SHAYDAN

#HookEm #TakeNote #TusksUp #FTTB

[SHAYDAN @Moon__Walk_]

@Bathan_Nurgess @ArtTakesNote Is it? Played way less minutes than everyone else on this list and still ended up top 5 in assist per game.

[SHAYDAN @Moon__Walk_]

@MarkW_E01 That’s false. Even if they drop a spot, they have a 85% of keeping it. If they stay under 22 wins, they will be bottom 5 in the league and have a 99% chance of keeping it.

[SHAYDAN @Moon__Walk_]

@jayhastings79 @SkyedOKC @NBA Yeah, I’m aware. And the way the lottery works, you have to be a bottom 4 team to guarantee a top 8 pick.

[SHAYDAN @Moon__Walk_]

@jayhastings79 @SkyedOKC @NBA Utah’s pick is top-8 protected — either they tank to keep it, or they give it up to OKC… who just happens to be the best team in the league right now.

[SHAYDAN @Moon__Walk_]

@FinancialErnie @CleanSpark_Inc @smatthewschultz @GaryVec @taylorbmonnig @harry_sudock @Rex_Finance @smatthewschultz can correct me if I’m wrong but I’m like 90% sure that a portion of the site was already serving the ATL airport when $CLSK acquired the site.

[SHAYDAN @Moon__Walk_]

@vasilist “Every single peer… forced to pay 2-4%+ coupons like they’re desperate” meanwhile this was literally a couple weeks ago

https://t.co/S3ZJ7P4Jxg

$CLSK

[CleanSpark Inc. @CleanSpark_Inc]

https://t.co/kj4Sremgb0

[SHAYDAN @Moon__Walk_]

PIF investment process.

### 1. Opportunity Identification and Outreach
- How it starts:
PIF scouts targets through its global network, including investment arms like Humain (for AI) or Sanabil (for tech). This often begins with mutual interest—e.g., a US company pitches via conferences *cough* or direct intros. In CLSK's case, Thomas's hire in October 2025 acts as an internal bridge, potentially fast-tracking proposals for renewable-powered AI facilities.
- PIF's role:
They prioritize "strategic" fits, such as AI infrastructure that supports Saudi's domestic hubs (e.g., NEOM). Recent 2025 announcements emphasize "exponential" US tech ties, with PIF's US holdings hitting $23.8 billion by Q2.
- Timeline:
1-3 months. Initial non-binding letters of intent (LOIs) outline interest.

### 2. Due Diligence and Valuation
- Deep dive:
PIF deploys teams (internal + external advisors like McKinsey or Deloitte) to assess financials, tech IP, market potential, and ESG factors (e.g., CLSK's 95% renewable energy aligns with PIF's green mandates). For AI/tech, they evaluate data security and scalability—critical given US export controls.
- US company input:
Provides audited financials, tech demos, and projections. In high-stakes deals, third-party audits verify claims.
- PIF specifics:
Emphasis on "value creation" metrics, like job growth or tech transfer. PIF's 2025 strategy includes exiting mature tech for chips/AI, as seen in portfolio shifts.
- Timeline:
2-6 months. Ends with a term sheet proposing stake size (e.g., 10-30% equity) and terms like board seats.

### 3. Negotiation and Structuring
- Key terms:
Deals often include milestones (e.g., CLSK hitting 1 GW AI capacity for funding tranches), governance rights, and exit options (e.g., IPO buyback). PIF favors joint ventures for shared risk, like co-building data centers.
- Examples:
PIF's $1.5 billion in Lucid Motors (EVs) or stakes in Uber/Tesla show blended equity + project funding. In AI, the Google Cloud deal structures as a $10 billion build-operate-transfer model.
- Incentives:
Tied to the $1T deal, investments may qualify for US tax credits (e.g., CHIPS Act for semis) or Saudi subsidies.
- Timeline:
1-3 months. Binding agreements signed.

