$NBIS hasn't disclosed:

• The exact MWs or GPUs delivered to $MSFT

• How much they are paying to rent any of their data centers
They have not disclosed the terms of a single leasing contract, which every other company like $MSFT, $IREN, $AMZN, $CIFR, and $WULF does disclose

• Electricity rates in any of their data centers

• Which data center the $META deal is tied to, and the GPUs or MWs to deliver

• What GPUs they are buying, when they are buying them, and at what price

And there are probably more details missing

Why?

It makes the job of retail investors very hard. I am sure they share much more information when they meet with DA Davidson, which does not feel fair to the retail shareholder base