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    Will Cops

    Research Analyst at Piper Sandler

    Will Cops is an Equity Analyst at Piper Sandler specializing in coverage of blockchain and cryptocurrency-related companies, with a recent focus on Riot Platforms Inc. With experience in conducting earnings call analyses, Cops has demonstrated sector expertise in blockchain and digital asset infrastructure. He began his analyst career before joining Piper Sandler, contributing industry insights on technology-driven firms. He holds relevant securities licenses and is registered with FINRA, reflecting his adherence to professional standards in investment research.

    Will Cops's questions to Riot Platforms (RIOT) leadership

    Will Cops's questions to Riot Platforms (RIOT) leadership • Q1 2025

    Question

    Will Cops of Piper Sandler asked about any shifts in demand or decision-making timelines from potential AI/HPC tenants and inquired about the potential structure of project-level financing for data center developments.

    Answer

    CEO Jason Les confirmed that demand from hyperscalers remains robust, citing public commentary from major tech companies about increasing CapEx. He explained that financing options will be chosen to maximize value and secure the best cost of capital, noting that the quality of the tenant will significantly influence the financing terms available. He mentioned that no specific financing structure is set, but they are working with advisors Evercore and Northland.

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