PSA since some people seem confused by a recent @MTSlive clip about our levered compute strategy @CrucibleCap is an investment firm. we invest in companies improving energy, compute, and materials through hardware, software, and markets. separately, through a dedicated vehicle we started with our own capital, we finance and deploy compute using equity and debt, much like any neocloud. every deployment is underwritten on its own merits and backstopped by us personally. BELIEVE IN SOMETHING. we buy hardware, deploy it, monetize it, and optimize the operation. income and depreciation complement venture returns, and our lean structure generates operating margins substantially above most publicly reporting neoclouds. but the real advantage is information. operating compute from BOM → rack → offtake shows us bottlenecks across hardware, power, financing, operations, and markets. we invest in companies solving them, deploy their products as first investor + first customer, and use what we learn to sharpen our underwriting. these activities are complementary by design. we'll keep building and also...