The Infrastructure Arbitrage Thesis

Exactly. So our mission here is to unpack what the report calls the infrastructure

arbitrage thesis for you. Infrastructure arbitrage. Okay. So what does that

actually mean in plain English? It's... Well, it's about how a

company completely changes its identity. You know, it starts as a super volatile Bitcoin

miner. Commodity producer, basically. Yeah. A cyclical commodity

producer. And it's trying to become something stable, like a high value

data center operator, a digital REIT. And the key here is that their most valuable asset isn't

even the mining rigs anymore. Not even close. It's their energy pipeline.