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Analyst
Joe Flynn
Period: Reporting periods mapped to calendar 2024 Q4 – 2025 Q1 (2 quarters).
- Questions
- 7on tracked calls
- Challenge rate
- 0%none of 7 questionsLimited sample
- Companies
- 2questioned at least once
- Reporting periods
- 2with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 7 of 7 questions from 2 companies
RIOTRiot Platforms, Inc.4 questions · 2 reporting periods · 0 of 4 challenging
Calendar 2025 Q1
do you ultimately see an opportunity for net run that gas turbines as a source of redundancy in addition to your grid connects
Show response
Management favored diesel backup for Corsicana, noting E4A's generation expertise could support gas alternatives if economics warranted.
specifically was adding the fire lines customer directed, and ultimately kind of what that process entails
Show response
Management confirmed fiber additions were proactive (not tenant-directed), with approximately 12-month completion using third-party contractors.
Calendar 2024 Q4
any operational metrics you can share such as, you know, ultimately what POE you'd be able to deliver at and your build cost per megawatt
Show response
Management declined to provide specific PUE or cost-per-megawatt figures, citing rapidly changing technology and the need for more advanced design discussions.
have you been approached or even gotten offers for an outright asset sale
Show response
Management confirmed openness to the full spectrum of deal structures from land lease to outright asset sale, with Evercore and Northland driving a competitive process.
IRENIREN Limited3 questions · 1 reporting period · 0 of 3 challenging
Calendar 2024 Q4
Do you think there's opportunities to finance this at the project level?
Show response
Dan confirmed project-level debt financing is a real avenue once a long-term (5–15 year) colocation customer contract is signed, alongside the corporate ATM and other sources.
Would you characterize that more as a spec build? Or do you have any like maybe soft commitments
Show response
Management said it is not purely speculative, demand for liquid-cooled capacity is coalescing and multiple customer conversations are active, but cautioned no signed contract is imminent.
What would you guys estimate the remaining CapEx to complete the 1.4 gigawatt substation by April?
Show response
Dan said the substation cost is undisclosed but in the tens of millions and covered by existing capital and operating cash flow, and expressed a strong bias against JVs/partnerships to retain control.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| RIOT Riot Platforms, Inc. | 4 | 0%none of 4 questions |
| IREN IREN Limited | 3 | 0%none of 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 5 | 0%none of 5 questions | 2 |
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
- 2024 Q45 questions · challenge rate 0% (none of 5 questions) · 2 companies
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Capex Investment3
- Capital Allocation2
- Demand1
- Cloud & AI1