The Company remains positive on the longer-term potential of the industry and taking advantage of the prevailing poor sentiment, placed an order for 1,140 units of Hydro S19XP (20.8J/T) supercomputing servers, at highly attractive prices in November 2022. 

The Company further underlined their commitment to the business by acquiring a piece of land in Duff, near the city of La Follette in the State of Tennessee where construction has begun for the completion of a 10-Megawatt data center by August 2023. The new miners will be progressively delivered from July and form a formidable addition to the Company’s existing fleet, with its estimated hash rate of 285,000 TH/s. The Company has also purchased six sets of hydro containers (Antspace HK3) along with the hydrominers and these are on transit and expected to arrive on the site by the end of June. 

The Company has entered into a Memorandum of Understanding with the local utility board for a 10MW power supply at highly competitive rates.