Financing ChallengesThere is a 'chicken and egg' problem occurring with SMID cap miners and HPC, where customers want financing before signing a lease, but financiers want a customer in place first.
Investor SentimentDespite strong financial results and potential opportunities, the stock tumbled 17.4% due to investor disappointment over the lack of a concrete AI deal announcement.
Price Target AdjustmentThe price target is modestly lowered due to lower '25 adjusted EBITDA on lower bitcoin price estimates.