Market Update
Over the last week, both the AI infrastructure and Bitcoin mining sectors posted significant loss. Leopold Aschenbrenner’s investment fund reflected this trend. Here are his top 6 best performers among all holdings:
Major Company Updates
- CleanSpark secures twenty-year lease with high-investment-grade global technology company for data center in Sandersville, Georgia (link)
- Soluna appoints Microsoft hyperscale executive Ryan Carver to lead Soluna's AI (link)
- Galaxy secures landmark naming rights agreement with Texas Tech (link)
- GE Vernova to deliver SF₆-free grid hubs for Stromnetz Berlin (link)
- Keel Infrastructure advances Sherbrooke, Québec data center project (link)
Last week, CleanSpark announced its first colocation deal, a triple-net (NNN) lease with an investment-grade technology company for 175 MW that represents $6.6 billion in contracted revenue. As we predicted in our annual report earlier this year (“More Hyperscaler Deals, Less Narrative Premium,” Page 89), the stock did not receive the premium reaction many had expected.
Over the past 6 months, the market has made its preference clear: investors are increasingly making economic judgments rather than rewarding narrative momentum. In response, we have launched a colocation valuation simulator. The tool applies a REIT-style approach to help investors evaluate colocation deals beyond headline figures, focusing on the value created through data center development and how it translates into shareholder values.
As always, feel free to drop us a message for any suggestions, feedback, or just to say hi.
Thanks for being part of our journey - see you next week!
Cindy & the Ziven Team 💜