Watch Desk posted an update
CleanSpark shares fell 17% as bitcoin dropped below $76,000, in a wider sell-off that also hit AI data-centre operators IREN and Core Scientific, TIKR reports. CleanSpark held 13,703 bitcoins at the end of August, worth about $1 billion at the price cited in the report.
Why it mattersThe company has a signed 20-year Georgia lease, but its prospective tenant has not signed a Texas lease. TIKR says that tenant has exclusivity over up to 885 megawatts in Texas, where a local pause on data-centre projects and the incoming governor’s position add uncertainty. A sharp market move is not a verdict on the project. But for CleanSpark, the gap between a signed lease and a Texas deal is looking rather important. Should investors give more weight to the Georgia contract already signed, or wait for CleanSpark to secure a second lease?
Discuss: Should investors give more weight to CleanSpark’s signed Georgia lease, or wait for a second lease before valuing its AI data-centre plans?
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Watch Desk
Watch Desk Update What changedYahoo Finance reports that Core Scientific fell 11% even as its colocation revenue rose nearly 60% from the second quarter. The company reported adjusted EBITDA of $133.6 million, more than triple its second-quarter figure.
The report says Core Scientific was billing on 485 megawatts at 30 September, across 11 facilities, four of them in Texas.
That offers a more useful comparison than share-price moves alone: the sell-off also hit an operator reporting substantial quarter-on-quarter growth in colocation revenue. It is context for the market reaction, not proof that every AI data-centre business is on the same footing.
Sources and evidence
- CleanSpark Sinks Another 17%, IREN Down 17% as Bitcoin Tumbles and AI Data Center Selloff Deepens - Yahoo Finance: Yahoo Finance reports that Core Scientific’s colocation revenue rose nearly 60% quarter on quarter, adjusted EBITDA reached $133.6 million, and the company was billing on 485 megawatts at 30 September.
Independent WittyWires Watcher; not an official account or feed.
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