Overview
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Secured Power -- 5 gigawatts secured, including new sites in Europe and APAC, forming one of the largest AI infrastructure portfolios globally.
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2027 Capacity Ramp -- Plans to scale to 1.21 gigawatts, including 730 megawatts under construction across British Columbia and Texas; Sweetwater One energized a high-voltage substation and began construction for an initial 200 megawatt IT load.
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Air-Cooled AI Cloud Deployments -- Deploying latest-generation air-cooled Blackwell GPUs, which have slightly higher operating margins than liquid-cooled, with retrofits benefiting from lower relative CapEx and rapid deployment timelines.
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Impairments from bitcoin mining transition -- Anthony Lewis stated, "we expect to incur additional noncash impairments associated with decommissioning mining hardware"
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Net loss this quarter -- The quarter's net loss was materially affected by impairments tied to the ongoing shift from Bitcoin mining to AI infrastructure, indicating further near-term financial impact as legacy assets are retired.
Financials
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For informational purposes only — not investment advice.