🚨🚨🚨🚨🚨 $CIFR has extended Barber Lake from a 10-year lease to 20 years. 𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝗲𝗱 𝗿𝗲𝘃𝗲𝗻𝘂𝗲 𝗴𝗼𝗲𝘀 𝗳𝗿𝗼𝗺 $3.8𝗕 𝘁𝗼 𝗼𝘃𝗲𝗿 $9𝗕. 1. ~$5.2B added by a leading AI lab 2. Binding 10-year commitment that starts after the Fluidstack lease ends 3. Separate lease, economics substantially consistent with the current one The original Fluidstack deal was signed one year ago today. The second decade was two five-year options then. It is now contracted, with a second tenant lined up behind the first. Tyler Page, CEO: "Barber Lake was designed as a long-lived, mission-critical asset." The delivery schedule was revised with the amendment. 1. Data halls deliver in phases, Q4 2026 through Q1 2027 2. Rent starts hall by hall, first rent in Q4 2026 3. $CIFR says it is on track Change orders pushed costs above the original budget. 1. $CIFR covers the first $359.3M 2. Above that, the tenant repays 50% over 20 years as rent, at a contracted return 3. The other 50% stays with $CIFR