Release Date: November 13, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Could you elaborate on your efforts in high-performance computing (HPC)? Are you planning a new facility, or converting existing ones? A: We are looking for new spaces to launch our AI initiatives, as the current facility in New York is not ours. We are actively exploring options for this expansion.
Q: Has there been any change in your cost of power recently? A: Our power costs at Coinmint have been stable, averaging around $0.062 to $0.063 per kilowatt hour, slightly up from the previous quarter. We are exploring alternatives to reduce these costs and expect to announce developments by the end of December.
Q: What was your average Bitcoin price during the quarter, and how does the current price affect your profitability? A: The average Bitcoin price was $59,224. While the current price is over $90,000, our costs include a profit-sharing component with our hosting partner, which increases as Bitcoin prices rise.
Q: When can we expect updates on your fleet relocation and infrastructure changes? A: We will provide an update on our fleet relocation by the end of the year. Our current agreement with Coinmint runs through the end of the year, and we aim to minimize disruption during the transition.
Q: What expertise does Dan from Anchorage bring to your Board, especially regarding your AI agenda? A: Dan co-led the portfolio at Anchorage and is well-versed in the mining space. He provides valuable insights on machine procurement, power sourcing, and industry trends, enhancing our strategic direction.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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