Shanon Squires, B.A., ACSM EP-C, has taken a deep dive into Blockchain, Cryptocurrencies, Digital Tokens and Mining. From educating others and successful trading, to building a mining farm pilot project. Shanon has acquired a vast and well-rounded body of knowledge in this new asset class. Over the years Shanon has developed key connections in the manufacturing of miners, mobile data containers, and energy acquisition.

https://www.pscp.tv/w/1BdGYQPwbrgGX https://www.facebook.com/groups/crypto.mining.tools/permalink/545448446369128/ https://www.facebook.com/cryptominingtoolspodcast/videos/229985588121280/ https://www.facebook.com/scott.offord.milwaukee.seo/videos/10163212180525024/

Transcription

Yeah, we’re live. All right. All right. Hey everybody. Welcome to the crypto mining tools podcast and I’m your host, Scott offered and we have Ethan. Hi. Hi everybody. And then you know, down down below here we’ve got Shannon. Yeah, Shannon Squires. Thank you for coming on our show. Shannon Jen is somebody that we’ve been working with the last little while here with crypto mining tools. He’s helping us getting our hosting directory up and running and he’s got a wealth of knowledge to share with us. First of all, Shannon, why don’t you just tell us a little bit about your history and kind of how you got into this whole mining space?

Yeah. so basically I got involved with cryptocurrency. I guess I get into 2016 and early 2017 and obviously didn’t put any money behind it so enough. And from a friend who’s a banker he asked me some questions about it. I’m a bit of a nerd and once I started digging into it, I had a handful of GPS at home. So obviously as any gamer with the computer, they can make money off their GPU is I started mining Etherium I minded a few different ways and then I got a little bit crazy about it and set up a bunch of GP rigs, got them running in my crawl space in my house. My wife was not a huge fan, but probably mind, I don’t know, a hundred different alt coins in that process and learning and build a few different rigs, a few different ways.

Did some day trading in 2017 lost a decent amount of money, one of these and the amount of, you know, everything and then lost it all when it crashed. It is a little bit that I had left to buy my first batch of [inaudible]. And those were too noisy for the house. So my wife was anybody, obviously you guys here, you’ve heard a six run, you know, 50 plus decibels screaming all the time. And there’s ways to quiet ’em for the DIY guys, you know, putting them in different coolers and wrapping them with sound deadening stuff and basically making mufflers but wasn’t super feasible. Ended up with a business partner who’s a retired tax attorney and he said, Hey, let’s put together kind of a pilot project and modeling how we’d build a container and do that. So we set up a tough shed in his backyard and set up a hot side cold side and put it in the few GP rigs.

But in the handful of basics got it. Running profitably off of I think at the time Colorado was like 9.9 cent power. In the summertime, Colorado goes up to 14 and a half percent power. Sorry if my daughter’s singing in the bathroom, homeschooling like everybody. Right. Yeah. And so I had some ebb and flows with that and definitely the ins and outs of controlling air float in the containers and be here within the facility, whatever, however we were going to build it, which was a key to not overheating everything, made a lot of great contacts within the async world and trying to purchase those. And obviously that’s how I eventually ran into Scott is looking at you know, buying some of their resell minors for various projects and putting those together. Once we had that pilot project up and going and it was running for a few months and we were able to, we actually have a U S bank accounts, so one of the few business accounts I think that can directly accept transfers from cryptocurrency exchanges.

That took a lot of work and got that done. So everything was on the download. We weren’t using international accounts. And then we went and looked for funding. Looking for funding was a new task for me. I’ve wired a whole bunch of electricity different projects in my life. I’ve done a bunch on the computer hardware side in my life and construction and all that. So the majority of the aspect of putting together a mining container, mining farm, that type of stuff is something that was just, I had the ability to do fundraising was not in my wheelhouse and that was kind of where my business partner came in. He has a wealth of contacts for many, many years. He’s the gray hair cited to that project. And so we started going through them to get capital, got finally got a partner. We’re working on getting that capital together and that kind of fell apart in the last year as far as the capital to put together a full scale 30 megawatt natural gas stranded gas power plant and Bitcoin mining project. So at the beginning of this year we started essentially trying to progress that project again and get it up and going at a new location. So started sourcing those and moving through that whole processing again. That’s kinda the background on the cryptocurrency side of things. I hope that covers it all.

