Execution risk.
The big discount to "fair value" is they dont have the pedigree/history of other established miners.
As they tick the boxes and cash comes in the door it will narrow.
A lot can go wrong in mining.
Delays. Cost overrunds. There are still China tensions. Price whatever discount you want for each of those and others i havent included.
As you tick each box the price should rise.
Seeing is believing and that 1st shipment and cash in the bank is key.
Followed by the quarterly to show cash out the door vs coming in.
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