If you're going to announce a new $1 billion ATM, it’s only reasonable to provide clarity by confirming that you have a customer and are funding the capex yourselves. Simply stating “ongoing discussions with third parties” is not an adequate or reassuring response.... $WULF told their shareholders about 4 months in advance that a deal was coming, even though they didn't reveal the official customer until a later date.
Just last month, the focus was on “investor distributions and dividends,” and now it’s shifted to proposing a $1 billion ATM instead. This inconsistency raises concerns. Don’t get too cute with the direct-to-chip cooling "In all facilities" unless a customer is firmly secured.
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