| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 28, 2026 | 6/12 | 3 high, 3 medium, 1 low flags | 0 | 1 | Call sheet → |
| Q1'26 | May 6, 2026 | 7/12 | 3 high, 4 medium, 1 low flags | 5 | 1 | Call sheet → |
| Q1'25 | May 7, 2025 | 5/12 | 2 high, 4 medium, 1 low flags | 1 | 1 | Call sheet → |
| Q4'24 | February 26, 2025 | 4/12 | 2 high, 4 medium, 1 low flags | 2 | 3 | Call sheet → |
| Q3'24 | November 6, 2024 | 4/12 | 3 high, 4 medium, 1 low flags | 3 | 3 | Call sheet → |
| Q2'24 | August 7, 2024 | 4/12 | 4 high, 3 medium, 1 low flags | 3 | 2 | Call sheet → |
| Q1'24 | May 8, 2024 | 7/12 | 1 high, 4 medium, 3 low flags | 2 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Deploy $2 billion total CapEx in 2026 No update on progress, but large commitments announced |
| Q2'26 | Pending | Wind down Bitcoin by end of year to 1-2 sites Currently at 2 sites, essentially achieved early |
| Q2'26 | Pending | Meaningful step down in Bitcoin miners in second half Already down to 2 sites, appears on track |
| Q2'26 | Missed | $30M quarterly SG&A baseline Came in at $36M, though $4M allegedly one-time |
| Q2'26 | Pending | Complete Dalton Phase II in early 2027 Reconfirmed timeline, remains on track |
| Q2'26 | Pending | Deliver more than 450 billable MW by end of summer Currently at 437 MW in mid-July, on track but tight timeline |
| Q1'26 | Delivered | Deliver capacity on CoreWeave contract 350MW energized, 'well past halfway mark' of 590MW contract |
| Q1'26 | Delivered | Report megawatts when billing starts Now reporting 243MW billing, cleaner metric |
| Q1'26 | Exceeded | Make a financing announcement Closed $3.3B bond financing, larger than market expected |
| Q1'26 | Delivered | Sign new large land and power agreement Hunt County, Texas acquisition for 430MW gross power |
| Q1'26 | Delivered | Sign one new power expansion at existing site Dalton expanded to 450MW total capacity |
| Q1'26 | Missed | Sign at least one new customer by Q1 earnings Explicitly admitted failure: 'We did not sign one by this call' |
| Q1'25 | Pending | 590MW total CoreWeave capacity by early 2027 Timeline intact but execution risk rising with permitting issues |
| Q1'25 | Delivered | Deliver Austin 16MW thirty days ahead of schedule Completed in Q4 2024 as promised |
| Q1'25 | Pending | CoreWeave below 50% of billable capacity by end of 2028 Changed metric from 'billable capacity' to 'critical IT load', subtle goal post move |
| Q1'25 | Pending | 250MW to CoreWeave by end of 2025 Reiterated but with added 'approximately' qualifier |
| Q1'25 | Missed | Sign another large HPC hosting customer in 2024 Failed completely; ended year with only CoreWeave as customer |
| Q4'24 | Missed | Secure additional power at existing sites before end of 2024 Only got Denton approval, which came with CoreWeave contract, not organic |
| Q4'24 | Delivered | 16MW of HPC capacity by year-end Achieved 16.5MW |
| Q4'24 | Missed | Diversify client base by gaining new clients Zero new HPC customers announced despite 'dozens' of discussions |
| Q4'24 | Missed | Secure new sites for expansion Alabama was already announced in Q3, no NEW sites this quarter |
| Q4'24 | Delivered | Average power cost $0.042-0.044/kWh for 2024 Beat at $0.04/kWh actual |
| Q4'24 | Pending | Begin delivery of powered infrastructure by end of H1 2025 Reaffirmed but with caveats about only having 250MW by year-end |
| Q3'24 | Delivered | Secure new site for expansion in 2024 Alabama site secured, though it's only 11MW currently operational. |
| Q3'24 | Missed | Contract remaining 118MW by early September Only contracted 112MW more, leaving 118MW still uncontracted past the deadline. |
| Q3'24 | Pending | Begin delivery of HPC infrastructure in H1 2025 Maintained timeline but added hedging about supply chain 'bottlenecks'. |
| Q3'24 | Missed | Procure 10,000-15,000 additional miners in 2024 Did not procure any new miners in Q3. Now saying no more until Block chips in H2 2025. |
| Q3'24 | Missed | Achieve 21.8 exahash self-mining hash rate in 2024 Metric completely disappeared from guidance. They've abandoned this target. |
| Q3'24 | Delivered | Complete 100MW Pecos expansion Confirmed completed in Q3 as scheduled. |
| Q3'24 | Exceeded | Deliver Austin data center for HPC in Q2 Delivered 30+ days early, generating revenue in Q2 as promised. |
| Q2'24 | Missed | Diversify HPC client base All incremental capacity went to CoreWeave, increasing concentration |
| Q2'24 | Missed | Keep bitcoin on balance sheet from HPC cash generation No mention of bitcoin holdings or treasury strategy this quarter |
| Q2'24 | Delivered | Build out HPC business further over course of year Expanded from 200 MW to 382 MW contracted |
| Q2'24 | Pending | Purchase additional miners after halving at better prices Still planning 10-15K miners but no purchases announced yet |
| Q2'24 | Delivered | Complete 72 MW Denton expansion by end of Q2 Completed as promised, bringing total to 830 MW operational |
| Q2'24 | Delivered | Provide more details about emerging alternative compute hosting business when definitive agreements reached Announced CoreWeave expansions totaling 382 MW |
| Q1'24 | Delivered | Continue to be largest bitcoin miner 2,825 BTC in Q1 maintained leadership position |
| Q1'24 | Delivered | Fund growth from operating cash flow Generated strong cash in Q1, funded operations without external capital |
| Q1'24 | Pending | Power costs between $0.045-0.047 in 2024 Q1 at $0.043, actually beating their own guidance so far |
| Q1'24 | Missed | CoreWeave revenue to appear in 'next few months' Said this in Q4, now in Q1 still saying 'over the course of the next few months' |
| Q1'24 | Pending | Achieve 21.8 exahash self-mining by year-end 2024 Currently around 17 EH based on April deployment completion, needs 4+ EH more |
| Q1'24 | Pending | Complete 72 megawatts at Denton by end of 2024 Now saying 'energize by end of Q2', slight acceleration but changed from 'complete' to 'energize' |
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