Adam Sullivan: Hey, Kevin, I’ll take that question. So really, how we’re thinking about today — yes, of course, the $19 million that we paid off early in the second quarter was related to Mechanic’s Liens to build out that 72 megawatts at our Denton facility. We have some additional debt service over the course of this year that will pay down some additional principles. As we evaluate the evolving market that we’re in today, what we believe, based on our analysis — is that it’s better to put capital towards growth than paying down debt at this point. And so we are going to continue to fund growth, and that may change over the course of the next month, the next quarter. But today, our focus is on continuing to fund the growth of this business. So we believe it’s more accretive to our bottom-line.
Kevin Dede: Prefect Adam. I appreciate that nuisance. Thanks for sharing.
Adam Sullivan: Of course, thank you Kevin.
Operator: Thank you. The next question comes from the line of Jack Chan with Imperial Capital. Please proceed.
Jack Chan: Hi, thanks for taking the question. On the HPC, curious to know if the potential clients reached out to you directly or did you reach out to them? And how much of the 500 megawatts would be potentially taken by these clients you’re in talks with?
Adam Sullivan: Yes. Thank you for your question. I would have to say it’s a bit of a mix of both. People recognize the platform that we’ve built. They know the locations of our sites, and they know the capabilities that we have on our internal team. You look at our operations team up and down, coming almost directly from the data center industry with decades of experience across each member. And so that is experienced at the traditional data center industry as well as the tech-industry know and they know many of our team members very well. And so it was a bit of a combination of both inbound, as well as some outbound calls to certain partners that we knew may be interested. Our goal right now is to repurpose about 500 megawatts to HPC.
And really, what we are focused on is trying to accomplish this potentially depending on how negotiations and discussions go with potential clients over the course of the next three years to four years. And so that’s really what we are focused on today, executing on our growth plan, not only in the bitcoin mining side but also on the HPC side.
Jack Chan: Thank you. And I think, you said the timing of a potential deal could be in this year or did I mishear that?
Adam Sullivan: Yes, that’s something that we are going to be updating the market as these negotiations, conversations evolve. So as we get to more definitive decisions around this, we will be announcing that to the market.
Jack Chan: Thank you.
Operator: Thank you. There are no additional questions left at this time. I will hand the call back over to Steven Gitlin for closing remarks.
Steven Gitlin : Thank you, Tia. With no further questions, we thank you for your attention and your interest in Core Scientific. An archived version of this call, all SEC filings, and relevant company and industry news can be found on our website, corescientific.com. We wish you a good day, and we look forward to speaking with you again following next quarter’s results.
Operator: That concludes today’s conference call. Thank you. You may now disconnect your lines.
