Best regards from @Raketentoni —I’m supposed to pass along the following to you: Could someone please post something on Getquin under Pazzzi’s post?
First: IREN does not have 14 billion USD in “cash on hand.” That would be misleading. A more accurate term is secured or committed financing capacity, including cash, GPU financing, and customer prepayments. The Microsoft contract alone includes 3.65 billion USD in GPU financing at 6.0%; together with approximately $1.94 billion in Microsoft prepayments, this finances about 96% of GPU capex. IREN
Second: The core of the story is actually very positive: IREN is undergoing an operational transformation from a Bitcoin miner to an AI cloud/data center company. Q3 already showed $3.1 billion in ARR under contract and a target of $3.7 billion in ARR by the end of 2026; Microsoft and NVIDIA are the key anchors in this. SEC
First: IREN does not have 14 billion USD in “cash on hand.” That would be misleading. A more accurate term is secured or committed financing capacity, including cash, GPU financing, and customer prepayments. The Microsoft contract alone includes 3.65 billion USD in GPU financing at 6.0%; together with approximately $1.94 billion in Microsoft prepayments, this finances about 96% of GPU capex. IREN
Second: The core of the story is actually very positive: IREN is undergoing an operational transformation from a Bitcoin miner to an AI cloud/data center company. Q3 already showed $3.1 billion in ARR under contract and a target of $3.7 billion in ARR by the end of 2026; Microsoft and NVIDIA are the key anchors in this. SEC
•
2727
•
@Dividendenopi Admittedly, that was phrased a little too optimistically 🙋♂️ — it has been revised
•
66
•