Research, not a recommendation.

Working tension

Every dollar of revenue is still bitcoin, and the mining is being switched off

Working tension

$36 billion of contracted revenue, one unnamed tenant behind half of it, and a $249 million year

Working tension

4.8 gigawatts of potential capacity, no signed tenant, and a bitcoin treasury now pledged against the build

Working tension

Two operating power plants at the fence line, and no signed tenant behind them

Working tension

A nineteen billion dollar lease book signed against sixty megawatts that actually run

Working tension

A landlord with roughly 129 energized megawatts, no anchor tenant, and a judgment it agreed to

Working tension

A $4.7 billion lease signed the day after the auditor changed, and a gross-loss quarter six days later

Working tension

A $6.6 billion lease that pays nothing until late 2027, and an equity base that halved in the six months before it was signed

Working tension

$1.1 billion contracted, $1.08 million earned, and the legacy business has all but stopped

Working tension

192 megawatts earning revenue, and 6.3 gigawatts earning the valuation

Working tension

A $923.7 million backlog resting on one site whose billing start remains unconfirmed

Working tension

Licenses a competitor cannot buy, and $0.8 million a quarter to show for them

Working tension

An enterprise value of $7.5 billion resting on a lease whose first rent is due in 2028

Working tension

A $67 million enterprise value on 104 energized megawatts and no signed tenant

Working tension

A 53 megawatt platform whose financing capacity rises and falls with the share price it is meant to support

Working tension

A $3.5 billion note issue, 133 delivered megawatts, and a third consecutive quarterly loss

Working tension

Twenty-six billion dollars of contracted rent, reported through the price of bitcoin

Working tension

A $4 billion revenue target, $710 million of booked backlog, and $11.9 billion already committed