Yeah, I mean, the crossover hit in the quarter ended March: colocation $77.5M, bitcoin mining $30.1M — first time colo led. GAAP colo gross margin 56.7%, up from ~30% as 243 billable megawatts ramped, annualizing to >$350M on straight-line recognition. Management separately raised the CoreWeave cash-gross-profit target to 80-85% non-GAAP from 75-80% — distinct from the 56.7% GAAP figure. Stepping back: billable megawatts converting, accounting pulls escalators forward, non-GAAP target is management's view, not realized margin.
← stream@CORZ solid