Well. It kind of sounds to me like you’ve come to the same conclusion that I’ve seen many people come to is that maybe like the home mining situation is, is pretty much dead. Like it’s just, you can’t really pull it off mining from home. So it’s kind of like go big or just get out. And it seems like you went that direction as well.

Yeah. And so, I mean the biggest thing is just the cost of power. I’ve said this for years, I don’t know, I think like, to think I coined this phrase, but essentially Bitcoin is the global arbitrage of power. Basically if there’s a way to produce power cost-effectively, you want to get there and mine it because that’s gonna allow you to be profitable regardless of how large the network hash rate grows, regardless of how low the price goes. If you have the lowest cost of power, lowest cost, Bruce a Bitcoin whether, you know, all metrics included, operational costs, all that fun stuff, when everybody else has shut down, you’re still going to be running. So typically running basic miners in your house, you know, you can wire two 20 and get them running in a shed in your backyard, you’re going to be buying power from a utility.

And utilities are selling retail power and that’s expensive. So there’s some places that have some awesome unique ability to buy retail power but even then doesn’t get you super cheap. And so over the process of the last few years, you know, we went from, Hey, here’s how we manage and realizing that if you look throughout big points, history and the hardware and you all are comparisons, you have, you know, sub 5 cent power, you’re going to, you’ve been profitable this entire time with the hardware you’ve had, as long as it was newer than like an a seven, right? If there’s time, if you had cheap enough power as sevens, we’re still slightly profitable depending on where you’re located. So,

Wow. Yeah. Now recently, you know, we’ve, we’ve kind of come into a very difficult situation where we’re in a, in a tough time right now and this, this is, it’s created a global issue that has, you know, created a, an oil war if you will. And the, the price of oil is tanked and everybody is very fearful that our economy is going to suffer greatly. And especially in the, you know, energy aspect of it. When the price of oil went up above a certain level, it became very profitable to, you know, drill and get oil and, and here in the United States and now because the price of oil has tanked, it’s, it’s no longer feasible and people were really worried about losing their jobs. Do you think by cryptocurrency going to, you know, these stranded resources and utilizing these stranded resources might be a viable way to keep them going, to keep them alive?

It’s kind of a balancing act. So the reason why natural gas was so cheap is because, like you said, we’re producing oil. So for, I am, you know, much more familiar with Colorado than everywhere else, but it’s pretty similar. Essentially you want a presale, you drill a big hole in the ground, you frack it, you do all the things to get the oil out of it. Natural gas is in the way traditionally. And in some places you still can, they used to just flare that gas so you’d see those big oil derricks with the flavor coming out the top. I grew up in a small town in Colorado that lives and dies off the mining industry, whether it’s natural gas, oil, soda, Ash, whatever. And so you’d see these towers, you know, all across the night sky just lit up flaring, gas. So with the new EPA laws and restrictions on that, you can’t shut a gas the same amount.

You could be forced. So now all of a sudden you’re trying to produce oil because that’s worth money and you got all this gas. It’s in the way. So they’re shutting the gas into the pipelines and the pipelines are getting filled up because either the oil producers, so the refineries that take the, sorry gas producers, there are fighters that take this rod, natural gas mix out all the liquids and all that stuff and get it to methane before they put in the pipeline are either tapped out in capacity or there’s not buyers on the other side. There’s no one buying the gas because it’s not being used for anything. And so it’s getting backed up and that’s one form of what they call stranded gas is essentially it’s getting stuff in the pipeline and there is no one to take it on the other side.

