Greg Beard: Yes. So, I think what we are referencing there is we don’t have room for that 25 megawatts at our existing data centers. So, we are looking at a variety of options as to where to put those megawatts. So, to fully fund the part is we have the transformers, the containers, the switchgear, sort of it’s a it would be a small amount of CapEx to be able to install that data center given we have the CapEx-heavy part of the cost already in our possession, unencumbered, But we are not ready yet to state where that 25 megawatts will come from.
Kevin Dede: Fair enough. I am going to press you a little bit more on that, Greg. Your next 12 months forecast look favorable, right, from an adjusted EBITDA perspective. It seems to me that given you have worked really hard to de-lever, how would you consider adding a third power plant, which I seem to remember was part of Stronghold’s original plan, I think going back to €˜21?
Greg Beard: No. We €“ obviously, right now, I think we have no interest in re-levering the balance sheet. So, I do not put that in any model. We are going to stay
Kevin Dede: I wasn’t going to go there. I just wanted to know how you thought about it.
Greg Beard: Yes. And I think what you would expect is, hey, there are a number of Bitcoin mining operations that got halfway done, that maybe entered into or got close to entering into power purchase agreements even in our own neighborhood, which is probably where we want to stay, to expect us to have that 25 megawatts at a site that we don’t own, where we buy power on maybe a subcontracted basis from either another miner or from a power producer. It’s not €“ it’s really a €“ it would be significant for us to go from four exahash to five exahash. And so we are focused on that. But we are not going to buy another power plant to do it. We think there are opportunities in our neighborhood to plug that infrastructure in and just buy the power, some power rate. It will probably cost us more than if we were to make it ourselves owning the plant, but that’s not going to happen this year.
Kevin Dede: Okay. Thank you. Thanks for taking my questions. Appreciate it.
Greg Beard: Thank you.
Matt Smith: Thanks.
Operator: And thank you. And I am showing no further questions. At this time, this concludes our question-and-answer session. I would now like to turn the call back over to Mr. Beard for closing remarks.
Greg Beard: Great. So, thank you, investors. Thank you, analysts for your interest. And we have had a €“ 2022 was an extremely painful year for the company. We set ourselves up to survive through all of these restructurings we did with our lenders, we are thankful to them as well, in addition, just €“ one of our vendors. So, we are €“ I am happy to say that we are through the woods here and have a lot of upside to our model. There is a lot of accretion that we can have with the growth activities that we are working on. And we look forward to posting on the market on our progress. Also, thank you to our teams at the power plants, at the data centers and the finance team. Thank you to my partner, Bill. So, we are happy that we will have sunnier skies ahead here, and we are positioned to take advantage of it. So, thank you everyone. Bye-bye.
Operator: Thank you for joining us today for Stronghold’s earnings call. You may now disconnect.
