Imagine still calling $NBIS a capital-starved money pit when customers are now prepaying more than 100% of the associated CapEx on new…

First reported Nov 12, 2026, 20:29 UTC

Source reports

Imagine still calling $NBIS a capital-starved money pit when customers are now prepaying more than 100% of the associated CapEx on new deals. Prepayment coverage jumped from 50–60% in Q2 to >100% in Q3, attached to over 90% of new contract value. Buyers aren't just renting GPUs… — @bmcneely08 (X), Nov 12, 2026, 20:29 UTC
$IREN We're already there, XCap! $NBIS all but confirmed that today. They said that prepayments on contracts signed in Q3 now exceed total capex. Not just GPU capex, total capex, as in including the DC construction, leases, or leasehold improvements. Quotes: “Prepayments on Q3… — @_Sgr_A_Star (X), Nov 12, 2026, 21:30 UTC

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