So in that situation and from recent experience that basically the whole bunch of people have already lost their jobs. So the oil we’re happened, it’s no longer profitable to produce oil in the same way they’re doing before. Therefore there’s no natural gas coming in. I was in talking with a gas producer recently and they closed their plants. A handful of my contacts over the last few weeks have lost their jobs and it’s been kind of a mess and it’s definitely scary and sad and we know it’s gonna come back. We know that, you know, the people that are crushing oil prices right now can’t do it forever. Cause obviously even over there you can’t produce oil for those prices. They’re just selling it at a loss hoping to push out competition and it can’t, it only lasts for so long. And the other type of stranded gas are like in Colorado in the 1950s, they came through drilling for oil and all they found was natural gas.

So there’s thousands of Wells that were just drilled in fields all over Colorado. Just nothing but natural gas. Yeah, yeah. I mean there’s other liquids in there but not enough to produce, are worth producing. And they were never connected to a pipeline so they’re not being collected. And these Wells are essentially a capping liability. So people are if you own them, you got a cap on or a, you know, you can get in trouble. I’d have to pay fees. And that type of thing. The majority of these Wells though don’t produce enough gas to even like set up a whole container of miners. You’re not going to be able to get a megawatt off of them. You’re not going to be able to get enough to produce. And and so it’s a little bit different story. That was the first route we were going is trying to use some of those stranded gas Wells to bruise power for Bitcoin mining.

Cause if you could produce enough, it’s super cheap, relatively speaking. And we also had a, you know, an Excel pipeline next to it, all that kind of stuff. So we had backup and stuff to get to scale. We’ll fix it later. Mckayla, ALA everybody says hi to you. And so yeah, so that’s kind of a strain of gas world. So I don’t know that Bitcoin can necessarily, I mean there’s the possibility there. So we’re trying to talk to that one. Gas producer who essentially shut down and trying to get, you know, find out if there’s, you know, people still pushing gas in the pipeline, what type of super cheap prices, you know, break even production. Can we get that for and see if we can put together a, you know, a project still with them. I actually just listened to a podcast you’d a few not too long ago with a gas producer who essentially shut off his pumps to run ACE and like, sweet you gotta send this to those guys. Some catching up on your podcast and some like that’s exactly the path we kind of ran into. All on her own is what trying to talk into gas producers into what he’s doing because that is typically the people in the gas oil industry don’t look at natural gas from a standpoint of I’m going to turn this into Bitcoin and sell it for something that has a large value. They look at it from a standpoint of like, I’m selling natural gas to a power plant.

Jupiter is the largest planet. Good, good to know. So again, but so trying to get them to look at it as instead of monetizing natural gas for a power plant where monetizing natural gas for Bitcoin or cryptocurrency or any cryptocurrency for that matter. Sorry, fix them. Bitcoin. currently there’s a handful of GPU stuff that’s working well. I’m going to take care of this one second. I apologize.

No worries. I’m going to talk about Novablock. Our sponsor, a big shout out to Novablock. I’d like to you know, let everybody know that they’re really new on the scene, but in a very short period of time, they have become one of the top pools that are out there and they believe that as hash rate is shifting away from China. And we all know that China is kind of in a really bad spot right now and moves towards, you know, freer countries like North America that they want to be the leader in doing that. And they want to be the leader by giving all of their customers not only just a great, you know, pool to work with, but giving them transparency about what their pool is doing, which I think is really important. So Scott here up here is going to show you guys how to get a good deal from them. And I just want to remind everybody, if you’ve got a big farm, I mean if you’re doing 10 2030 40 50 plus megawatts of power, talk to them, tell them you know, that that me and Scott sent you and you can negotiate a better deal than what we can give you directly from this podcast. He goes, Scott.

Yeah. So if you go to their website on the top right hand side, you can enter a go to sign up and you can enter the invitation code offered one eight and when you sign up for an account with Novablock, that will give you a permanent reduction in your pool fees down to 1.8%. Now they could do better if you have a lot of hash power, but definitely go there. Use the invitation code OFFORD18. Thank you Novablock for sponsoring our podcast.

