Zachary Bradford: We would probably look at cash on the balance sheet and also equity. We’re at a stage two where there are small groups, private, public, both sides, that of interest to them is not selling and giving up, but it’s really joining the team. And as part of joining the team, they would take equity. Historically, almost all of our transactions where we’ve acquired companies, it’s been in the form of cash, because the other parties needed cash to pay off debts or obligations, things like that, so they didn’t have a choice. Some of these operations now, again, it’s about joining the team. And so, I think that we could see an acquisition, even where equity is the sole use that we have where they become shareholders. It’s not an issuance of –into a raise, but instead where they fold in and become part of the CleanSpark team.
Brian Dobson: Yes. Very good thanks. I’ll hop back in the queue. Thanks very much.
Zachary Bradford: Thanks, Brian.
Zachary Bradford: And your next question comes from the line of Reggie Smith with JP Morgan. Your line is open.
Unidentified Analyst: Hey, thanks for taking the question. This is Charlie on for Reggie. I was hoping to get a few more details on the two Wyoming sites. First is the 40 megawatt site, was that site already being used for Bitcoin mining? And then second question related to the 30 megawatts site. Have you guys built out a facility from scratch before? I know your recent acquisitions have been turnkey. Just wondering what experience you have in building out a greenfield site. Thanks.
Zachary Bradford: Hey, Charlie. Thanks for joining the call. I’ll address the buildout. We just finished 150 megawatt buildout. Before that, we built out 80 megawatts. Before that, it was 20 megawatts. And before that, it was 30 megawatts. So we have quite a few megawatts in a lot of different locations under our belt, so I consider us pros on the on the build outside. As it relates to these sites, the 45 megawatt site, yes, has been used for Bitcoin mining. But as part of the purchase the seller is taking the equipment with them, which we’re okay with, because we like the sites to be built the CleanSpark way. As we mentioned, we prioritize high uptime as one of our key tenants. We will be adding in infrastructure to support that tenant of high uptime.
And again, the benefit though is some of the utility side is already done. So our goal is to be able to come in, drop transformers, drop the infrastructure quickly. And so, even though the other party will be removing their infrastructure, which is in the form of pods, we should be able to drop things in right on the back end of it very quickly.
Unidentified Analyst: Got it. And then in terms of longer lead time items, like transformers, maybe I just missed it. But are those staying on site, or do you have those on hand and you’re going to be bringing in your own, any details that would be great?
Zachary Bradford: Yes, we stay ahead of the curve by actually buying more infrastructure than we have immediately going on. So we have over 50 megawatts of transformer and switch gears already ready to go. So that will be our jumping off point. We have strong relationship with these manufacturers with the ability to ramp up their supply chain. So in this case, as of right now, we do not see supply chain constraints impacting these at all, because we already have a very large portion of the 75 megawatts already secured.
Unidentified Analyst: Perfect. Thanks for taking the question.
Zachary Bradford: Appreciate it. Thanks, Charlie.
Operator: And with no further questions, I would now like to turn the call back to Mr. Isaac Holyoak for closing remarks.
Isaac Holyoak: Thank you, Regina. And thank you to all who joined our earnings call today. We look forward to sharing more of our journey with you in the coming quarters. Stay tuned for more groundbreaking events from CleanSpark.
Operator: Ladies and gentlemen, this concludes today’s call and we thank you for your participation. You may now disconnect.
