Alternative way to play ahead of IPO?
I found this article interesting.
Digi Power X started the transition from bitcoin mining to AI data center hosting about a year ago. They are very early and just now starting to sign up customer. They had a small deal with SMCI recently, but this deal with Cerebras is the big splash. Also helps Cerebras show they are getting capacity to support large customers. The initial deal is only for 40MW, but can be expanded. Digi Power X operates in Alabama, North Carolina and upstate New York and supposed has a total capacity of about 400MW of power across those sites.
They also have an LOI with a power plant in West Virginia that is very interesting (Pleasants Power Station). It has 1.3 GW of power (that appears to be "nameplate" power and not necessarily usable power). It's coal powered (clean beautiful coal?), but they are apparently at least trying to switch to hydrogen power. The plant stopped operating for time in June 2023 as a coal plant and it was sold to this outfit named Omnis who wanted to convert it to some hydrogen/grahite technology. They did restart the coal operations though. Omnis wants an AI data center partner now and its trying to get a contract. In the meantime, they appear to be making progress on the switch to hydrogen, but this power plant seems to have a pretty bad reputation in West Virginia.
It's only an LOI, but Cerebras maybe saw this as another reason to get in with this company and have optionality later for much greater access to capacity. This might get a further bump at Cerebras IPO time as people learn more about Cerebras and research them. Just interesting, not investment advice, do your own research.