When Google spends $4.75B to acquire a co-location developer, it's not a bet. It's a verdict. Co-location isn't a workaround. It's the architecture. The developers who control power at the source (not those waiting on grid capacity that doesn't exist yet) are the ones positioned to meet AI infrastructure demand at scale. Soluna has been building behind-the-meter at renewable generation sites since before this was the obvious play. The market is arriving at a conclusion we've been building toward for years. $SLNH #RenewableComputing

$MARA Nothing changed - just your head making you fear

$KEEL Main Themes & Key Points Ben Gagnon Made: 1. The $ 400M Convertible Notes Raise (Opportunistic & Strategic) • They raised capital at one of the best times in the last 18 months due to strong market demand and stock performance. • Terms are excellent: low 1.25% coupon (very cheap capital), attractive conversion price, and efficient capped call structure to minimize dilution. • Existing liquidity ($533M pre-raise) already fully funded the base plan: permitting, lease execution, Moses Lake construction start, and G&A runway into 2028. • The new money is extra firepower for acceleration — especially securing and advancing expansion capacity (e.g., beyond the current 2.2 GW pipeline, like at Scrubgrass and additional Panther Creek potential). The market isn’t yet giving them credit for this upside. 2. Balance Sheet Strength • Strengthens their position significantly — now heading toward a ~$1B balance sheet. • Reduces BTC exposure in the treasury (now <15%). • Sends a strong message to potential hyperscaler clients: they are well-capitalized, low-risk partners who can move fast. 3. Update on the 3 Leases (2026 Priority) • Guidance remains unchanged: Sign one lease at each of Panther Creek, Sharon, and Moses Lake by year-end. • High confidence in execution. • Active discussions ongoing; they are advancing engineering/architecture to match customer needs. • Each signed lease is expected to be a major “valuation-reshaping event.” 4. Other Highlights • They want to be developers and owners of the sites, not operators (will outsource operations). • Focused on high-value, constrained power markets in North America. • Discussed co-lo capex costs, AI tokenization trends, and long-term vision as a pure-play HPC/AI energy infrastructure company Overall Tone Ben was confident, transparent, and bullish on the setup. He emphasized that the raise was not out of necessity but to accelerate growth and secure more upside for shareholders. The company is in execution mode for 2026 (leases) with delivery/revenue targeted for 2027. Bottom line from the interview: The convertible raise de-risks and accelerates the story without changing the core lease timeline. It reinforces KEEL’s strong positioning in the AI power bottleneck.

$MARA is trading at a $4.8B market cap. Here is the math the market refuses to do: → 35,303 BTC in treasury = ~$2.2B (even with Bitcoin down 50% from ATH). → That leaves ~$2.6B for the ENTIRE operating company. → 72.2 EH/s of hash rate 1.3 GW of energized power infrastructure roughly covers that on its own. Which means the market is pricing at **ZERO**: ⚡ Long Ridge - 505 MW vertically integrated power campus, ~$144M annualized EBITDA, 76% contracted, ~$15/MWh operating cost, path to 1 GW. Closing hurdle cleared 48 hours ago. 🇫🇷 Exaion - 64% of EDF's nuclear-powered AI compute arm. Sovereign French energy access. Unreplicable at any price. 🏗️ Starwood JV - hyperscale campus development where Starwood carries the capex, not MARA's balance sheet. 🤝 And management, on the record: "advanced conversations with multiple prospective tenants across multiple sites." Inbound interest from investment-grade hyperscalers. ~90% of owned capacity in active tenant discussions. 2.2 GW at closing. In PJM. In 2026. While hyperscalers fight over electrons. Before the bears scream "debt", converts were cut 30% in ONE quarter. $1B retired at 91 cents on the dollar. One signed lease changes the entire equation. IREN traded like this once. Ask the shorts how that ended.

@wartsilacorp to deliver flexible generation to maintain grid reliability in a power system with rapidly growing renewable penetration in Texas. #energytransition #USA #gridstability #gaspower #renewables #highquality #solutions #provider greenbuildingafrica.co.za/wa…

Ernexa Therapeutics Successfully Completes Key Manufacturing and IND Preparation Milestones for ERNA-101 Toward First-in-Human Clinical Development bit.ly/4dI24HS $ERNA #CancerResearch #DeliveringHope #EndOvarianCancer #NoWomanLeftBehind