Thanks Noah. Okay, now we’re back with Shannon. Shannon, it looks like your, your microphone was muted there for a second. Hopefully all problems have been resolved. We’ll see four year old problems never really get resolved. Right? So, yeah, keep, keep telling us about you, this, this stranded gas and the kind of headway that you’re making towards, you know, utilizing it instead of making a liability, you know, turn it into something that is useful.

Yeah. So that’s, that’s kind of the, the goal is, you know, I went from the crypto mining side trying to put together this farm and non becoming more of like a land man and trying to source places to get cheap natural gas or cheap power and put those together into larger projects. And so there’s kind of that two fold pieces that Hey re working on the strain of gas side from an oil producer who’s trying to get rid of it and that’s where the cheap gas prices were coming from. Where are we trying on the other side to monetize those Wells? Effectively. now that we’re dealing with the oil war, that oil producers side of it going into the gas production. Most gas producers like, yeah, I know them prices that cheap, but I’m not going to sell you a contract at that rate because I don’t make any money off of it.

So trying to get those deals put together once they get to the point that they want to make some money off of it. And even if it’s just a little tiny bit, you know, we have a way to monetize that. So throwing, you know, miners into a container or dropping that container on sites, setting up, you know, a handful of, you know, either gas turbines or [inaudible] reciprocating generators and a transformer and getting it going. It becomes a pretty mobile project so you could move it anywhere, which I don’t think a lot of power producers and gas producers are used to. They’re used to having to figure out how to get writeaways for gas lines, get guest line strung across the state to get through the new priests to power, use the power, get that into power lines. Run that distribution to where it needs to go.

It’s a much larger thing than this. This is a down and dirty, let’s just make electricity and plug it in type situation. So I was working with a producer, setting up a power plants or you know, he’s a friend, colleague and it was a massive one, you know, 750 megawatt natural gas and solar. But their cost to produce power is actually pretty high because once you get to that level of power production when you’re trying to send it to a state or it’s a pality to replace, say coal or something of that matter there’s a lot more that goes into the gas purchase and amount that’s coming in and a distribution on the other side that increases that power rate. So these sub 4 cent sub 3 cent power that everybody’s talking about are extremely rare and it typically requires you to own the power distribution or the sorry, or the power production in order to get into those realms. And so you get asked all those questions about trying to find that power bit is looking for the same thing.

Oh yeah. Every, everybody is scratching and clawing, trying to find, you know, that, that, you know, sub 3 cent, you know, even sub 2 cent.

So I yeah I was just wondering you know, for some of our listeners who are new to this, you know, some of them might be, might’ve heard of that sub 3 cents and might be searching for that themselves. And you know, crypto mining tools as, as a company. We have been working on something that kind of helps those people. Not only the, the new people, but also the existing people that have farms that maybe would want to relocate to a cheaper place. So what I wanted to do before we wrapped up here in the next you know, 10, 15 minutes was just talk about maybe some of those differences between the Olin managed hosting services and some of those co-location and the, the PPA or the power purchase agreement. So maybe you could just shut a little bit of light on that. Yeah.

Can you give us like an overview of all the different types and what they do and what they mean and yeah, so basically everybody has, I’ve talked to over the last, who knows how long, all has a little bit of a different idea on each of those. And the way we’ve kind of categorized it is that there’s essentially three types of services people are looking for. Number one is fully managed hosting. Essentially you send someone your minors, they are key. It’s turnkey, it’s ready, ready to go. You mail it to them, they’re going to plug them in, set them up in a mining to the pool. You want them to mind to get the, you know, everything full service. They’re going to do the maintenance on the minors and make sure they’re getting, you know, dusted and cleaned and not overheating. And if something goes down there, have a technician who’s going to be able to go to that minor figure out if it just needs to be started or if a board needs pulled.

