The easy money has been made by shorts on $IREN. There are no downside catalyst left; only positive news coming. They will name the "leading fronter lab" and release the contract details soon enough. You better believe its going to be a great contract. The last earnings was
The biggest exciting take away from the $IREN ER was:
- 45–55% GPU capex prepayments
- GPUs are 90% financed
GPUs are 2/3s of the cost of new data centers so they actually have more then enough CAPEX.
This means they can build the new datacenters without dilution. For
$IREN had a really good ER. People are disappointed because the price after hours didn’t gap up? What were they expecting? Things are going great for $IREN. They are racing forward bringing compute online as fast as they can, and contracting it is no issue. In fact, the next
I'm starting to think it really doesn't matter what $IREN says at the ER. We all know the great things that transpired over the last 6 months but the stock price has been suppressed and doesn't reflect the new fundamentals. The pressure has been building. Its like holding a
I often sanity check my $IREN thesis. $60 is the minimum of where it should be trading once they deliver $4B ARR. This is still conservatively cheap, but with the macro putting pressure on the AI trade, everything needs to be dialed back. I assume 400m shares outstanding fully
