Aeluma announced the appointment of Bouch Nassar as senior vice president of business development and product. Klamkin said Nassar brings decades of experience in semiconductor photonics and has held roles spanning sales and product leadership, including at JDS Uniphase/Lumentum, as well as leadership positions at SCD USA and Princeton Lightwave. Klamkin said the hire aligns with Aeluma’s stage of development as it receives an increasing number of requests for quotation and has begun taking sales orders.Whi ...

Financial Data and Key Metrics Changes - In Q3 2025, the company reported revenue of $72 million, a 65% increase from $44 million in the previous quarter, driven by higher Bitcoin prices and increased production from the Black Pearl facility [28] - The company achieved a GAAP net loss of $3 million, or $0.01 per share, compared to a net loss of $46 million, or $0.12 per share in the prior quarter, reflecting substantial quarter-over-quarter improvement [29][30] - Adjusted earnings for the quarter were $41 million, or $0.10 per share, up roughly 34% from $30 million in the previous quarter [31] Business Line Data and Key Metrics Changes - The company increased its operational mining capacity from 423 megawatts to 477 megawatts, achieving a total self-mining hash rate of approximately 23.6 exahash per second [15] - The Bitcoin mining operations generated a total of 629 Bitcoin mined across wholly owned sites, compared to 434 Bitcoin in Q2 2025 [32] - The company grew its contracted AI hosting capacity from zero to 544 gross megawatts this quarter across two transactions with partners [16] Market Data and Key Metrics Changes - The company secured a 15-year lease with Amazon Web Services for 300 megawatts of gross capacity, representing approximately $5.5 billion in contract revenue over the initial term [7] - The first HPC deal with FluidStack and Google established a 10-year, 168 critical IT megawatt AI hosting agreement, generating approximately $3 billion in contracted revenue [12] - The company reported a robust pipeline of 3.2 gigawatts of future capacity spanning from 2025 to 2029 and beyond [16] Company Strategy and Development Direction - The company is pivoting into the high-performance computing (HPC) space, establishing itself as a leader in next-generation compute infrastructure [5][6] - The strategic focus includes securing long-term leases with major technology companies and expanding its development pipeline for HPC data centers [14] - The company aims to leverage its energy assets and operational excellence to meet the surging demand for HPC workloads [8][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning to capture near-term opportunities created by the growing power shortfall in the HPC market [24] - The management highlighted the importance of partnerships with major players like Google and AWS in enhancing credibility and facilitating future approvals [63] - The company anticipates continued strong demand for its services, with multiple parties interested in its available capacity [53] Other Important Information - The company completed a $1.3 billion convertible offering, which was oversubscribed and reflects strong investor confidence in its strategy [13][27] - The operational efficiency of the mining fleet stands at an impressive 16.8 joules per terahash, making it one of the most efficient miners in the industry [15] - The company maintains a disciplined approach to capital allocation, ensuring sustainable long-term growth and value for shareholders [25] Q&A Session Summary Question: Distribution of power and pricing across liquid and air-cooled systems - Management indicated that the specifics of the AWS deal are still being finalized, with expectations for competitive pricing similar to previous agreements [40] Question: Financing plans for ongoing projects - Management confirmed that they are exploring various financing options for both the FluidStack and AWS deals, with a focus on leveraging existing cash reserves and favorable market conditions [42][44] Question: Update on power availability from the growth pipeline - Management provided insights on the timelines for ERCOT approvals and the expected energization of various sites, emphasizing confidence in meeting these timelines [48] Question: Optionality of the 56 megawatts of capacity - Management noted ongoing discussions regarding the use of the 56 megawatts for either operating their own GPUs or leasing on a co-location basis, with strong market interest [52] Question: Design and capex for the Colcas site - Management discussed the expected capex for Colcas and the benefits of recent leases in enhancing credibility for future approvals [57][63]