And sent him refer repair. So it’s a fully managed service. Know good to go. And there’s lots of those out there. There’s lots of places that offer this type of service all over the world from us, Canada, Switzerland, Sweden, Russia, China, Japan. There’s options just about everywhere and there’s more that differentiates them than just their price. So a lot of them, you know, it’s kind of basic service. They’re going to, you’re going to send them their mind or they’re going to plug it in and get it running and then it’s kind of hands off. They walk by, have security, you know, they restarted if you call them and say it’s down so minimal all the way up to people who, you know, will host your GPU in any number of rigs. They’ll do custom overclocking for them, make sure they’re housed appropriately, cleaned appropriately, cooled appropriately, make sure they’re, you know, updating drivers, like they’re supposed to tweaking the cards to get the maximum amount out of it.

So obviously people that are taking that level of service, they charge a bit more than the people that are doing the minimum. So hosting is still a range. Managed hosting still has a lot of diversity to it. Okay. And then there’s co-location. So typically co-location is for a larger client, someone who has significantly larger amount of miners, whether that’s, you know, half a megawatt megawatt, two and a half megawatts or multiple containers. They want to put down a co co-location. And I want to take my minors and put them in your facility, but I want to run them myself. So instead of being managed by the person who’s hosting them, your managing yourself. So that means if you want maintenance done, you’re showing up and having, you know, you and your employees do the maintenance. You, you have a guy, you know George.

Exactly. So that’s, that’s co-location and that can be done. Once again, there’s a little bit of range on that. Like maybe you already have your own container and you’re looking for a place to co locate an entire container or multiple containers. Or maybe you have, you know, 800 GPU rigs or you know, 150 [inaudible] and you want a place to put them in. That’s maybe in your current state or nearby that has a better rate, but you still want to be associated with managing those them yourselves. Obviously co-location is a little bit cheaper than managed because you know, you’re removing those operational expenses. Then the last one is kind of the PPA land type options. So these are people who typically have a significant amount of infrastructure of either minors or capital in which they want to put together their whole in large project, most of the raw energy to tap out and utilize.

Typically those projects need to be 10 megawatts or bigger in order to get to the metrics that they’re looking for on power costs. And there’s a significant upfront cost with land development, permitting, power development, power generation. Maybe you’re building out substations or transformers and there’s a lot of structure and generators and you know, just, yeah, it’s not, yeah, that whole 3 cent power thing. It’s not, you can just show up and figure out how to plug in. It’s, Hey, someone’s generating excess power and it’s coming off at distribution voltage and you’ve got to have a substation stepping it down to four 80, and then you have to have a transformer stepping in down to 40. Then you have to be on land lease or land purchase permitting for the land. It’s a much larger concept. And typically involves obviously more than just me. You’re getting involved with gas, Noah guys, land guys. And is yodeler. Yes. so that’s kind of the power purchase option. Let’s see if ABC mouse will start working and there’s a fun, my daughter’s doing that right now. Does

The amount of math and reading and all sorts of things. Ethan, why don’t you just tell us that arrogant about our our hosting directory that we’re getting up and running. I’ll actually put a site here on the, on the screen. We pull it up, Scott, this is going to be

Very, very soon. It is very, very soon. So, you know, as Shannon was, was just discussing as you guys can see we have those three different power situations, you know, or, or hosting situations because power purchase agreement really is just all about seeking, you know, the raw power and having, you know, the huge capital expense upfront to tap into that. And it, it’s not, you know, a short term game. This is something that you would need to plan out for five, you know, plus years onwards. But you know, you have the ability to go in there and to say how many megawatts of power that you need. And also you can select some other options there. Go ahead and put in just 10. And if you click next, and again this is a preview, but you can see we actually do have already in our database some registered, you know, this is the, the power purchase.

So this is the raw power. And you can go through w like Scott said, there’s still just some, you know, T’s to cross and some I’s to dot. But we’re going to be launching this very, very soon. You can go through, you can do go ahead and show co-location as well. So you can decide, you know, whether you want to co-located to, you know, an existing data center or do you want to co locate your mobile container to an onsite power that’s already been established. And then we have the fully managed hosting and we went through a lot of strides here to make it very easy for the novice user. So let’s just say you’re getting new into this and you don’t know, you know how many Watts you’re minors that you just bought are using. You can go through our database, you can select, you can find the miners that you purchase and it will automatically start to calculate the Watts that you’re using.

