Strata retweeted
我之前说过，如果 $BTC 跌至 65,000 美元，我就会向 5 个人赠送价值 20,000 美元的比特币。
现在，我们真的跌到这个价位了。
正如我承诺的那样，今天我将向 5 位幸运获奖者赠送价值 20,000 美元的 $Bitcoin。
参与方式：
✅ 点赞
✅ 转发
✅ 评论“Bitcoin” 🔔
参与将在 24 小时后截止。祝大家好运！
Strata retweeted
This is actually a bigger deal for humanity than most people can imagine. I will always remember the looks on the engineers’ faces in the Starbase conference room in December 2020 when @elonmusk suggested, then insisted, that the Mechazilla launchpad arms could catch a returning Starship.
Strata retweeted
Congrats @SpaceX for that starship catch, still feels like science fiction! Watching it live was incredible. Upwards!
Strata retweeted
He's right. Here's why, in plain words.
Deutsche Bank estimates SpaceX builds 1 GW of AI compute for ~$35B. The industry pays ~$50B.
Same GW. 30% less money.
Why it costs less:
1. Old buildings, new compute. Gun Range was literally the local police gun range. Spam used to house Hormel products. Buy and convert, don't build from zero.
2. Speed. Colossus halls went live in 122, 91 and 64 days (IPO filing). Less money sitting idle, less interest paid while you build.
3. Own power. SpaceX casts its own turbine blades in its rocket engine shop. Elon says that brings power online 12 to 18 months faster than anyone else. Tesla Megapacks on site.
4. Built for the job. Spam is set up for inference, so "much simpler networking and less than half the fiber" (Elon).
5. Cheap money. SpaceX is investment grade (Moody's Baa1, S&P BBB, Fitch BBB+). Its bonds pay 5.35% to 6.65%. CoreWeave is rated junk (BB-) and its 2031 bond yielded 15.78% last month.
6. The bottlenecks are in-house. Power, rockets for compute in orbit, and soon its own chips with Terafab.
Now the payback, my math:
1 GW rents for about $50B a year ($50 per watt)
$35B build = 8.4 months to earn it back
$50B build = 12 months
The CFO on the Q3 call: new compute pays back in "less than a year"
Borrow at ~6%. Every $1 you build brings in ~$1.43 of revenue a year.
My read: the market sees $35-40B of Q4 capex and panics. It should see about a GW of new watts that pay for themselves before next Christmas lol
teapawt.net/spcxgod/status/2116864…
Elon: "Our capex efficiency is greatly underestimated"
He's right. Here's why, in plain words.
Deutsche Bank estimates SpaceX builds 1 GW of AI compute for ~$35B. The industry pays ~$50B.
Same GW. 30% less money.
Why it costs less:
1. Old buildings, new compute. Gun Range was literally the local police gun range. Spam used to house Hormel products. Buy and convert, don't build from zero.
2. Speed. Colossus halls went live in 122, 91 and 64 days (IPO filing). Less money sitting idle, less interest paid while you build.
3. Own power. SpaceX casts its own turbine blades in its rocket engine shop. Elon says that brings power online 12 to 18 months faster than anyone else. Tesla Megapacks on site.
4. Built for the job. Spam is set up for inference, so "much simpler networking and less than half the fiber" (Elon).
5. Cheap money. SpaceX is investment grade (Moody's Baa1, S&P BBB, Fitch BBB+). Its bonds pay 5.35% to 6.65%. CoreWeave is rated junk (BB-) and its 2031 bond yielded 15.78% last month.
6. The bottlenecks are in-house. Power, rockets for compute in orbit, and soon its own chips with Terafab.
Now the payback, my math:
1 GW rents for about $50B a year ($50 per watt)
$35B build = 8.4 months to earn it back
$50B build = 12 months
The CFO on the Q3 call: new compute pays back in "less than a year"
Borrow at ~6%. Every $1 you build brings in ~$1.43 of revenue a year.
My read: the market sees $35-40B of Q4 capex and panics. It should see about a GW of new watts that pay for themselves before next Christmas lol
Revenue, not profit.
$SPCX
Strata retweeted
As a SpaceX $SPCX shareholder since 2020, I can say this with full responsibility: Elon’s words are true. SpaceX has always been brutally efficient and disciplined with CapEx.
If they can build it themselves and save money, they never pay for convenience.
2 examples from the early days:
A vendor quoted $120,000 and 18 months for a Falcon 1 second-stage actuator. Elon laughed: “That part is no more complicated than a garage door opener. Your budget is $5,000.” An engineer built it for $3,900.
Another vendor quoted hundreds of thousands and a year and a half for an engine valve, then smirked and walked out. SpaceX’s team built and qualified it by summer. When the vendor called back begging to talk, the answer was: “We’re done.”
This isn’t ideology. It’s math. Raw materials are ~2% of a rocket’s cost. The other 98% is process, overhead, and stacked supplier margins. Control the process, and you capture the savings.
That’s the same discipline behind the $470B capex debate. The models assume aerospace-industry waste. SpaceX doesn’t operate that way.
Strata retweeted
“Bitcoin will never make another all-time high” is a really clever-sounding call to make right now. It’s also shortsighted. I’ve seen the same take at every 200-week retest.
Strata retweeted
Pretty amazing how off people are about $SPCX.
It is a gift.
Think SpaceX is a long term hold, but also don't see how you can be that bullish on it here at $2T valuation. Feels fully baked for the foreseeable future.
Growing at only 35% or so, Elon assets potentially into headwinds, maybe more in 2028. 20% or so from government contracts. Just feels like you're going to at some point get a significantly sweeter long term entry.
$SPCX
Strata retweeted
TOM LEE: OWN SPACEX $SPCX THE WAY YOU SHOULD HAVE OWNED TESLA
He says the trap is treating a conglomerate like a single monoline business:
- SpaceX carries a conglomerate discount because complex multi-unit businesses start to look messy
- The right way to own it is as a 10-year long-term bet on all the problems Elon Musk is solving
- Anyone who viewed Tesla as just a car company missed Optimus, robotaxi and full self-driving
Strata retweeted
So let me get this straight.
SpaceX gets a 6 month to 1 year payback on MASSIVE compute clusters.
It can then turn around and sell the capacity to customers at MASSIVE premiums as the demand for tokens continues to go exponential.
Once those massive clusters are paid off, it can then repoint that same capacity at its OWN models (Grok/Grok Bot) and make insane margins on clusters that are already paid off.
And it's working on creating an entire vertical stack that includes making its own chips (Terafab).
How is this not the most valuable company in the world?
$SPCX
Strata retweeted
We have signed a major supply contract with SINGULUS to create a durable option for advanced solar cell manufacturing to support more than 100 GW of equipment as we accelerate the production of our Starmind satellites in Bastrop, Texas → singulus.com/2026/11/10/spac…
Strata retweeted
Watch Starship Flight 15
teapawt.net/i/broadcasts/2brajgZlO…
