$19.48
428.6% vs S&P 12m
Business overview
Bitcoin miner with disclosed AI HPC site planning; capacity tooling for AI tenant conversion.
Optional AI HPC pivot in a tight power market; thesis is speculative pending anchor tenant.
Products
- Bitcoin mining
- AI HPC (planned)
Customers (2)
- Bitcoin
- Potential AI tenants
Competitors (2)
- CORZ
- APLD
Composite score
Higher = stronger overall research case
Fundamental30
Technical81
Valuation45
AI relevance35
Risk-adjusted (higher = safer)25
Segment-relative fundamental percentile: 9
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: 15.0%6M RS: 24.4%12M RS: 428.6%Vol30d: 99%DD52w: -21.2%
Financial summary
Curated, illustrative
Revenue
$209.82M
Growth (YoY)
-28.8%
Gross margin
12.4%
Operating margin
-249.4%
FCF
$-2.95B
Capex
$2.88B
Net cash / (debt)
$-4.03B
ROIC
-0.2%
Customer conc.
Medium
Valuation
Market cap
$7.97B
Enterprise value
$12.00B
P/E (TTM)
40.0x
Forward P/E
29.1x
EV / Sales
57.2x
EV / EBITDA
72.4x
P / FCF
—
PEG
—
Rule of 40
—
Risks
Severity 1 (low) to 5 (severe)
- 5AI tenant timing
Score components
What drove the composite
Growth21
Profitability20
Cash generation20
Balance sheet20
Moat / AI relevance48
Capital intensity (higher = lighter)20
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)79
Relative strength100
Realized vol (higher = lower vol)21
Segment peers
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