Let’s say you’re a little bit more seasoned of a user and you’ve got some GPS you want to add to that. Obviously we don’t have GPS in our database. You can add a custom power value and it will also calculate that in. And this helps you understand when you click the next button, what you know, your total power that you’re requesting. So what you’re going to be able to use and it’ll give you an idea of what kind of price range you can get. And you can see in our database, we have many, many hosting facilities listed all around the world. It’s the first of its kind. It’s a one of a kind system. And w Scott and I have desperately felt like it’s been needed in the market for a long time because you know, as people are needing cheaper and cheaper power, the ability to just simply plug in at home or to, you know, create a tool shed on your backyard and mine like that, it’s, it’s not really viable anymore. So we hope to take all these little miners, these self minors and help them find a location that is a good fit for them to keep them profitable, to keep them going. Yeah, I’m all back on here. Yeah.

And Shannon, why don’t you just tell us a little bit about what you’ve been doing in the last couple of months in in helping us get this up and running?

Yeah. So basically I’ve been calling and reaching out to every, you know, hosting facility co facility PPA facility that’s advertising for cryptocurrency related products and trying to make those connections. And the biggest thing is it’s not like a normal website where you’re just going to go click on stuff and it’s going to send you to that other person’s website and maybe they’re good, maybe they’re bad. We’re actually trying to go through and verify every listing that’s put in there, have conversations with them, really understand what product they have available. So who has the really high end hosting that’s, you know, doing, tweaking every little thing for you and who is on the lower side of that, you know, what their rates are, what they’re willing to do for people that are looking for these products, where they’re located. And hoping that these people are set up in situations that they’re not going to disappear after you send their miners to him.

Obviously that’s been a problem in the past. So we want to make sure we’re not working with those people. Thankfully Scott has been, you know, has a great reputation within this space from doing all the minor reselling and all that. So it’s been awesome to work with and talk to all these providers and get them put together. So we work more like a brokerage than just a, you know, click here, get some information, type. Basically why don’t you click there and you’re looking for that information and you figure out where you want to be, what type of power you’re looking for. We’re going to make sure you’re kind of connected to the best option and make sure, obviously there’s more than one, and then make sure that we’re not just sending these hosting facilities, people that are just, you know, wasting their time. So, Hey, I want to do this, but I don’t have minors. I don’t have the capital. Maybe it’s something you want to do and you want to learn about it. Awesome. We’ll teach you. But it’s not we’re trying to make sure that it’s all real and not a whole bunch of scammy things going on as best we can. No guarantees but trying,

Yeah, I, I can definitely, you know confirm that, that we have gone through great lengths. You know, we have multiple conversations with these facilities before they can even be listed in our, in our system and, you know, we make sure that they’re as vetted as, as we can possibly vet them. Now, I mean, that’s not to say that given these hard times, you know, strange things might, might or might not happen. Even, you know, with people that have the best of intentions, but we have made all of our efforts to assure that, you know, if you decide to do business with, with a hosting facility that you find in our system that they are going to be, you know exactly what you want, you know, and, and deliver the service that you need in a reliable, trustworthy way.

Yup. So Ethan, when can we possibly expect to see this published on our live website?

I’m working right now with the developers to get it pushed to the live website. I’m hoping within the next 24 hours that will be done.

Awesome. That’s great. So Shannon yeah, we’re just gonna wrap it up here soon, but yeah. Anything else that you want to add?

Well, I would like to add how can people reach out to you Shannon? Cause this is kind of how we close every episode is how can people reach out to you and maybe say hi to Mikayla one more time. Yeah.

You know, right now I’m starting to get more active on telegram. That seemed me to be a good place to kind of network and go through that. I actually have no idea what my handle is on telegram.

It’s Squires. Squires. Awesome. Yeah, that’s quite Scott, can you write that down so people can see that.

Let me type it up. Here we go. Yeah. And then obviously it’s Shannon add crypto mining.tools. So either of those are probably going to be the best two methods of contact kind of to keep it simple and keeping those two locations. Awesome. Awesome.

