to bring equipment into the country. It was a more favorable exchange. But that also impacted the country’s balance sheet at a time when it really didn’t have the wherewithal to be able to stomach that any longer. So, it put a stop to that practice. And then it needed to bring in new channels to be able to allow foreign direct investors to invest in the country, which it’s now done. And because we have been there for two years, have employees in the country, have a track record of being able to build and pay suppliers, we now have what the application required to be able to submit the application and get approval to become a director importer.
When we’re a direct importer, we can bring equipment in. We will pay not at the CCL or the blue chip exchange rate, but at the official exchange rate. But we will also have substantially less in (ph) charges to do it. They pretty much offset each other, but the best part of it is that under this new approval process, which are in the queue and we feel very strongly that we’re going to get approval within the next 30 to 45 days, that we’ll be allowed to be a direct importer. And while there’ll still be communications with the government and smaller approvals, it’s in their best interest because of the cash flows it will be bringing to the economy to approve that application, and we’ll be a good corporate citizen being able to do that. We’re excited for that to happen.
Kevin Dede: Okay. Now, with regard to the $22 million credit, you foresee dedicating its use to going from this 26 level you’re anticipating near-term to 50 in the third quarter in terms of megawatts?
Geoff Morphy: I’ll get Jeff answer that. But it’ll take us from the eight to 10 that we’re at now or right up to the 50, and still have some credit left over. But go ahead, Jeff.
Jeff Lucas: Yes, sure, thank you. Good morning, Kevin. So, we have right now a little under 2,500 miners that are deployed there in Argentina. And we’ll be looking to approximately 13,000 for the full 50 to 52 megawatts take advantage of that. The capital costs for those miners is completely covered, and then some, as Geoff pointed out, with the $22.4 million of credit that we have there. So, in other words, we will be capping a large portion, but not the entirety of that credit to fulfill and meet our capital requirements for the miners, but fully for the first warehouse.
Kevin Dede: Okay. And that gets you to the 6 exahash target you’re offering for the year?
Jeff Lucas: Correct.