[SHAYDAN @Moon__Walk_]

@FinancialErnie @smatthewschultz @GaryVec @Qualcomm https://t.co/gqZc7OSbgz

[SHAYDAN @Moon__Walk_]

$CLSK

@FinancialErnie @theBTCMiningGuy

Connecting the dots…

1. Management starts building relationships with new U.S. admin including crypto and AI czar @DavidSacks

[SHAYDAN @Moon__Walk_]

if you’ve been in $CLSK long enough, $1B at 0% interest is such a luxury… also the $400m buyback + the premium on the notes means as long as @smatthewschultz and the team execute, this should be some of the most accretive dilution yet. $500m in dilution could easily add $3B in EV.

[Earnest Hamilton @FinancialErnie]

$CLSK
Another view/angle on this news 🗞️
At a cost of ~$10M/MW, @CleanSpark_Inc just secured funding for 80MW of HPC at a 0% interest rate 😎

The ROI would be less than the 7 year maturity assuming customer and equipment is secured in 2026. 💪💰

[SHAYDAN @Moon__Walk_]

** $IREN site correction **

[SHAYDAN @Moon__Walk_]

@mikealfred @FinancialErnie @McnallieM @smatthewschultz My bad. I believe this would be correct.

[SHAYDAN @Moon__Walk_]

$CIFR & $IREN deals side by side highlight the difference in business models. $IREN hosting is getting 10x more $/mw..

@FinancialErnie @mikealfred @McnallieM

Has there been any hints on if $CLSK plans to host or lease @smatthewschultz ?

[SHAYDAN @Moon__Walk_]

@mikealfred @FinancialErnie @McnallieM @smatthewschultz My bad. I believe this would be correct.

[SHAYDAN @Moon__Walk_]

@LeaderInvests @FinancialErnie @mikealfred @McnallieM @smatthewschultz Here would be the two scenarios applied to the new $CLSK site in Texas. If @GaryVec can find creative ways to finance the GPUs, it seems as if the numbers are clear…

[SHAYDAN @Moon__Walk_]

@LeaderInvests @FinancialErnie @mikealfred @McnallieM @smatthewschultz Either way, you own the sites—the question is whether they want to own the GPUs. That route means more capex and expertise, and it’s like bitcoin mining: GPUs keep leapfrogging, so staying efficient is expensive. That said, the $IREN deal is tempting.

[SHAYDAN @Moon__Walk_]

@AJ3Jazz @SleeperJazz It actually does matter where you end up when the pick is only top 8 protected and the only way it’s garunteed to be top 8 is if you are a bottom 4 team… 7,8,9 range is absolute worst case scenario for the franchise

[SHAYDAN @Moon__Walk_]

5. $CLSK partners with @submertech who is also directly in the UAE investment mix

https://t.co/8NeLmqrOsd

[SHAYDAN @Moon__Walk_]

$CLSK

@FinancialErnie @theBTCMiningGuy

Connecting the dots…

1. Management starts building relationships with new U.S. admin including crypto and AI czar @DavidSacks

[S Matthew Schultz @smatthewschultz]

Absolutely staggering just how far the world of digital assets has grown. One prior election cycle ago, congress was debating a “war on crypto”. Fast forward to this year, @ZachKBradford and myself, along with a few select members of the #Bitcoin mining sector get a meaningful meeting with @realDonaldTrump to debate, discuss and plan policy support for our industry. This all happened through the tireless efforts of @_amanda_fab and @DavidFBailey and @TracyHoyosLopez .

Fast forward more to last night. We were invited to attend the first annual #CryptoBall and have actual one on one conversations with @SpeakerJohnson @SenLummis @howardlutnick @DonaldJTrumpJr @DavidSacks and many more.

We had meaningful discussions about the roles our executives have played, and will continue to develop with @saylor and @fgthiel, @theRealSalKhan and other thought leaders in our industry.

Above all. I’m humbled and grateful to have the experience to work in an incredible industry with some amazing people.

We are so early.

[SHAYDAN @Moon__Walk_]

4. @smatthewschultz poaches talent from @humain

[S Matthew Schultz @smatthewschultz]

Shares of CleanSpark surged after the Bitcoin miner announced that it was expanding into date-center infrastructure and the hiring of Jeffrey Thomas from Saudi Arabian AI firm Humain https://t.co/WzcWfFbc3Q