Ann: Company Update, page-29

With respect the lion’s share of capex for a DC is the data hall fit out, not the site acquisition cost. In general capex in the industry is $10M + per MW for fit out alone. My point still stands in relation to the 24MW - it’s a huge funding task for a minnow like DXN.
Furthermore, the capex isn’t funded by the customer. “Sales” of modules will cover the cost of construction and profit margin, that hardly delivers a warchest of hundreds of millions to build the large DCs.
Not having a bag of the company here btw, I was just a bit concerned at the comparison to NXT. That company has invested more than half a billion - it’s not comparable in any way.