Infrastructure And Cost AdvantageManagement's large energized capacity and substantial Texas power footprint, with lower electricity costs than many peers, positions the company to attract AI/HPC tenants through competitive pricing and scale.
Product Efficiency And Mining CompetitivenessCompany disclosures that early SEAL04 chip samples demonstrated strong power efficiency and that next-generation mining rigs are moving toward mass production in early 2026 support potential improvements in mining economics and product competitiveness.
Strategic Shift To AI/HPCAnalyst highlights the shift to prioritize collocation for AI and high-performance computing and direct development of AI data centers, which could enable higher-margin leases and faster monetization of available power capacity.