u/Jorgen1974

LOKO (Lokotech) – listed on Euronext Growth Oslo.

I think the market is still pricing Lokotech as a small ASIC company, despite it now building a much larger ecosystem across both ASIC and AI. With a market cap around NOK 400 million, the risk/reward is becoming increasingly interesting in my view.

Many still see only a Litecoin miner. I see something broader.
Lokotech is developing a dual-chip ASIC architecture, where the same hardware can be booted for different purposes. It is the onboard controller layer that determines whether the chip operates as ASIC mining hardware or AI compute. This also creates a major operational advantage: if part of a chip fails, it can be isolated while the rest continues running. That reduces downtime, improves efficiency, and is one of the reasons Lokotech expects roughly double lifetime compared to traditional designs.
The company is also working at 12nm, which many underestimate. Competitors are already moving into 4–5nm, where costs are significantly higher and scaling becomes increasingly expensive. Based on Cadence simulations and MPV results, Lokotech has indicated strong efficiency even at 12nm. If this holds in production, it could mean dramatically lower manufacturing costs today, with potential to scale down further later. For US and Canadian partners thinking in millions or billions of chips, production cost becomes critical.
Lower energy consumption also means profitability even in high electricity price environments. This is ultimately a winner-takes-most market where efficiency determines survival.
I also like how the ecosystem is forming. The hashblade design allows ordinary desktop users to plug in and mine directly. Everything connects to Lokotech’s own PowerPool, meaning growth in hardware sales also drives pool activity and strengthens HODLite. The company is also establishing a crypto fund in Estonia, likely for tax advantages, and there are indications they want to own parts of the hashrate through hosting and infrastructure.
On the AI side, I think the market is still missing the bigger picture. Arctic AI, the chairman’s focus on agentic AI and distributed compute, and the JV LOI with US and Canadian partners all point, in my view, toward a broader AI platform strategy, not just an AI chip. If the JV is finalized, it likely represents much more than a single hardware collaboration.
SOC2 is already in place and SOC1 is in progress, which could be key for attracting larger enterprise clients. Even a few major contracts could materially change the revenue profile.
Carlsquare lowered its price target due to delays, but in my view it did not fully reflect AI, HODLite, the JV structure, enterprise opportunities, or the broader pipeline.
Technically, I would like to see a clear breakout above NOK 0.73. If that level breaks with volume, sentiment could shift quickly.

Disclaimer: I am a Norwegian investor and among the top 50 shareholders in LOKO. This is my personal view and not financial advice. Do your own research.

After five years as a shareholder, it feels like several pieces of the puzzle are finally starting to come together at the same time.
Many still view Lokotech as an ASIC company. In my opinion, that description is becoming increasingly incomplete.
Selling miners and offering hosting is one part of the story. From Batch 3, miners are expected to be paid 100% upfront. Every machine connects to PowerPool.io, creating recurring revenue streams. HODLite is also in its final stages and could provide exposure to owned hashrate. In simple terms, it’s the difference between selling apples and owning the apple trees.
What I believe the market may be overlooking is the June 19 announcement. Lokotech signed an LOI with U.S. and Canadian partners to commercialize the AI functionality embedded in its ASIC through a new joint venture. The goal is to develop Arctic AI into a leading Edge AI inference platform targeting next-generation AI workloads. The company points to an addressable market exceeding $250 billion by 2030.
This announcement came only weeks after the successful tape-out of the Scrypt/AI ASIC.
Technically, the stock also appears stronger than it has in a long time, following a double-bottom breakout with the next major resistance around NOK 0.90–0.91.
And then there’s Ben, who has hinted that something new is coming on Monday.
Perhaps the market still values Lokotech primarily as an ASIC company. I’m starting to wonder if what we’re really looking at is an ASIC, AI, infrastructure and hashrate ecosystem in the making.

Disclaimer: I own shares in Lokotech and am among the company’s Top 50 shareholders. These are my personal views and not financial advice.