Longterm @longtermst

While bears panic — $KEEL just posted Sharon progress. One of two custom 100 MVA transformers completed manufacturing and factory testing for the 80 MW substation. Industry transformer lead time: 120 weeks. KEEL's hardware is already through the gate. $KEEL @keelinfra_

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Citizens just initiated $KEEL coverage — Market Outperform. First PT set post-FERC June 18. The conference hosting Wayne Duso tomorrow just told their institutional audience what they think the binding constraint is worth. $KEEL

IDPs are the new IPPs — whoever controls power, interconnection, and proximity to generation captures the repricing. FERC June 18 confirmed it. $KEEL already owns the binding constraint. $KEEL

@shinnisa334841 Great synthesis of the DPW series. One primary source add: AGP Fireside June 22 — CEO confirmed Amazon and CoreWeave are adjacent to Panther Creek on record. The binding constraint framing is exactly right. $KEEL

Worth adding — FERC reversed its December 2025 BTM ruling on June 18. Behind-the-meter generation can now access PJM transmission services across all six regions. For $KEEL that means Scrubgrass — 650 acres, adjacent 550MW gas pipeline — just got a new development pathway. $KEEL

FERC's message on June 18 was clear: hyperscalers bring your own power. Don't make residential fund AI infrastructure. $KEEL secures power independently, builds before signing tenants, absorbs development risk. The regulation caught up to the model. $KEEL ir.keelinfra.com

@SupremeFireCPG @Hines690 @grok Strong breakdown. Worth adding Gagnon AGP Fireside Jun 22: Moses Lake customer profile is "emerging neocloud, enterprise, or government." KEEL underwrote long lead equipment because smaller customers lack hyperscaler specs. The turnkey setup tells you who they built it for. $KEEL

Why KEEL's geography matters: CEO @CaptainKeel confirmed PUE of 1.25 vs 1.4 in Texas. On 1000MW that's 800MW for compute vs 666MW — a 20% advantage. Nobody gets paid on cooling megawatts. Tenants get paid on compute MW. Location is the moat. AGP Fireside — primary source. $KEEL

@justakeelguy 10bil possible Q1 2027!

This morning CEO Ben Gagnon confirmed on record: Amazon acquired two sites within 45-60 min of Panther Creek. CoreWeave has 300MW southwest of it. The hyperscalers aren't coming to KEEL's neighborhood. They're already there. AGP Fireside — primary source. $KEEL

BofA called 75bps of Fed hikes today — three increases through year end. $KEEL raised $400M at 1.25% fixed in early June. Before any of this. Every competitor raising capital now faces a different rate environment. Gagnon saw the window and took it. Chess, not checkers. $KEEL

The receipts: $66.42M hit the dark pool today — 9.3M shares printed off-exchange at $7.05-$7.18 during the exact pullback from $7.37. That's institutional absorption. Not algos. Not shorts. Real money buying what retail was selling. $KEEL

Today's $KEEL tape told the story. Opened $6.66. Spiked to $7.37 new 52W high. Retail sold. Institutions bought the dip. Closed $6.66. 107M volume — 2.8x the 90-day average. Broad market red. CEO said it this morning: "Absolute Goldilocks phase." Russell execution Thursday. $KEEL

@LongEquities Heads up the govt contract narrative traces back to a misidentification. StocksToTrade issued a correction Apr 16: 'There is no such contract.' Keel Holdings LLC (unrelated) has govt contracts. $KEEL's move today is Russell inclusion + TSX gap closure. Real thesis, wrong catalyst

@LongEquities Heads up the govt contract narrative traces back to a misidentification. StocksToTrade issued a correction Apr 16: 'There is no such contract.' Keel Holdings LLC (unrelated) has govt contracts. $KEEL's move today is Russell inclusion + TSX gap closure. Real thesis, wrong catalyst

@noface_trdr @JaneStreetGroup @leopoldasch Jane Street filed a 13G — passive, long-term intent. Active traders file 13F. Different animal. They're also an investor IN Situational Awareness LP (Leopold's fund). That's not a market maker play. That's conviction stacking. $KEEL

@Ask_eggrollking @noface_trdr @JaneStreetGroup @leopoldasch Jane Street filed a 13G — passive, long-term intent. Active traders file 13F. Different animal. They're also an investor IN Situational Awareness LP (Leopold's fund). That's not a market maker play. That's conviction stacking. $KEEL

6/ The full picture. FERC unanimous — NDAs protected. Russell confirmed — LSEG PDF. Q2 earnings Aug 10. CEO: 129 investor meetings in 37 days. Infrastructure built. Path cleared. Institutions forced in this week. The lease confirms what the patient already knew. $KEEL

Most are waiting for a lease to tell them it's time. That's the wrong signal. Pre-lease. Pre-discovery. Pre-re-rating. 478MW pipeline. 3 active NDAs. $533M runway. Russell forced buying Jun 26. The opportunity is the silence before it. $KEEL — Not financial advice.

5/ The re-rating math. Pre-lease comps trade at ~$3/W enterprise value. Post-lease comps trade at ~$9–10/W. KEEL is at $3/W today. CEO on record: each lease reshapes how this company is valued. None have yet. $533M runway. No dilution. 3 active NDAs.

4/ Financing depth nobody has published. The man who built KEEL's PA sites — Panther Creek and Scrubgrass — now runs DOE's Office of Energy Dominance Financing. $289B in lending authority. CEO guided post-lease financing will be non-dilutive. Not coincidence.