$WULF

$WULF turns higher +4% pre Despite no news/slight miss on press release, couple slightly optimistic anecdotes from call moving stock up >Q1 HPC gross margins were 50% vs LT guidance of 85% for HPC, but broke down several one-timers that get you back to 85%$2.1M of tenant fit our rev and costs during 1Q >$3.5M of pre-rev operating costs at WULF compute >$2.1M of dev costs across 1.75GW portfolio of uncontracted dev site >Adjusting yields 85% segment profit margin Expects the Kentucky customer to be signed in 2Q (480MW) to be "investment grade super high quality"; hinted at expansion beyond the initial site. Sounds like it was very competitive process and should expect 'favorable pricing terms' $WULF