Sep. 22 at 2:46 PM
$SOAR Not to be pessimistic but at this point in time, think about the progression needed for possible positive return - you need:
154 MW → GPUs → Customers → Revenue → EBITDA → Financing → 480 MW
The power itself isn't the business. The business needs to monetize that power. If they successfully turn the Ohio site into a significant AI compute platform, the
$500M merger valuation could potentially prove conservative. If they can't secure financing/customers, the
$500M valuation could prove extremely difficult to justify.
As of right now I see this as extremely risky as capex expenditures are and will be enormous and the money isn't there for it (yet) and if it comes from equity issuance (dilution) entry point today could become a big mistake for investors.
