Supporting evidence

• LedgerRevenue declined 79.8% year-over-year, indicating the mining-to-HPC transition gap is substantial and unresolved in Q2 2026
• GuidanceGuidance maintained
• LedgerRevenue -6% YoY (Q2 FY2026)

• EventRevenue Decline -79.8% YoY
• EventHPC/AI Pivot In Progress
• EventGuidance Unchanged
• EventIncreases total contracted capacity to over 360 MW and represents $6.7 billion in contracted revenue.
• EventSignificantly increases contracted revenue and data center capacity, supported by Google's financial commitment.
• EventRaises substantial capital for the company, indicating strong investor confidence.
• InitiativeAssessed as 'Strong' for Sustainability Contribution and 'Aligned' with Green Bond Principles 2025 by Sustainalytics.
• InitiativeMultiple projects (CB-2, CB-3, CB-4, CB-5) are under construction or commencing operations, with significant capacity additions and new site acquisitions.
• InitiativeAdvanced through recent acquisitions in Kentucky and Maryland.
• InitiativeReflected in strong year-over-year growth and expansion of contracted HPC platform.
• EventSevere near-term revenue contraction of 79.8% YoY creates balance sheet and liquidity pressure during HPC transition
• EventCustomer concentration risk with Google as a key customer; loss or delay of this relationship would materially impair the HPC revenue ramp