I took the opportunity to further $IREN (+2,17 %) further expanded my position.

Only dividend stocks are boring 😉😂. I now use my trading portfolio to invest at least up to 5% of my capital in other areas. In addition to the purchase of $CA1 (-4,13 %) is $IREN (+2,17 %) is still on the shopping list. A limit order at 34.50 unfortunately just missed today, a very speculative bet on $DEFI (-3,49 %) 0.80 euros for 2000 shares at midday. Everything will be held in the medium term. I could still accommodate some capital for this year and am open to suggestions. Merci 😎🤗

After Rocket Lab found its way into my portfolio yesterday, here is the next growth stock.

Due to the financial situation, I am currently prepared to build up riskier positions with higher potential returns.

However, I also wanted to build up my nest egg, which has been incredibly difficult since I started investing in shares.

As some of you may have noticed, a few days ago the community project "Tenbagger of the future" was launched a few days ago (More details: https://getqu.in/cd6dCj/).

All the more exciting the reference from @MaxtheCat regarding an article by Agrippa Investments entitled "IREN: On the way to the hyperscaler", which I would like to summarize below:

🚀 Brief overview: What is IREN?

• $IREN (+2,17 %) comes originally from Bitcoin mininghas developed into one of the most profitable players there and is now
• is now building massive AI/HPC cloud capacities is building up.
• Core idea: IREN is basically a "electricity monetizer" with data centres - The aim is to extract as many dollars as possible per megawatt (MW).
• To achieve this, the company owns the entire physical chain itselfland, grid connections, substations, data centers, hardware.

_________________________

🏗️ Vertically integrated & "Power first"

According to the article, electricity is IREN's biggest lever:

• Around 2.9 GW of secured, grid-connected capacity are already in the portfolio - in a world where data center power is becoming increasingly scarce.
• Many competitors work with "contracted power" (i.e. leased power). IREN, on the other hand, keeps the connections and locations owned by the company itself - This provides margin advantages and more control.
• The sites are primarily located in regions with a lot of wind and solar power (e.g. West Texas, Canada), which supports both the cost and ESG story.

Added to this is the construction moat:

• IREN develops land, negotiates with grid operators, builds high-voltage infrastructure and data centers largely in-house.
• According to the author, IREN is creating around 50 MW of new data center capacity per month - significantly more than is usual in the industry.

_________________________

⛏️ BTC mining: Stage 1 of the business model

The article clarifies: Bitcoin mining was just the entry pointnot the end goal.

• With its hashrate, IREN is one of the largest listed miners in the world.
• Instead of the HODL strategy, the mined BTC is largely sold directlyin order to:
• Expand the power portfolio,
• locations,
• and new data centers.

The giga-site strategy (e.g. several hundred MW at one location such as Childress) reduces running costs because there is no need to operate many small, expensive individual sites.

_________________________

🧠 From miner to AI hyperscaler

Since the end of 2023 / 2024, IREN has been accelerating strongly towards AI and HPC cloud:

• Coming tens of thousands of high-end GPUs are being used or have been ordered - including $NVDA (+0,31 %) H100/H200, Blackwell generations and $AMD (-0,01 %) -GPUs.
• The aim is to build up a very large GPU fleet by 2026 that can handle demanding AI and HPC workloads.

The highlight of the article is the Microsoft deal:

• A multi-year contract worth billions with with Microsoft is highlighted.
• A large proportion of the upcoming GPUs and the new "Horizon" clusters at the Childress site will be utilized in the long term as a result.
• For the author, this is a kind of "accolade"A major tech group is relying heavily on IREN as an infrastructure partner.

Financing approach:

• Instead of buying everything, IREN relies heavily on GPU leasing (24-36 months) with a purchase option.
• The aim is to finance growth without completely overloading the balance sheet.

_________________________

⚡ Why the model is exciting in the age of AI

The article draws a parallel: AI cloud is more similar to mining than you might think:

• In both cases:
• Extremely high capital requirements,
• hardware quickly becomes obsolete,
• if you are too slow, you are stuck with old technology.

There are two simplified paths to success:

Pricing power: Large software/service ecosystem with high margins (classic hyperscalers such as AWS, Azure, GCP).

Cost leadership: Brutally low costs due to:

• cheap electricity,
• own locations,
• high efficiency in construction and operation.

IREN is clearly aiming for Variant 2: Cost leader.

• Role as "Hyperscaler for hyperscalers":
• IREN offers bare-metal compute in large quantities in large quantities,
• addresses large customers (hyperscalers, AI companies, etc.),
• without having to build the large software ecosystem themselves.
• Traditional data center margins are also to be beaten in this way, because no additional colocation rents are incurred, but the entire chain is kept in-house.

_________________________

📊 Conclusion

Clear the stage for your discussions. The key points of the article are summarized:

• IREN is not "just" a Bitcoin minerbut is developing into a very vertically integrated data center and electricity playerwhich:
• controls huge amounts of power,
• can build data centers extremely quickly,
• and uses both mining and AI cloud as sources of revenue.
• The moat lies, according to the article, primarily in:
• the the quantity and quality of the secured electricity,
• the control over the entire physical infrastructure,
• and the construction and operating expertise (giga sites, high rack densities, air & liquid cooling).
• The Microsoft deal
  $MSFT (-0,83 %) acts as a strong validation of the AI business and ensures that a large part of the planned GPU capacity is directly utilized.
• On the other hand, risks clearly remain:
• high capital requirements and leasing obligations,
• rapid GPU generation changes,
• strong competition from established hyperscalers and other neo-cloud providers,
• and the question of how long the current AI euphoria will last in this form.

Source: https://www.agrippa.investments/p/copy-iren-a-hyperscaler-in-the-making

It won't get much cheaper $IREN (+2,17 %) any more

Agrippa Investments has long been preaching the benefits of $IREN (+2,17 %) . Now he has published a deep dive on the company - about its moats and operational advantages.

The text is long, but extremely interesting

He visited the Childress site and spoke to the IREN team, among others.

If you are interested, here is the link:

https://www.agrippa.investments/p/copy-iren-a-hyperscaler-in-the-making

$IREN (+2,17 %)
$CIFR (+0 %) Buy the dip 🚀

https://www.n-tv.de/wirtschaft/Den-USA-fehlt-Strom-fuer-neue-Rechenzentren-in-China-ist-er-kostenlos-id30036635.html

$IREN (+2,17 %)

We are very back baby . About the 40 Euro M.

Nvidea has delivered even yesterday.

Nevertheless, overpumped data center remains no purchase for me.

The first week is over - and we take a look at the current state of affairs together. 😌

As a reminder: After the community voted on the "Tenbagger of the future", the five values were drawn on November 12, 2025. $IREN (+2,17 %) ,$HIMS (+4,57 %) , $SOFI (+2,85 %) ,$RKLB (+4,13 %) and $PNG (+2,49 %) were added to the community portfolio.

Since then, the values have developed as follows:

• $PNG (+2,49 %)
  -4,83% 📉
• $HIMS (+4,57 %)
  -10,10% 📉
• $IREN (+2,17 %)
  - 10,39% 📉
• $RKLB (+4,13 %)
  -17,40% 📉
• $SOFI (+2,85 %)
  -18,45% 📉

The return on the portfolio is therefore currently negative and stands at -12,26% 📉

The return reached its lowest point on 14.11. at -18,21% 📉

Please share your thoughts on this! 👌🏼