Kevin Dede: Okay. Is your team responsible for the sales and marketing there or is that all Zenlayer?
Jaime Leverton: It’s combined. The teams work together.
Kevin Dede: Okay. Are those machines, do you think the ones that’ll be directed toward rendering zero proof and other HPC applications? And could you give us sort of a run through on how that partnership €“ the financial side of that partnership looks for Hut 8?
Jaime Leverton: So the Zenlayer partnership is, it’s really more bare metal. It’s not the GPUs that, that we’ve repurposed into the data center. So those are two different environments. And when we speak about repurposing the GPUs and using them for Layer 2 and zero-knowledge proof that’s separate from the relationship and partnership with Zenlayer.
Kevin Dede: Okay. Any more insight to how, I guess, how things translate for you on both accounts? Like on the GPU side, do you have any expectation on what your computing power there could generate in revenue and on the Zenlayer side?
Jaime Leverton: No.
Kevin Dede: Okay, too early.
Jaime Leverton: It’s too soon to give guidance, Kevin. We’re trialing a number of different types of workloads and applications with those GPU’s. So, no, I can’t give you guidance this morning.
Kevin Dede: Any other variance on the ETH mining side though, have you considered?
Jaime Leverton: We’ve looked at other alternative chains. We haven’t found anything where the economics are what we would want them to be, but looking at opportunities potentially for machine learning and AI workloads as well.
Kevin Dede: Okay. Can you speak at all to capacity utilization at the HPC sites; say the end of 2Q versus the end of 3Q?
Jaime Leverton: I don’t have those metrics, Kevin, but what I will do is find €“ we’ll pull them and share them when we have them. I just €“ I don’t have them at my fingertips. That’s a good question.
Kevin Dede: Okay, thanks. Just remind me please though, Jamie, what was North Bay slated to be all told? I mean, I seem to remember there was an expansion option for you there. Was it to go to a 100 or something, I can’t remember?
Jaime Leverton: Yes. The PPA was for up to 100 megawatts with the first phase being 35 megawatts.
Kevin Dede: Okay. Okay. Have you considered at all, I guess given how the energy market’s royal juice sort of trying to hedge your, your power costs in Alberta?
Jaime Leverton: We have explored options, none that we’ve pursued at the present time.
Kevin Dede: Okay. And given you’re very comfortable in cold storage, when do you think you might consider putting your Bitcoin to work again?
Jaime Leverton: Yes. I mean we were hopeful that that we’d be in a different position frankly. But as a result of the incidents that kicked off over the weekend, we just really don’t feel comfortable again until we see that that contagion run through. So my guess is we’ll revisit towards the end of this year, beginning of next year, but again very, very much about the state of the market where we think the risks are because obviously protecting that stack is critically important.
Kevin Dede: Appreciate it Jaime. I think the potential for the tether on hedge is pretty ugly too, so I think everyone on the call is with you on that. Thank you very much.
Jaime Leverton: Thank you.
Kevin Dede: Really appreciate it.
Jaime Leverton: Thanks, Kevin. Our pleasure.
Operator: There are no further questions at this time. I’ll turn it back to you for closing remarks.
Jaime Leverton: Okay. Thank you so much, Karlen. Thank you again, everybody for joining for your continued support. We really, truly appreciate it. And we’ll talk to you soon.
Operator: Ladies and gentlemen this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.
