Moats in our neocloud theme:
$APLD Ellendale, Macquarie financed
$BTDR Bhutan power, SEALMINER ASIC
$CIFR AWS anchor tenant validation
$CLSK low cost power per MW
$CORZ multi-billion hosting backlog
$CRWV GPU operator, OpenAI
$DGXX 400MW, Blackwell ready pods
$HIVE BUZZ HPC GPU subsidiary
$HUT vertically integrated power
$IREN cleanest HPC revenue ramp
$KEEL $533M liquidity, three campuses
$MARA largest scale, biggest footprint
$NBIS lowest cost per MW operator
$RIOT Texas grid scale power assets
$SLNH behind the meter, 4.3 GW
$WULF Core42 deal, nuclear adjacent
$WYFI $865M Nscale anchor contract
The important stuff?
Secured power capacity, signed anchor tenant contracts, cost per MW competitiveness, and execution speed on conversion.
I think #
SLNH# offers deep value. NFA.
Will keep updating...