Cipher Digital's long data-center leases include rent increases. Rising yields still reduce the value of payments due years from now and make debt-funded building plans costlier.
Rent increases offer some protection to Cipher's lease income. But the payments stretch years into the future, so rising yields make them worth less today. Higher borrowing costs also make debt-funded construction more expensive.
Riot still depends heavily on mining income, and a weaker Bitcoin price squeezes its margins. Its growing AI hosting business may help, but the article says that business is still ramping up.
CleanSpark still depends heavily on mining income, and a weaker Bitcoin price squeezes its margins. Its growing AI hosting business may help, but the article says that business is still ramping up.
IREN's Microsoft contract brings in a large customer, but the company must spend heavily on equipment and other costs. Its large loans and rising borrowing costs add pressure to that buildout.
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