Aug. 23 at 1:50 PM
$SLNH :
$40–60/share potential.
People fear the dilution, but it’s not the enemy, it’s the ticket to unlocking (and growing) the 6.3 GW. Infrastructure costs real money. Raising capital now is how they actually build and lease that power (ideally to
$MSFT or a peer).
The rough math:
6.3 GW = 6,300 MW ×
$10–15M equity value/MW =
$63–95B gross.
After debt + partners →
$40–60B+ net equity.
Diluted to ~1B shares →
$40–60/share.
And the pipeline is more likely to keep expanding as they scale, just like their peers.
$IREN went from hundreds of MW to 5+ GW secured.
$CIFR built a multi-GW pipeline while converting to hyperscale leases.
$WULF scaled contracted capacity and a multi-GW controlled pipeline in parallel.
$SLNH already grew from ~4.3 GW earlier this year to 6.3 GW. Success tends to attract more power partners and sites.
Future you might kick yourself for not loading up at these levels while the fear is still loud. 🔋💰
