contract + energized line of sight, aspirational toggle what counts as bankable capacity
Contracted megawatts vs marketed gigawatts in the distributed colocation power path 1 MW 10 MW 100 MW 1 GW line of sight un-contracted 18 MW 2.5 GW 2.5 GW by 2027 · ? power contracts GPU supply capital sub-50 MW colo sites energized fleet ≈ 18 MW, YE2026 substation grid feed Atlanta · 3.75 MW capacity ledger, what counts energized + contracted 18 MW ≈0.7% of marketed 2.5 GW marketed line of sight 2.5 GW by 2027, un-contracted line of sight to load needs power contracts GPU supply capital all locked follow contracted, utility-served MW 1 · colo leases, months not years 2 · small pacts marketed as line of sight 3 · energization gates, contracts GPU capital 4 · signal, utility-served MW + milestones