$RIOT signs 286MW, 20-year compute deal with $AMD worth $9B, option to upsize to $16B >Implies $2.4M/MW annual rent >80-90% NOI margin >Assuming $11M/MW capex, deal worth $15/share (15x NOI) >Discloses exclusive LOI at Corsicana; @ similar terms could be worth ~ $50/share

$RIOT signs 286MW, 20-year compute deal with $AMD worth $9B, option to upsize to $16B >Implies $2.4M/MW annual rent >80-90% NOI margin >Assuming $11M/MW capex, deal worth $15/share (15x NOI) >Discloses exclusive LOI at Corsicana; @ similar terms could be worth ~ $50/share

Source:https://x.com/matthew_sigel/status/2086915867367919722