1Wk·

Irish reports monthly update from June

$IREN (-0.96%)

Important milestones:

- Record total sales: 68 million US dollars

- Record profit in the hardware segment: 51

million US dollars

- Self-reduction target of 50 EH/s achieved

- AI Cloud expanded: ~2.4k NVIDIA Blackwell GPUs added (1.3k B200 + 1.1k B300)

- Convertible bond offering: 550 million US dollars, oversubscribed

🚀

BamBamInvest

@BamBamInvest

2Wk·

IREN is pleased to announce the expansion of its AI Cloud business 🚀

$IREN (-0.96%)
$NVDA (-0.68%)

- Purchase of ~2,400 NVIDIA Blackwell GPUs (B200/B300)

- Fully financed from cash reserves

- Deployed in Prince George data center

- Increases total fleet to ~4,300 NVIDIA GPUs

- Enables next generation training and inference at scale

- Expected to deliver strong risk-adjusted returns

- Supports opportunities across the AI data center business

Press Release:

https://irisenergy.gcs-web.com/static-files/627f2a74-662f-47f1-a316-42ead29917cf

29 Comments

Olli@Olli68

1Wk

You seem to be a bit bullish.

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BamBamInvest@BamBamInvest

1Wk

@Olli68 In any case 😂 , I'm excited to see what the future holds 😁

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D.S.@Cato_Bamboo

1Wk

Is this all good for the share price and our returns?

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BamBamInvest@BamBamInvest

1Wk

@Cato_Bamboo in any case 😁, although we are slowly becoming somewhat overbought. All we need here is a colocation deal for the 🚀 to ignite further, but there could now be a setback/correction in the summer. Let's wait and see, it's already gone pretty well.

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Michey777@Michey777

1Wk

No really new news. What I found more interesting was the article on Yahoo Finance that many institutional investors are buying. I'm curious to see what happens when a big cloud contract is announced.

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Luca@value_visionary_211

1Wk

Unfortunately missed entry at around 11-12€. In the meantime some Fomo kicks in haha😂

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Olli@Olli68

1Wk

I'm not that much of a tech freak. What do they do differently from Coreweave? Maybe someone can explain it to me simply. As I said: simple.

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BamBamInvest@BamBamInvest

1Wk

@Olli68 I haven't dealt with Corewave extensively yet, but Corewave would be a hyperscaler and e.g. a potential customer of $IREN. $IREN already has the infrastructure, the power contracts etc. in its pocket, is the owner and has capacities which it would then make available to a hyperscaler in the form of a colocation deal. This capacity will be needed at some point and will continue to be expanded. You don't build something like this overnight and they also operate it partly with alternative energies. Perhaps at some point like a large Reit in the AI data center sector. And until then, they will continue to use the capacities to mine $BTC. I hope that was simple enough and correct on my part. As I said, I haven't looked at Corewave extensively, and in terms of valuation they are also a lot bigger than $IREN, which is what I'm seeing right now. The simple explanation should look something like this. 😁

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Nova@Nova_portfolio

1Wk

@Olli68 $IREN still mines $BTC (and sells them immediately) but now will pivot more of their hardware towards AI/cloud computing. They use cheap solar/wind to power their data centers. $CRWV did start out as a mining company but switched to AI/cloud computing only a couple of years ago.

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BamBamInvest@BamBamInvest

1Wk

@Olli68 The main difference to Coreweave is that they do not have their own self-built data centers. That's why $CRWV also has to buy in, which they have now done with $CORZ.

$CORZ was acquired with 1.3 GW for USD 9 billion from $CRWV

$IREN has over 3 GW and a market capitalization of USD 4 billion
🤔

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Investment_Inka@Investment_Inka

1Wk

@BamBamInvest $CRWV bought $CORZ as they already used a large part of their infrastructure as a customer. Instead of transferring money monthly, it was probably cheaper to pay money once for the purchase.

Nevertheless, it's nice to see the comparison, which shows that there is still significant potential in the valuation of $IREN. 😊 I am and will remain invested. A rising Bitcoin also helps with this decision. 👍🏼

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lookingforinformation@lookingforinformation

1Wk

But what is happening right now? $IREN

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Michey777@Michey777

1Wk

@lookingforinformation probably due to the $CORZ takeover. Are pre market also -20%

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lookingforinformation@lookingforinformation

1Wk

@Michey777 do you mean because they are strong competitors or where is the connection between IREN and Core?

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BamBamInvest@BamBamInvest

1Wk

@lookingforinformation ne $IREN simply went well, what should have happened there, we are heavily overbought, can't always just go up.

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lookingforinformation@lookingforinformation

1Wk

What do you think will happen at 15:30? Up or further down?

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Michey777@Michey777

1Wk

Final takeover at $9 billion valuation. The market probably expected a little more. That's why everyone else is being priced out a little. $CORZ is valued at just under $20 per share, but is not a cash deal, but a swap to $CRWV.

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BamBamInvest@BamBamInvest

1Wk

@lookingforinformation This is actually a good sign, because it shows that capacity is needed and $IREN has far more capacity than $CORZ and shows how undervalued $IREN actually is. 😁 Wait and see, drink tea and be patient. When $IREN announces a colocation deal with a hyperscaler, things will take off. At least that's my opinion and expectation.

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Michey777@Michey777

1Wk

@BamBamInvest has nothing to do with overbought. When the first $CORZ takeover rumors came out, $IREN also made a move. That's just the way it is when you put a price on AI Revenues

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Michey777@Michey777

1Wk

@lookingforinformation who knows :)

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BamBamInvest@BamBamInvest

1Wk

@lookingforinformation Who knows, but since we are quite overbought, we are more likely to go down. A healthy cooling off would do no harm.

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BamBamInvest@BamBamInvest

1Wk

@Michey777 but 9 billion is still a lot more than the market capitalization of $IREN and $CORZ has less capacity 😁

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