86% of queued capacity in U.S. interconnection queues never generates a watt. That’s not a forecast. That’s the historical base rate, and the five pieces before this one walked through why the market is only now starting to price it correctly.
We went from order to commissioning in 8 months.
Not a roadmap slide. Not a target on a slide deck. A completed, 5-phase build program, documented in the engineering brief that governs our Gen1 modular unit: 392 GPUs, roughly 450 kilowatts of IT load, PUE at or below 1.12 on closed-glycol cooling. The receipt exists. We’re not asking anyone to take our word for the timeline. We’re pointing at the spec.
This isn’t a thesis about what should happen to queue risk once the market fully prices it. It’s proof that a version of this exact problem is already solved, at a specific unit economics, on a specific timeline, by a team that’s already done it once. Everyone else in this series has been describing a mispriced risk from the outside. This is what it looks like from the other side of it.
If interconnection is the real diligence line item, and the last five pieces made the case that it is, the follow-up question is the only one left: who’s already cleared it, and are you talking to them.
Get the full breakdown in our market report, the grid data, the auction pricing, and the build specs behind this series, all in one place.