Wes Cummins

And if you remember, AI wasn't the workloads then at all.

It was a niche market.

And so it was a much smaller build, but we thought it would be a very nice addition onto our Bitcoin data centers.

So we started building that in 22.

By the end of 22, we had GPUs running out of our facility in Jamestown.

And at the time, we were just proving out that the data center capacity worked.

And our customers were mostly universities, so people who were paying very, very little for the GPUs.

But again, we weren't trying to sell the GPU capacity.

We're just trying to show that the data center itself worked.

And then ChatGPT is introduced in December of 22.

No big change for us.

But when the NVIDIA H100 was introduced in March of 23, we were out marketing that data center capacity and what we had built in Jamestown actually was a good fit for the H100.

And so I was introduced to some AI labs and frontier models that had demand for these GPUs.

they didn't want to deal with data center capacity.

They just wanted GPU capacity.

They just wanted to use the GPU.

So we actually ended up purchasing GPUs, deploying them.

We had one of the largest clusters of H100s running in the first week of July of 2023.

And through that process, as we started speaking more and more to these companies, I started to see the demand that was there.

We went into the market