And, we can help monetize that which is good for the country. And, it’s good for us. And, as we said in the script we expect when this facility is fully activated and it’s going to our lowest cost energy of any of our sites. Right now where natural gas prices are, we think it’s going to be $0.03 per kilowatt or less. It’s an eight-year contract. The first four years, 60% is at $0.02 per kilowatt. And, the rest is at market prices which we do not exceed — expect to exceed much over $0.03 per kilowatt. So, we are very hopeful that this will be sub $0.03 power which will bring our total cost across our whole fleet down, and down quite significantly. So, this is a strategically important area for us, strategically important for our shareholders.
And we know it’s taken longer to put in place. And it has been bit of a black cloud for our shareholders and our valuation. So, we are excited to, hopefully, pass this hurdle soon. And, show everybody that this is going to be activated in a very successful project.
Bill Papanastasiou: Thanks, Jeff. Lastly, just want to circle back to the equipment credit that Kevin was asking on and just expand on it a bit more. If I do some back of the envelop math, it appears that for you to consider $15 per terahash pricing phases, you know, you get to about 6.2 exahash of the existing 4.7 and drastically reduce the machine efficiency. Are you able to comment on whether there is a particular make that you like — there is a — in terms of what basics you would select to deploy into the Argentina facility? Does the credit pertain only to MicroBT, or can you purchase other types of equipments? And my understanding is that MicroBT has been a significantly utilized — others have been significantly utilized at Bitfarms and you continue to get very high efficiencies. Just any color on there?
Jeff Lucas: You are right. It’s been — a good portion of our fleet is MicroBT M30 series miners. They are our workhorse. They have been tried and true. When they do falter, we have the knowledge at our repair shows to fix them and get back in action. And, they have amazing longevity. They are not a super higher performance unit, but they truck along with very good efficiencies, and yes, your math in terms of calculating exahash, ears some of our calculations as well. So, it really represents an opportunity, should an acquisition come along, that we can utilize that credit elsewhere, but yes, these credits are all for MicroBT units, we have the flexibility that we don’t have to put them all in Argentina, but that seems to be the low-hanging fruit right now, so that’s where we will go.
But we’re open sort of beyond that 6 exahash to putting them elsewhere as well. But as we look at expansion opportunities, we’ll be happy to use the Bitmain equipment as well. As I said earlier to Kevin, it’s just a mix of the circumstances at the particular site and the capital cost that goes with the miners versus their performance. And then when we make the decision.
Jeff Lucas: Bill, about 85% of our miners are MicroBT and we’ve had a great track record, as Geoff pointed out, and the repair record of these things is excellent.
Bill Papanastasiou: Thank you. I appreciate the color, guys. That’s all my questions.
Jeff Lucas: Thanks, Bill.
Operator: And our next question will come from Dillon Heslin with ROTH MKM. Please go ahead.
Dillon Heslin: Hey, thanks for taking my question. First, I wanted to talk a little bit about Argentina again, talk a little bit about the next steps of the build out, sort of being on pause. What exactly do you think you need to see to give you confidence that you can continue to pursue that opportunity?