Yeah. Well. And then maybe just tell us a little bit about your own project that you were going to get up and running. You, you were saying that you were working on that last year but it didn’t quite. Now you’re trying to rehash it.

Yeah, so basically after the funding kind of fell apart for a third megawatt. Basically it’s going to be a 10 megawatt mining facility and a you know, 10 megawatts of power production is kind of the stage one that we’re going for. And once that was going to be completed or once that fell apart we kind of went back to the drawing board as far as, okay, we can go down the same path, try to monetize tryna gas goals or, you know, what’s other options? So that’s when we started looking into gas producers and making deals, you know, at the source, either on the backside of the gas getting essentially raw gas, separating it ourselves and producing power or clean on the other side if they needed to get rid of it. And then the oil war started. So that change.

So currently we’re looking into a couple of other options. And we have three locations that we’ve found one in Colorado, a potential in Texas and a potential North Dakota that should meet our needs for getting the cost of power down for we want it to be. So we’re in the process of starting to negotiate that gas purchase. And the hard part right now is getting people to answer telephones because they’re either, you know, potentially unemployed or dealing with that mess or you know, just not working. So it’s been a bit of a struggle in the last few weeks to get the people on the phone. We need to and keep the VCs updated. And so that’s the other side of it is the venture capital side. So you, people that are potentially investing in this project and you know, it’s a multibillion dollar project, not big enough for a big st, you know, 500 million where you can go to like Goldman Sachs and ask for money.

But it’s enough that you know, most people aren’t going to hand it over easy. No, I’m sure that’s being done. So I’m trying to put that together in a good package for them. Originally we were looking at doing more of a, a type of a public offering, kind of an exempt public offering, but we’ve went back to the concept of just going with like one or two primary, my primary funders and partnering with them and having it as a joint partnership moving in. So at this point once we get those gas contracts secured hopefully the funding works out this time and we can start putting things together and putting it down. So handful of networks and the power production handful of network on the mining side. And then I get to put together a team to make it work like it’s supposed to. If we have excess power, then we’d be looking at joining that group as a holster. Primarily our project is self mining. Like we want to take full advantage of the risk and reward of Bitcoin in this project. But if there’s excess power above that 10 megawatts that we have to produce in order to get our rates down, then we’ll be looking at other people to come, you know, buy that from us to fill that in. Yeah. Yep.

So just to wrap it up and you know, in, in the last one minute of the podcast, what would you say to those people who have maybe one megawatt of mining equipment they want to get up and running, but they are convinced that they really just need to sense power?

Well if you want super crazy cheap power you need to make sure you have your wallet open and you’re ready to build a power plant or buy a substation or something from that aspect. And other than that, I would say right now looking at it for average hosting rates I think that cheapest possible options are in the high 4 cent range. And some of those may include some sort of profit share or some sort of upfront costs for expanding a facility or in some foreign country area or in Russia that they have some unique power options and not everybody has. And I haven’t been able to go out there and actually personally see these farms myself. So there’s that diff risk that goes along with that. And then all the way up to 13 cent for that. You know, as we mentioned, the SCO, someone who’s really good at overclocking GPU is running all your GPS in a actual data center.

And then on the co-location side, I think we have prices anywhere from [inaudible] based on size. If you can get up into the like five megawatt range in the mid fours, if you’re below that, you’re probably looking closer to 5 cents for co-location. All the way up to, I think the highest co-location is probably around 6 cents. And then there are PPA options out there and the 3.9 cent area. But that includes, you need to be buying transformers and helping with infrastructure costs up front, you know, more, more capital, more running your wallet up front to pay those fees. There’s definitely the pros and cons to each different thing that we talked about today. Well, great. Thanks for your time Shannon, and know we’ll let you get back to homeschooling. Right. I’m a miserable homeschool teacher. I tell ya, my iPad does a better job of homeschooling than I do. But yeah. Anyway, thanks for your time and we’ll, we’ll talk to you soon. Yeah, thanks a lot. Thank you. Bye. Bye. Bye.

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