Bitcoin Well cuts expenses 28% in last financials! Total operational expenses were $6.7 million for the nine months ended September 30, 2023, compared to $9.4 million in 2022. This is an improvement of 28%. The decrease in operating expenses primarily related to decreased headcount, stricter spending practices and decreases to management salaries. The decrease in operating expenses was partially offset by increased debt service costs which will continue for the remainder of the year. Our operating expenses for the nine months ended September 30, 2023 also included $1.1 million related to non-cash capital asset and intangible asset depreciation and interest accretion (2022 included a $1.8 million expense related to the same non-cash expenses).