Lend and borrow against contracted compute. Facilities are collateralised by delivery obligations and marked to the same index.
Borrow against pre-sold capacity to finance racks ahead of the revenue they'll produce.
Underwrite against an asset with a transparent, index-referenced mark and clear recovery path.
Gain exposure to compute credit with structures that settle against the same curve.
Contracted compute and delivery rights are pledged as collateral.
The borrowing base is valued against the published index.
Advances are made within an agreed loan-to-value ratio.
Covenants track the mark; delivery feeds recovery if needed.