We share Q4 and full-year results, then lay out how hydro cooling, energy grants, and site design set up Christina Lake to become a staged AI campus. We walk through our trust, pool, and software stack, and explain why AI co-location now offers the best near-term upside while Bitcoin remains core.• revenue up year over year and cash from operations doubled• balance sheet strength under IFRS vs US GAAP context• hydro conversion results and efficiency grant impact• shift to liquid cooling to match AI density needs• Christina Lake positioned as an AI factory with staged scale• carbon neutral Bitcoin via TerraPool with modest premiums• Systemic Trust custody and SOC 2 readiness for institutions• Reactor hash rate contracts and Helm mine management rollout• co-location demand trends and right-sized site strategy• Canada vs US power, policy, and latency considerations• sequencing across Christina Lake, Malahat, and Oregon• 2026 focus on AI, digital asset financial services, and selective M&ATake a second, smash the like button, guys. If you have any additional questions for Sheldon or Steve, leave them in the comment section below. You guys hit the like button, feel free to subscribe, and happy holidays.Anthonys Info: Website: https://www.powermininganalysis.com X: https://twitter.com/cazenove_uk Patreon: https://www.patreon.com/Cazenove_UK Bryce's Info: X: https://twitter.com/McnallieM Patreon: https://www.patreon.com/McNallieMoney Merch: https://shop.mcnalliemoney.com/ Website: https://www.mcnalliemoney.com Business Inquiries: Email - [email protected]

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