Welcome to today's webcast reviewing HIVE Digital Technologies Financial Results for the First Quarter ended June 30, 2023. On Slide #2, I would like to briefly note disclosures. Except for statements of historical fact, this presentation contains forward-looking information within the meaning of the applicable Canadian and U.S. securities regulations. These forward-looking statements are based on expectations, estimates and assumptions as of the date of this presentation. On the next slide, I'm pleased to introduce today's presenters: Frank Holmes, Executive Chairman; Aydin Kilic, President and CEO; and Darcy Daubaras, Chief Financial Officer. I would now like to hand the presentation over to Mr. Frank Holmes for a macro recap of the quarter. Frank?

Thank you, Holly. And thank you, all of our loyal shareholders. I hope you find this informative timely and a little bit entertaining like this DNA of volatility, which I really like to always use as a case study that every asset class has it's own DNA of volatility, and what I thought was really surprising was looking at HIVE over 10 days at 26%. And over a month rolling 20 days, it pushes 50% volatility, and I find that just incredible. But we've become a proxy for so many gold investors at the beginning, and then along comes crypto investors, especially those who are interested in the adoption but they're reluctant after blowups like Celsius and FTX, HIVE has become that proxy. So please, when you look to invest in HIVE recognize that the DNA of volatility is 6x that of goal of the S&P 500 and substantially over a 10-day period. So the idea by the dip is wisely thought through here. Now what's also interesting to us is that it appears a quant fund, maybe a Citadel or someone else, that the crypto stocks trade as a basket by the minute. I do not believe that retail people jump in all collectively like this. But the correlations, as you can see, are very, very high. HIVE, it's 0.86, to Riot is 0.96 to Bitfarms to Hut 8 is 0.94. And I just think it to Bitcoin, as you can see, HIVE has this very strong correlation. And the next 1 is to show you that we do offer like gold stocks, high-quality gold stocks due to the price of gold that they give you 2x to 3x the leverage on the upside, but they also give it to you on the chin on the downside on corrections.…

Thank you, Frank. As usual, around this time of the presentation, I will be taking you through a snapshot of the part year looking at the most recently completed quarter and some indicators. Next slide, please. First of all, I'd like to remind our listeners that our earnings are comprised of our operational earnings plus our investment earnings, which includes realized and unrealized earnings a lot of which include noncash charges. Mark-to-market and accounting is an accounting practice that involves -- actually, we can take it to the next slide. There we go. Mark-to-market is an accounting practice that involves adjusting the value of an asset to reflect it's value as determined by current market conditions. Market value is determined based on what a company would get for the asset if it was sold at that point in time. Mark-to-market losses are paper losses generated through an accounting entry rather than the actual sale of the security. Swings in digital assets impact paper profits and losses each quarter. So our Bitcoin digital assets do generate unrealized gains and losses each quarter depending on the price of Bitcoin compared to the prior reported period. And it's important that investors understand the differences in operating earnings or losses in addition to mark-to-market paper gains and losses each quarter as it can swing the results drastically. Noncash charge is a write-down or accounting expense that does not involve a cash payment. Depreciation, amortization, depletion, stock-based compensation and asset impairments are common noncash charges that reduce earnings but not cash flows. Next slide, please. During this most recently completed quarter of June 30, 2023, we recorded $23.6 million of revenue and $5.3 million in adjusted EBITDA. This was driven by production of 834 Bitcoin equivalent mined at an average cost of USD 18,687 per…

Executive update on our business. Let's jump into it. So it was a great quarter in terms of Bitcoin mining profit margins. We saw an uptick this quarter. We had 34%. You could see that difficulty actually increased. If you average the difficulty each quarter increase 24% quarter-over-quarter but we managed to keep our cost to produce a bitcoin quite consistent, only a 4% increase on our cost to produce a bitcoin, which, of course, we saw a lot of strength in the price of Bitcoin as it rallied to 28,000. And in addition to that, although difficulty increased 24%, we produced actually 5% more coins. So we outpaced the growth of the network difficulty by expanding as we march towards our year-end target of 6x a Hash and we're currently sitting at 3.7, which I'll talk about more shortly. Next slide. So July 2023, we just issued a press release for this, and we produced 263 bitcoin, an average Hash rate during the month of 3.46x a Hash, but we've been steadily increasing plugging in machines. We ended the month at 3.64x a Hash and did an average of 8.5 Bitcoin a day with a very, very strong 75.9 Bitcoin per Exahash. Again, consistently ranks amongst the top crypto miners when it comes to Bitcoin per Exahash, again, a credit to our technical team, resilience, high fidelity software running 24/7 in 7 time zones. We always make sure that our facilities are run top notch. And I'm very proud of my team for continuing to have great performance. Let's jump to the next slide. So ASIC acquisitions. Now to date, we have actually purchased over 11,000 ASICs just in 2023 alone. This does not include the purchases made in November and December of last year, which, by the way,…