Financial PerformanceRevenue and adjusted EBITDA came in below the estimates.
Market ReactionThe announcement turned out to be a 'sell the news' event, as shares fell by nearly 18% after investors took profits following the stock's surge.
Operational RisksRisks to achievement of our price target include BTC price volatility, faster than expected increase in network hash rate, construction delays at the Barber Lake site, and potential for shareholder dilution.